LexisNexis Risk Solutions was awarded Best TBML & Trade Compliance Solution at the 7th Regulation Asia Awards for Excellence 2024.

The Best TBML & Trade Compliance Solution award recognises solutions that empower financial institutions to tackle the complexities of trade compliance with innovative tools, enhancing their ability to detect illicit activities in global trade networks. This category honours platforms that excel in ensuring accuracy, adaptability, and operational efficiency in combatting trade-based financial crime.

LexisNexis Risk Solutions was recognised for its Firco Trade Compliance platform, which leverages advanced technology including AI-driven analytics to reduce false positives while significantly enhancing transaction monitoring precision. With capabilities designed to adapt to evolving regulatory demands, the platform supports financial institutions in identifying high-risk transactions, ensuring compliance, and reducing the operational burden associated with identifying TBML risks.

Notably, client feedback highlighted the solution’s measurable impact on improving compliance outcomes and workflow efficiencies, underscoring its effectiveness across jurisdictions. “Trade-based money laundering remains one of the most complex and pervasive financial crimes facing global markets today, making it essential for compliance solutions to stay one step ahead,” said Bradley Maclean, Co-founder of Regulation Asia and Chair of the Awards Committee.

“LexisNexis Risk Solutions’ innovative and data-driven approach provides financial institutions with a powerful ally in the fight against TBML and other trade-related risks, offering the agility and precision needed to navigate these high-stakes risks. The platform’s effectiveness in detecting and preventing illicit trade transactions sets a high standard for the industry, reinforcing resilience and integrity across the global financial ecosystem.”

About the Regulation Asia Awards for Excellence 2024

The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.

For a full list of the award 2024 winners, visit www.regulationasia.com/awards.

About Regulation Asia

Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 13,000+ subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.

Visit www.regulationasia.com or connect via LinkedIn or Twitter.