Payza selects LexisNexis for compliance screening

Compliance screening services provider

Payza, payment platform for e-commerce, corporate disbursement and remittances, has contracted with LexisNexis, a provider of content-enabled workflow solutions, to serve as its compliance screening services provider for identity verification and authentication (view press release). The deal allows Payza to augment its compliance processes for sanction screenings, which is a requirement of all companies in the payments industry.

We selected LexisNexis for the breadth of its coverage,” said Mohammad Hashemi, director of product strategy for Payza. “In the payments industry, you must maintain a constant vigil on the transactions you facilitate. LexisNexis allows us to perform due diligence in real-time and flag names that may pose a risk to our business.

The LexisNexis system interfaces with sanctions lists in around 180 countries and is updated on a daily basis, which will streamline Payza’s processes and alert the company to potential violations.

Related reading

Leave a comment