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LexisNexis Risk & Information Analytics Group and Magnum Communications Create Strategic Alliance To Provide Full Suite Of Risk Management Tools
Alliance Enables Magnum Communications To Equip Customers With Crucial Risk Assessment Information
BOCA RATON , FL, October 23, 2006 - LexisNexis® Risk & Information Analytics Group has aligned with Magnum Communications to create a strategic alliance that will provide critical risk management data to customers throughout the world. The LexisNexis® Risk & Information Analytics Group delivers actionable intelligence to help customers confidently make critical decisions faster. Magnum Communications is a leader in third-party data access, analysis and decision applications. Magnum Communications will integrate a suite of services from LexisNexis Risk & Information Analytics Group, enabling clients to assess risk, and verify loan and business transactions in a single, cost-effective tool.
Primarily focused on financial services, banking, automotive, telecommunications and retail sectors, LexisNexis Risk & Information Analytics Group and Magnum Communications will provide clients with a solution that includes an alternative source of data to help identify qualified prospects, detect fraud and assess risk pertaining to the non-banked population. The solution will also help clients make better decisions on accounts where bureau data is available. By combining the traditional bureau-based data resources of Magnum Communications with the wealth of customizable content from the LexisNexis® services, customers will have a true end-to-end solution for risk assessment and management.
“We are pleased to provide Magnum Communications with this all-inclusive set of risk management tools,” said Greg Johnson, vice president of channel management of the LexisNexis Risk & Information Analytics Group. “With the increased appearance of fraud in the marketplace and billions of dollars changing hands throughout daily business dealings, companies need to thoroughly and efficiently analyze the potential risk of every transaction. LexisNexis Risk & Information Analytics Group and Magnum Communications are providing a solution that enables customers of any scope and size to feel confident with their risk analysis.”
“Magnum is very excited about this strategic relationship with LexisNexis Risk & Information Analytics Group. The information solutions supplied are unsurpassed and will provide our clients with a great alternative to traditional bureau-based data sources,” said Carl Eikhoff, founder and chief executive officer of Magnum. “By using the LexisNexis Risk & Information Analytics Group solutions in conjunction with the Magnum analytics and decision tools, the market will now benefit from being able to make smarter and more complete business and risk-based decisions in real-time,” continued Eikhoff.
By integrating services with LexisNexis Risk & Information Analytics Group, Magnum will have access to robust data in an automated fashion to feed directly into clients’ their loan application process, enabling them to more accurately decision by account. This automated integration allows Magnum to process applications with more confidence and optimize efficiencies.
About Magnum
Founded in 1976 as Magnum Communications, Limited, Magnum is a leader in credit data access, analysis and communications. The company offers a wide variety of products and services that enable lenders to make informed, automated decisions regarding credit risk. Using Magnum’s powerful tools, clients can easily access and retrieve relevant data from a broad range of U.S. and international consumer and commercial data sources. Magnum enables its clients to maximize the value of this data to control both scoring attributes and decision criteria. For additional information about Magnum, please contact Ray Bridenbaugh at (770) 952-4940 or visit the company’s Web site at www.magnum.net.
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leading provider of information and services solutions, including its flagship Web-based Lexis® and Nexis® research services, to a wide range of professional in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. A member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in 100 countries with 13,000 employees worldwide.
About LexisNexis Risk & Information Analytics Group
LexisNexis Risk & Information Analytics Group is a natural extension of the core competencies and technologies proven in the LexisNexis online products from the past 30 years. The LexisNexis Risk & Information Analytics Group builds on the LexisNexis tradition as a trusted provider and custodian of quality information, and leverages new cutting-edge technology, unique data and advanced scoring analytics to create advanced decision-making efficiencies, at the point of need. This group is specifically designed to serve the multi-billion dollar risk information industry which is comprised of professionals and organizations such as financial services firms, collection agencies, insurance and health care providers, hiring managers, and other professionals who need to build, manage and assess risk throughout the customer lifecycle.
The LexisNexis Risk & Information Analytics Group delivers point-of-need solutions such as Customer Acquisition & Retention to help companies grow their business and manage the customer lifecycle, Authentication & Screening to ensure quality relationships, Fraud Prevention to detect fraud and conduct due diligence, and Collections Management to recover more revenue. Customers include almost every federal government agency, the top 100 law firms, and Fortune 500 companies in the fields of national security, financial services, collection and recovery, insurance, telecommunications, e-commerce and retail.
LexisNexis and the Knowledge Burst logo are registered trademarks and LexisNexis Risk Management is a trademark of Reed Elsevier Properties Inc., used under license. LexisNexis Risk & Information Analytics Group Inc and Seisint Inc. are a part of the LexisNexis® Risk & Information Analytics Group of companies.
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