Half a million client records to be systematically screened on monthly basis
Lincoln Financial Group has selected Datanomic’s award winning dn:Director Sanctions & PEP Screening software for systematic client screening to mitigate risk, protect against money laundering, and comply with UK and international Know-Your-Customer regulations. Lincoln Financial Group will be screening its entire customer base of approximately half a million clients on a monthly basis using Datanomic’s software.
Lincoln Financial Group is the UK arm of Lincoln National Corporation, listed on the New York
Stock Exchange. Lincoln National Corporation was founded in 1905, and the UK operation dates
back to 1934 with assets under management of £4.19 billion (as at 31 December 2008). In the UK
Lincoln is primarily focused on customers at or in retirement, by bringing to the market reliable
and flexible solutions which enable transition through retirement, protecting and enhancing
wealth to enjoy an income for life.
“We were previously manually screening clients, which was time consuming and difficult to
manage,” said Angela Dixon, Money Laundering Reporting Officer and Compliance Officer for
Lincoln Financial Group. “We conducted a thorough market evaluation and felt that Datanomic’s
offering was the most appropriate for our requirements. An important feature of Datanomic is the
fact that we are able to screen all of our data onsite and in-house, which is, in our opinion, far
more secure than sending it off to a bureau service for checking, thus providing better protection
of our customer data. The dn:Director Sanctions & PEP Screening platform will enable us to
improve our customer monitoring, particularly in terms of identifying which customers are PEPs,
as well as flagging any sanctioned individuals or other risk entities. As a subsidiary of a US company, we have to comply with a wide range of UK, US and international regulations and legislation. The Datanomic software will enable us to better mitigate risk and ensure we remain compliant with our legal obligations.”
Datanomic’s dn:Director Sanctions & PEP Screening platform is currently being installed at the company’s offices near Gloucester. Datanomic’s dn:Director is a full scale enterprise class
compliance screening platform, which provides the industry’s most powerful screening algorithms. dn:Director also provides full functionality for compliance screening – including
configurable workflow, detailed audit trail, user and systems administration and MI/management reporting.
Datanomic’s dn:Director Sanctions & PEP (Politically Exposed Persons) Screening software enables organisations to rigorously and systematically identify heightened-risk entities within
their customer bases. It relieves the burden of manual or semi-automated client screening by
enabling automated screening in an easy-to-use/easy-to-implement solution purpose-built for
Compliance. Datanomic includes powerful screening rules to match against both commercial and
regulatory body/Government watch lists, to deliver a highly intelligent data matching solution that is designed for ease of use by non-technical users.
About Datanomic
Datanomic’s holistic approach to delivering fit-for-purpose data and screening accuracy enables
its growing list of blue chip clients around the world to achieve a rapid Return on Investment, by
exposing and correcting deficiencies in information their businesses rely upon, and by
discovering potential regulatory and legislative compliance data issues in line with proactive risk
management. Our clients come from a wide spectrum of industries including financial services,
telecommunications, government, healthcare, utilities, professional services and engineering.
For further information, please contact:
Jeremy Jones
Datanomic Ltd
Tel: +44 (0)1223 228418
Email: jeremy.jones@datanomic.com
Vanessa Land
Devonshire Marketing
Tel: + 44 (0)870 242 7469
Email: vanessa@devonshiremarketing.com