Fiserv and LexisNexis, two big brands in financial technology, now have apps that are integrated.
Greylock Federal Credit Union, the former credit union of General Electric, built the LexisNexis-Fiserv tie in using Fiserv’s DNAappstore, which fields such integration efforts.
Specifically, the Greylock-built app, introduced this fall, allows demographic data from DNA to pass to the LexisNexis Bridger Insight XG (BIXG) web service and returns both Watchlist (OFAC) and InstantID results. Watchlist and InstantID are elements of the Bridger Insight XG product. The app adds the Lexis Nexis screen to the New Person/Member Wizard in DNA and to the Person/Member Maintenance screen under Services.
The Bridger Insight XG product is an anti-money-laundering screener compliance with the Bank Secrecy Act, as well as other global AML compliance regulations.
The tie up deserves note not just because it is Fiserv and LexisNexis, but because it a hard-and-fast example of what the DNAappstore is intended to do: encourage Fiserv users to build their own integration apps.
One caveat to this, and that is price. The LexisNexis interface will set you back $14,000. At least that licensing fee — split between Greylock and Fiserv — includes a year of maintenance.