ATLANTA, Aug. 21, 2024 /PRNewswire/ -- LexisNexis® Risk Solutions has been recognized as the Silver Medalist in the Fraud Impact Award for Best Digital Identity Verification solution in the Datos Insights' 2024 Fraud Impact Awards. This accolade underscores the company's commitment to excellence and innovation in fraud detection and identity verification. LexisNexis Risk Solutions - Silver Medalist in Datos Insights 2024 Impact Awards for Best Digital Identity Verification Solution LexisNexis Risk Solutions ...

Financial Data and Key Metrics Changes - The company reported a 7% underlying revenue growth and a 10% underlying adjusted operating profit growth, with adjusted earnings per share increasing by 10% at constant currency [17][21][34] - Cash conversion remained strong at 95%, with total free cash flow for the first half exceeding GBP 1 billion [22][23] - The effective tax rate for the first half was 23%, up from the previous year, with net profit increasing by 8% at constant currency [44] Business Line Data and Key Metrics Changes - In the Risk segment, underlying revenue growth was 8% and adjusted operating profit growth was 9%, driven by AI-enabled analytics [7] - The STM segment saw a 4% underlying revenue growth, with a shift towards higher growth segments, although print revenue declined at a rate twice as fast as usual [8] - The Legal segment improved its underlying revenue growth to 7%, up from 6% last year, with adjusted operating profit growth at 9% [9] - Exhibitions delivered a strong underlying revenue growth of 16%, reflecting an improved growth profile [37] Market Data and Key Metrics Changes - The company noted a significant increase in article submissions, with a growth rate of over 20% across the portfolio, indicating a positive trend in the STM market [36][62] - The competitive landscape in the legal sector is evolving, with increased focus on AI tools and analytics, potentially impacting market share dynamics [3][90] Company Strategy and Development Direction - The company’s strategic direction remains focused on enhancing long-term growth through a shift towards higher-value analytics and decision tools [15][16] - The company aims to sustain strong long-term growth in the Risk segment, continue improving growth in STM and Legal, and enhance the growth profile in Exhibitions [16] - The introduction of generative AI tools is expected to further drive growth and customer value [3][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong underlying revenue growth and adjusted operating profit growth for the year, despite potential normalization in article submission growth [47][66] - The company is actively addressing industry challenges related to research integrity and competition from open access publishers [51][62] - Management acknowledged the importance of technology evolution in the legal industry and the need for law firms to adapt [29][90] Other Important Information - The company completed GBP 700 million of its GBP 1 billion share buyback program in the first half and plans to continue with additional buybacks [23][40] - The company has made two small acquisitions for a total of GBP 61 million in the first half [40][45] Q&A Session Summary Question: Concerns about article submission growth impacting future STM organic growth - Management acknowledged the historical high article submission volumes but indicated that normalization should not significantly impact long-term growth rates [4][66] Question: Changes in the competitive landscape over the years - Management confirmed that while the competitive landscape has changed, it does not significantly impact their strategy, as they have been focusing on AI-supported legal analytics for over a decade [3] Question: Performance details within the Risk segment - Management noted that underlying revenue growth in Risk was strong, with specific segments performing better than others, but predicting exact performance remains challenging [33] Question: Expectations for the tax rate for the full year - Management indicated that the 23% tax rate observed in the first half is a good starting point for the full year, with some potential variability [57] Question: Impact of print revenue decline on STM growth - Management stated that while print revenue is declining faster than usual, this is part of a strategic shift towards digital and higher growth segments [8][81] Question: Future growth potential in the Legal segment - Management expressed optimism about improving the growth trajectory in Legal, emphasizing the importance of organic development and partnerships [91][92]

Core Insights - LexisNexis Risk Solutions has been ranked second in the 2024 Chartis Research STORM Retail Finance Analytics50 rankings, highlighting its strong position in the retail alternative credit risk and analytics market [1][3] - The company received three awards: Innovation category, Identity Analytics solutions category, and Alt-Credit solutions category for the second consecutive year, showcasing its advanced capabilities in identity, device, and fraud analytics [1][3][4] Company Overview - LexisNexis Risk Solutions utilizes data, analytics platforms, and technology solutions to help businesses and governmental entities reduce risk and improve decision-making [5] - The company is headquartered in Atlanta, Georgia, and is part of RELX, a global provider of information-based analytics and decision tools [5] Industry Context - Chartis Research is recognized as a leading provider of research and analysis for risk technology, focusing on computational infrastructures and their interactions with various technologies in the finance industry [2][6] - The STORM rankings assess algorithmic engineering innovations across multiple business lines and sub-sectors, indicating a comprehensive evaluation of the market landscape [2][6]

Only 50% of organizations have confidence in their ability to stop scammers. Sixty-nine percent (69%) find it difficult to break a victim's belief or trust in a scammer. Just four percent (4%) of FIs can alert customers to scams involving impersonation of financial services employees within 24 hours. The study, Defend Against Authorized Transfer Scams, finds that fraud risk and mitigation strategy leaders at US financial services institutions understand the importance of both detecting and mitigating scams ...

RELX's subsidiary, LexisNexis Risk Solutions, recently equipped its Accurint Virtual Crime Center with artificial intelligence capabilities by adding a new feature — Accurint AI Insights. The Accurint AI Insights feature uses the LexisNexis Public Safety Data Exchange database to identify crime trends and provide its customers with resourceful insights. RELX (RELX) has returned 15.6% in the year-to-date period compared with the Zacks Internet - Content Industry's growth of 15%. The rise in share price sugge ...

Accurint AI Insights enables users to quickly identify and respond to emerging crime trends. Upon detection of a trend, users receive automated alerts that facilitate rapid analysis of associated data. The platform leverages advanced analytical tools embedded within the Accurint® Virtual Crime Center, aiding law enforcement personnel in making informed operational decisions. "Accurint AI Insights represents our first revolutionary step in public safety with a first-to-market solution in empowering law enfor ...

Claim severity continues to challenge the insurance industry as claims severities have steadily trended upward since the pandemic. Compared to 2020, bodily injury has risen by 20%, along with severity as material damage has increased by 47%. Attorney involvement has helped contribute to the rise in claims costs. Over half (51%) of claimants who hired an attorney received a higher settlement amount. This activity is most prevalent following an auto accident, as 85% of claimants were approached by one attorne ...

MEXICO CITY, June 20, 2024 /PRNewswire/ -- LexisNexis® Risk Solutions has unveiled the findings of its 2023 LexisNexis® True Cost of Fraud™ Study – Latin America. The annual report, based on a commissioned survey conducted by Forrester Consulting, reveals that businesses in LATAM now bear a cost of fraud that is 3.9 times the face value lost in fraudulent transactions. The study also reflects the evolution of criminal tactics. In LATAM, the stage of the customer journey with the highest fraud losses is new ...

The study also reflects the evolution of criminal tactics. In LATAM, the stage of the customer journey with the highest fraud losses is new account creation, presenting the greatest challenge for both financial institutions (46%) and retailers (44%). Criminals are exploiting the growing popularity of digital banking and digital commerce by using stolen or synthetic identities to open fraudulent accounts. Fraud has increased for 65% of Colombian organizations year-on-year. In LATAM, digital channels account ...

Fraud has increased for 59% of Brazilian organizations year-on-year. In LATAM, digital channels account for more fraud losses than physical channels. Four in five Brazilian organizations say fraud is affecting their customer conversion rates. In Brazil, 59% of companies reported an increase in fraud in the 12 months prior to the survey, while organizations incur an average cost of R$3.59 ($3.01 for retailers and $4.49 for financial institutions) for every real lost to fraud. These costs encompass financial ...