Remote Activity Risk Management
Financial institutions rely on manual and increasingly ineffective methods for managing the risks of fraud, mistake and cyber crime across their network of customers and agents. These methods are exorbitantly costly yet increasingly ineffective.
LexAlign’s mission is to help financial institutions control these risks, and mitigate the associated financial loss and reputational harm, by automating remote activity oversight and support.
Challenge: Manual Oversight
Today, financial institutions manually perform oversight with significant human error.
Solution: Automated Oversight
With LexAlign, the oversight process is automated, eliminating human error.
Challenge: Expensive Oversight
Today, the cost of oversight is prohibitive and resources are kept from higher-value work.
Solution: Affordable Oversight
With LexAlign, the cost of oversight is reduced by up to 90% and resources can focus on higher-value work.
Challenge: Incomplete Oversight
Today, financial institutions perform oversight for a small fraction of their third-party ecosystem.
Solution: Complete Oversight
With LexAlign, it is possible to support 100% of the third-party ecosystem.
LexAlign’s SaaS solution automates the way financial institutions meet their customer audit, training, and support requirements. LexAlign’s solution extracts and delivers pertinent data on third-party actions that are vital for required oversight and risk management for Automated Clearing House (ACH) payments, wire transfers, and Remote Deposit Capture (RDC). This empowers financial institutions’ third-party network with assessment-driven technology that automatically generates gap analysis, action plans, and the policies they need to manage compliance and risk.
For financial institutions, LexAlign’s solution provides a compliance dashboard containing the audit and training modules for each of their partners along with their assessment status, results, confidence levels, gap analysis, and trends. The solution provides ongoing monitoring and support for customer processes required to reduce the risk of fraud by empowering the financial institutions’ third-party network—no matter their size, sophistication, and resources—to assess their risk, detect unusual activity, and meet their regulatory and security responsibilities.