RALEIGH, NC, January 21st, 2021 — WorkFusion and Nexis Solutions — a division of LexisNexis® — have announced a new collaboration which aims to enhance how banking and regulated corporate sectors conduct Adverse Media Monitoring and wider reputational risk management.
WorkFusion® offers Intelligent Automation solutions are powered by proprietary artificial intelligence technology, including pre-trained bots. Nexis Solutions offers wide-ranging, timely news and business information from both open source and licensed content — including 80,000+ news sources from 100+ countries, in 75 languages, with 3.5 million documents added every day.
With this collaboration, teams can now take 80–90% off the time they formerly spent just searching through news for mentions, and instead use that valuable time for identifying indicators of potential risk. The financial industry average is 20 minutes or more for a single manual keyword search, but with Intelligent Automation, this same task requires just 1–2 minutes. An organization can perform this increasingly essential function on a daily basis, for the same cost and with the same team already in place, but with even better control, insight and automatically generated audit trails. Most WorkFusion automation solutions can be deployed in 15 weeks or faster, providing unmatched time to value.
This collaboration advances how the banking industry performs Adverse Media Monitoring within their business processes — including onboarding, ongoing monitoring, and transaction monitoring. It will also support wider corporate adverse media screening and help companies to better identify reputational risks.
Mark Dunn, General Manager at Nexis Solutions says, “We are delighted to collaborate with WorkFusion to further enable companies to apply innovative technology and the extensive data sets available from Nexis Solutions to help monitor and mitigate third-party ethical and reputational risks.”
WorkFusion is accelerating the world’s transition to more meaningful work. Our Intelligent Automation solutions are powered by pre-built bots, proprietary artificial intelligence technology and advanced analytics, working together to automate a wide range of business processes. Leading organizations worldwide use WorkFusion to automate their operations with ease and speed, helping them up-skill employees, reduce costs and unlock growth like never before. WorkFusion is headquartered in New York City.
The Nexis® Solutions division of LexisNexis® Legal & Professional serves companies and organizations across the globe, offering premier news and corporate information through a portfolio of solutions, including the flagship and award-winning Nexis®. This unique combination of market-leading content and innovative technology helps business professionals make more insightful decisions by offering them quick and easy access to the latest news, facts and insights regarding their brand, clients, prospects, competitors, suppliers and industry trends.