Payza selects LexisNexis for compliance screening
NEW YORK, LONDON-- Payza, a payment platforms for e-commerce, corporate disbursement and remittances, has contracted with LexisNexis, a global provider of content-enabled workflow solutions, to serve as its compliance screening services provider for identity verification and authentication. The move will allow Payza to augment its compliance processes for sanction screenings, a requirement of all companies in the payments industry.
The LexisNexis system interfaces with sanctions lists throughout 180 countries and is updated on a daily basis. “This will streamline our processes considerably,” said Mohammad Hashemi, director of product strategy, “alerting Payza to potential violations in a straightforward and timely fashion.”
The LexisNexis solution is specifically designed to serve the multi-billion dollar risk information industry, which is comprised of professionals and organizations including those in financial services. The solution helps organizations mitigate risk and manage assets.