LexisNexis Risk Solutions Announces FCA Authorisation

LexisNexis Risk Solutions Announces FCA Authorisation
19.04.2017 10:00 am

LexisNexis Risk Solutions Announces FCA Authorisation

Risk Management

LexisNexis® Risk Solutions, a global big data, technology and analytics company, has today announced that the Tracesmart Group entities within its corporate structure in the United Kingdom have achieved authorisation from the Financial Conduct Authority (FCA) to become a Credit Reference Agency (CRA) and provide Credit Information Services.  The FCA is responsible for regulating all consumer credit and credit reference agencies in the UK, to ensure that the financial markets are honest, fair and effective for both individuals and businesses. 

To prepare for authorisation, LexisNexis Risk Solutions evaluated its business to further strengthen internal processes around how it identifies and manages risk, responds to customer inquiries to ensure fair outcomes, and how it implement effective resolution strategies for potential errors in data and in consumer reports.

Dean Curtis, Managing Director, Business Services, LexisNexis® Risk Solutions said:

“At LexisNexis Risk Solutions, our solutions and capabilities help customers make financial decisions on consumers and assess the risk of any relationship.”

“Ensuring we operate with the highest standards, our obligations in data stewardship and prioritising customer interests is part of our business culture and we welcomed the opportunity to discuss, evaluate and improve how we were already conducting business. Many of our customers and partners are also regulated and this represents a firm commitment to stand with them and uphold the standard to which we are all held.”

Related News

Mitsubishi UFJ Financial Group (MUFG) Selects AxiomSL To Automate Daily Equity Position Monitoring And Reporting Globally

AxiomSL, the industry’s leading provider of risk and regulatory reporting solutions, today announced an agreement with Mitsubishi UFJ Financial Group (MUFG), a... Read more »

Wolters Kluwer Lien Solutions Urges U.S Lenders to Consider Key Risk Strategies to Support Growth

In the wake of an expected wave of defaults by U.S business borrowers, the nation’s lenders are best advised to apply risk management practices to set the stage for long-term... Read more »

Mphasis Digital Risk leverages Mendix low-code platform to enable fast, effective digitalization for the financial services industry

Mendix, a Siemens business and the global leader in enterprise low-code, today announced that... Read more »

MayStreet expands cash treasury offering with the addition of Fenics data

MayStreet, the industry’s leading market data infrastructure provider, today announced it has added Fenics USTreasuries (Fenics UST) to its US cash treasury... Read more »

ESIS numbers surpass pre-pandemic levels for the first time

Mortgage technology expert Mortgage Brain has seen the volume of ESIS generated through its sourcing systems surpass pre-pandemic levels for the first time... Read more »

BBVA Bank selects Fujitsu’s Quantum-Inspired Digital Annealer to explore customers’ investment portfolios

Fujitsu today announces that it is collaborating with BBVA, Spain’s second largest bank, on a proof of... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel