EXL, NominoData Partner for Anti-Money Laundering and Know-Your-Customer Compliance SolutionsWednesday, March 12, 2014
EXL (NASDAQ: EXLS), a leading business process solutions company, today announced it has partnered with NominoData LLC, a technology company formed to help clients with worldwide identity, compliance and risk management issues associated with modern day commerce. The collaboration will enable banks and financial services organization better manage risk, governance and reporting associated with anti-money laundering (AML) and “know your customer” (KYC) regulations.
The partnership will be featured at the ACAMS Moneylaundering.com 19th Annual International AML and Financial Crimes conference March 17-19, 2014 in Hollywood, FL.
EXL integrates analytics, compliance process optimization, and financial operations management services to enhance risk coverage, governance and reporting. EXL’s AML and KYC services are designed to improve on-boarding procedures and screening while reducing false positive and review time, among other benefits.
“Banks and financial institutions are committed to strengthening ‘know your customer’ and anti-money laundering compliance,” said Shiv Kumar, EXL’s Global Head, Strategic Growth Initiatives and Banking/Financial Services. “EXL understand the rigors of establishing robust compliance programs, and with Nomindata’s investigation expertise, database tools and monitoring solutions, we help our clients effectively manage regulatory expectations.”
Nominodata’s flagship solutions include CheckforRisk Negative News Plus and OFAC Plus, a comprehensive Sanctions management solution. EXL will leverage Nominodata’s automated compliance screening and entity monitoring as well as custom tools for negative news, database searches, OFAC screening and high-risk watch lists.
“We know the challenges resulting from heightened regulatory scrutiny, transparency demands and risk management needs,” said Rob Goldfinger, President, NominoData. “As a former law enforcement official, I know how important it is to get relevant risk information and practical, accurate reporting. Our solution combined with EXL’s understanding of compliance, governance and financial operations will bring a compelling value proposition to the market.”
The ACAMS moneylaundering.com 19th annual conference is expected to attract delegates representing the world’s leading banks, securities firms, and government and law enforcement agencies to discuss best practices, methods and trends to mitigate the impact of financial crime.
About NominoData LLC NominoData LLC (www.NominoData.com), is a technology company formed to help clients with worldwide identity, compliance and risk management issues associated with modern day commerce. Ranging from banks to multinational corporations, NominoData provides a combination of industry-leading technology on-line. Our founders harness their collective intelligence and leverage their expertise in Risk Management, Security, Search, Name /Entity recognition, data analysis and extraction into innovative and productivity-boosting products that revolutionize their field.