Hodge Bank taps LexisNexis to streamline customer onboarding
Cardiff-based lending and savings provider Hodge Bank has selected LexisNexis Risk Solutions and its RiskNarrative platform to automate customer onboarding and boost its anti-money laundering (AML) and fraud protection.
Hodge Bank partners LexisNexis Risk Solutions
LexisNexis says its solution will help Hodge Bank “onboard new customers faster and more efficiently, without compromising on risk”.
The RiskNarrative platform incorporates AML screening, transaction monitoring and case management to strengthen the customer onboarding process and help banks meet their compliance obligations and detect potential fraud.
LexisNexis says it was approached by Hodge Bank to “automate its onboarding and ongoing know your customer (KYC) reviews”, adding RiskNarrative “will first be deployed into the bank’s most mature product, Savings, and later into the wider ecosystem for B2B customer onboarding”.
UK-based Darlington Building Society also signed with LexisNexis earlier this year to utilise its RiskNarrative solution.
Natalie Fowler, Hodge’s onboarding KYC manager, adds LexisNexis’ tech will “allow us to save time and resource, and therefore costs” by automating onboarding and ongoing screening processes.
Hodge Bank offers mortgage and savings products to private and commercial clients in the UK and currently claims around 85,000 customers.
