Reports illustrate the importance of how the right anti-fraud technologies should adapt to a growing organization while lowering friction for trusted users
ATLANTA, July 13, 2023 /PRNewswire/ -- Frost & Sullivan has recognized LexisNexis® Risk Solutions as Category Leader in both Fraud Detection and Prevention (Know Your User) and Fraud Detection and Prevention (Know Your Customer) Frost Radar™ 2023 reports. The Frost Radar is an analytical tool that benchmarks companies' innovation focus and growth performance through in-depth analysis built on a 360-degree research methodology and objective rating of companies in a given market.
Frost & Sullivan's research on the Know Your Customer (KYC) component of the Fraud Detection and Prevention (FDP) industry started with more than 75 vendors and settled on the final eight (8) vendors profiled in the report.
"The LexisNexis Risk Solutions product portfolio covering both digital and physical identities using shared intelligence and insights from its LexisNexis® Digital Identity Network® make for a compelling end-to-end offering," noted Deepali Sathe, senior industry analyst for Frost & Sullivan. "With its Dynamic Decision Platform, customers can use one API to call a variety of solutions. Starting with one product, customers can build out capabilities with additional products and workflows. It aligns with customers' growth and has complementary capabilities based on a customers' ability to handle part of the process themselves."
Having started with more than 75 vendors, LexisNexis Risk Solutions ranked as leader of the final 13 featured in the Frost & Sullivan FDP Know Your User (KYU) report, which were evaluated on a combination of defining factors. Sathe continued, "For LexisNexis Risk Solutions, the combination of its Digital Identity Network®, deep customer collaboration and research by its own data scientists provides a strong foundation for its short- and long-term innovation plans. A plethora of enhancements related to behavioral biometrics-based authentication, fraud intelligence and tighter integrations comprise its robust product and technology roadmap that builds on existing capabilities.
"Its focus on enhancing the customer experience and incorporating new technologies and enhancements organically or inorganically makes LexisNexis Risk Solutions a leader in both Innovation Indexes," stated Sathe.
Dynamic Decision Platform uses digital identity intelligence, behavioral analytics, machine learning and case management for clients to continually improve their decisions about risk and trust. It provides enhanced authentication, identity verification and fraud decisioning and is a core component of the Digital Identity Network repository.
"We are honored that Frost & Sullivan recognized LexisNexis Risk Solutions as a leader in not one, but two fraud detection and prevention reports," said Kimberly Sutherland, vice president of fraud and identity strategy for LexisNexis Risk Solutions. "Our fraud and identity strategy, product and data science teams are completely dedicated to our work to help keep organizations worldwide and the economies in which they operate safe from bad actors. We also take pride in achieving this while offering technology that keeps friction low for trusted customers. It is especially gratifying when a well-respected industry analyst firm like Frost & Sullivan recognizes our efforts and capabilities."
Access the Frost & Sullivan Fraud Detection and Prevention 2023 reports.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions includes seven brands that span multiple industries and sectors. We harness the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.
Media Contact:
Marcy Theobald
678.860.3639
Marcy.theobald@lexisnexisrisk.com
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SOURCE LexisNexis Risk Solutions
