Case Studies iyzico Enhances Compliance with LexisNexis® WorldComplianceTM Online Search Tool

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	iyzico Enhances Compliance with LexisNexis® WorldComplianceTM Online Search Tool

iyzico Enhances Compliance with LexisNexis® WorldComplianceTM Online Search Tool

Technology Category	Application Infrastructure & Middleware - Data Exchange & Integration Application Infrastructure & Middleware - Data Visualization
Applicable Industries	E-Commerce Finance & Insurance
Applicable Functions	Business Operation Quality Assurance
Use Cases	Fraud Detection Regulatory Compliance Monitoring
Services	Data Science Services System Integration
Challenge	The recent tightening of regulatory screening in Turkey has affected a wide variety of business areas, especially in the IT and data management sector. In order to comply with new KYC guidelines, iyzico needed to build out their practices and to develop sophisticated compliance procedures in line with Turkish regulations. iyzico started using LexisNexis® WorldComplianceTM Online Search Tool in June 2017 to fulfill its compliance responsibilities. By employing LexisNexis® Risk Solutions’ integrated technology and expansive data resources, iyzico has access to one of the industry’s most extensive databases that provides information on individuals and organizations in more than 50 risk categories, including Foreign Officials, Sanctions and State Owned Enterprises. iyzico is now able to manually screen prospective clients against global sanctions lists and perform enhanced due diligence with more than 2.5 million profiles that are updated daily by a global network of analysts. Read More
About Customer	iyzico is a Turkish fintech and payments leader that provides a secure payment management platform to online companies across various industries. The company is known for developing innovative solutions tailored for the e-commerce market and handles both local and cross-border payments. As a prominent player in the fintech sector, iyzico is committed to ensuring compliance with regulatory standards while maintaining a seamless customer experience. The company’s focus on security and compliance is critical in the online payment sector, where timely and robust decision-making is essential to combat financial crime and meet regulatory requirements. Read More
Solution	By integrating WorldCompliance Online Search Tool into their daily work routines, iyzico has the appropriate systems and controls in place to manage risk quickly and efficiently. WorldCompliance Online Search Tool enables iyzico to perform initial due diligence by screening potential clients and business partners, and also meet worldwide compliance and regulatory standards. The tool provides access to a comprehensive database that includes information on individuals and organizations in over 50 risk categories. This integration allows iyzico to gain a holistic view of customers and prospects, which is vital for making informed decisions in the online payment sector. The compliance team at iyzico can now make timely and robust decisions, ensuring that they meet compliance regulations while maintaining a high level of customer experience. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Exchange & Integration

Application Infrastructure & Middleware - Data Visualization

Applicable Industries

E-Commerce

Finance & Insurance

Applicable Functions

Business Operation

Quality Assurance

Use Cases

Fraud Detection

Regulatory Compliance Monitoring

Services

Data Science Services

System Integration

Challenge

The recent tightening of regulatory screening in Turkey has affected a wide variety of business areas, especially in the IT and data management sector. In order to comply with new KYC guidelines, iyzico needed to build out their practices and to develop sophisticated compliance procedures in line with Turkish regulations. iyzico started using LexisNexis® WorldComplianceTM Online Search Tool in June 2017 to fulfill its compliance responsibilities. By employing LexisNexis® Risk Solutions’ integrated technology and expansive data resources, iyzico has access to one of the industry’s most extensive databases that provides information on individuals and organizations in more than 50 risk categories, including Foreign Officials, Sanctions and State Owned Enterprises. iyzico is now able to manually screen prospective clients against global sanctions lists and perform enhanced due diligence with more than 2.5 million profiles that are updated daily by a global network of analysts.

About Customer

iyzico is a Turkish fintech and payments leader that provides a secure payment management platform to online companies across various industries. The company is known for developing innovative solutions tailored for the e-commerce market and handles both local and cross-border payments. As a prominent player in the fintech sector, iyzico is committed to ensuring compliance with regulatory standards while maintaining a seamless customer experience. The company’s focus on security and compliance is critical in the online payment sector, where timely and robust decision-making is essential to combat financial crime and meet regulatory requirements.

Solution

By integrating WorldCompliance Online Search Tool into their daily work routines, iyzico has the appropriate systems and controls in place to manage risk quickly and efficiently. WorldCompliance Online Search Tool enables iyzico to perform initial due diligence by screening potential clients and business partners, and also meet worldwide compliance and regulatory standards. The tool provides access to a comprehensive database that includes information on individuals and organizations in over 50 risk categories. This integration allows iyzico to gain a holistic view of customers and prospects, which is vital for making informed decisions in the online payment sector. The compliance team at iyzico can now make timely and robust decisions, ensuring that they meet compliance regulations while maintaining a high level of customer experience.

Impact #1	iyzico can now manually screen prospective clients against global sanctions lists.
Impact #2	The company performs enhanced due diligence with more than 2.5 million profiles updated daily.
Impact #3	The compliance team can make timely and robust decisions, ensuring regulatory compliance.

Impact #1

iyzico can now manually screen prospective clients against global sanctions lists.

Impact #2

The company performs enhanced due diligence with more than 2.5 million profiles updated daily.

Impact #3

The compliance team can make timely and robust decisions, ensuring regulatory compliance.

Benefit #1	Access to more than 2.5 million profiles updated daily.
Benefit #2	Information on individuals and organizations in over 50 risk categories.

Benefit #1

Access to more than 2.5 million profiles updated daily.

Benefit #2

Information on individuals and organizations in over 50 risk categories.

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Overview

iyzico Enhances Compliance with LexisNexis® WorldComplianceTM Online Search Tool

Operational Impact

Quantitative Benefit