LexisNexis Risk Solutions Recognized as a “Challenger”

LexisNexis Risk Solutions has been included as one of the top risk-based authentication (RBA) providers in The Forrester Wave™: Risk-Based Authentication, Q3 2017 report. This is the first time that LexisNexis Risk Solutions has been included in the study, and it is recognized as a “challenger” in the evaluation.

According to Forrester, account takeover (ATO) fraud is responsible for at least $6.5 billion to $7 billion in annual losses across industries, including financial services, insurance, e-commerce and healthcare. The Forrester Wave report identifies the eight most significant RBA providers, who “demonstrated RBA thought leadership,” and evaluates their performance by using 32 different criteria across current offering, market presence, and strategy.

“It is an honor for LexisNexis Risk Solutions to be included in The Forrester Wave report,” says Paul Bjerke, vice president of fraud and identity at LexisNexis Risk Solutions. “We are pleased to be considered as a top vendor in the space. Our broad understanding of the clients we service enables us to continually improve our solutions to meet their emerging needs. Through our extensive capabilities in this space, we are challenging the RBA status quo, and we believe that position is reflected in this study.”

LexisNexis Risk Solutions scored among the second highest in the report in customer satisfaction, among the third highest in ease of use and intuitiveness and received the highest score possible in the solutions support strength criteria. Forrester also acknowledged the firm for its customer support, stating, “LexisNexis Risk Solutions offers extensive auditing and professional service support.”

“Our products are mission critical to our clients and that is reflected in their level of satisfaction,” says Kim Sutherland, senior director of fraud and identity management at LexisNexis Risk Solutions. “By acting as partner to our clients, we offer them comprehensive support to make manual changes to statistical decisioning and authentication policies. Given the complexity of these changes, this reduces the risk to a client’s production environment, as one error could unintentionally disrupt an entire workflow.”

LexisNexis Risk Solutions also scored among the second highest in future overall development and market plans for RBA and technology, as well as for its strategy around future plans associated with risk scoring, authentication and case management and behavioral biometrics. “We believe this recognizes our ongoing efforts to expand our authentication methods and create holistic workflow solutions for our clients,” says Bjerke. “We look forward to continuing to meet the developing needs of firms in the face of new fraud risks.”