Temple Grange Partners will support and complement LexisNexis® Risk Solutions information and analytics capabilities for global financial services clients, together providing comprehensive compliance solutions for information and analytics content, consultancy advisory, programme implementation and on-going support. Temple Grange Partners and LexisNexis Risk Solutions will work closely together to share expertise and resources, which will enhance the solutions being offered to financial services clients by both firms.
The compliance function today is critical for many reasons. It has become a central repository of customer information in heavily siloed organizations and because of this reality, the opportunities for this function to become a growth driver is high. This current environment makes the Temple Grange and LexisNexis Risk Solutions alliance that much more important to the marketplace.
Thomas C. Brown, Senior Vice President, U.S. Commercial Markets and Global Market Development, LexisNexis Risk Solutions, said:
“According to the European edition of our True Cost of AML Compliance study, most organizations believe that streamlining or improving the efficiency of the KYC/customer due diligence processes is a priority. This efficiency can provide other departments a single view of a consumer and can positively influence the customer onboarding process. Efficiency is critical to compliance departments, which endure heavy operational workloads.
“When a Chief Compliance Officer combines deep practitioner expertise with risk data and technology capabilities, the compliance function can achieve much-desired efficiencies. When efficiencies are achieved, compliance analysts’ and managers’ job satisfaction tend to increase significantly, reducing another compliance leadership struggle ? high-employee turnover. Efficiencies that only technology, combined with expertise, can yield enable the compliance function to evolve into a department that helps their companies grow.”
Eoin O’Shea, Chief Executive Officer of Temple Grange Partners, said:
“This is an exciting milestone for Temple Grange Partners. While compliance as a discipline relies on seasoned and practitioner-based advice, technology and analytics has an important role to play in enhancing this. Temple Grange Partners shares LexisNexis Risk Solutions commitment to delivering insight and excellent service to clients, which we are confident will be strengthened by this alliance, as both Temple Grange Partners and LexisNexis Risk Solutions continue to develop the products and offerings that clients need in a world replete with uncertainty.”
