The True Cost

LexisNexis Risk Solutions Study Reveals Global Financial Crime Compliance Costs for Financial Institutions Totals More Than U.S.$206 Billion

Retrieved on: 
Tuesday, September 26, 2023
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ATLANTA, Sept. 26, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions released its annual True Cost of Financial Crime Compliance Report.

Key Points: 
  • ATLANTA, Sept. 26, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions released its annual True Cost of Financial Crime Compliance Report.
  • The study examines how financial institutions navigate the expenses and challenges tied to evolving financial crime compliance requirements.
  • The report offers insight into the worldwide financial cost of compliance, with financial institutions bearing a total cost of U.S.$206.1 billion.
  • The study reveals that EMEA financial institutions and their customers continue to incur a more substantial expense for financial crime compliance compared to other regions.

“Forgotten” 401(k) Accounts Grow to $1.65 Trillion of Assets, According to New Analysis by Capitalize

Retrieved on: 
Wednesday, June 14, 2023
Professional Services, Apps, Applications, Technology, Finance, Personal Finance, Accounting, Growth, Employment, Retirement, Friction, Research, The True Cost, Financial adviser, Capitalization

Capitalize, the award-winning platform to transfer retirement accounts, today released an update to its widely-cited 2021 white paper, The True Cost of Forgotten 401(k) Accounts.

Key Points: 
  • Capitalize, the award-winning platform to transfer retirement accounts, today released an update to its widely-cited 2021 white paper, The True Cost of Forgotten 401(k) Accounts.
  • The company’s analysis also suggests that forgotten 401(k) accounts could cost an individual several hundred thousand dollars in foregone retirement savings over 30 years in a worst-case scenario.
  • “We’ve seen people change jobs at elevated rates - and leave their 401(k) accounts behind as they go from job to job.
  • For full details of the analysis and findings on forgotten 401(k) accounts, visit https://hicapitalize.com/resources/the-true-cost-of-forgotten-401ks/ .

Capitalize To Power Rollovers for Robinhood Retirement Account Holders

Retrieved on: 
Wednesday, March 22, 2023
Professional Services, Technology, Finance, Software, Fintech, Accounting, Partnership, Research, IRA, CRR, Center for Retirement Research at Boston College, Retirement, The True Cost, Financial adviser, IRAS, Capitalization

Capitalize , the award-winning platform to find and transfer retirement accounts, today announced a new partnership with Robinhood Markets, Inc (NASDAQ: HOOD).

Key Points: 
  • Capitalize , the award-winning platform to find and transfer retirement accounts, today announced a new partnership with Robinhood Markets, Inc (NASDAQ: HOOD).
  • Capitalize’s partnership with Robinhood Retirement will help customers find and roll over legacy 401(k) accounts into Robinhood’s new individual retirement accounts (IRA).
  • Additionally, Robinhood will be featured on Capitalize’s leading IRA marketplace as a potential destination for users looking to consolidate their legacy 401(k) assets.
  • Partners like Robinhood understand the hurdle this presents to growing wealth and want to help their users more effectively save for retirement,” said Gaurav Sharma, CEO of Capitalize.

Cross Country Infrastructure Services Leads Innovation in Renewable Energy Construction Markets with Groundbreaking Construction Equipment

Retrieved on: 
Tuesday, March 7, 2023
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The new range of equipment was developed in response to the increasing demand for renewable energy construction projects across the United States.

Key Points: 
  • The new range of equipment was developed in response to the increasing demand for renewable energy construction projects across the United States.
  • Cross Country Infrastructure Services is committed to providing the highest quality equipment and services to their customers.
  • With their new range of equipment, Cross Country Infrastructure Services is leading the way in innovation in the renewable energy construction industry.
  • For more information on Cross Country Infrastructure Services and their new range of state-of-the-art construction equipment, visit their website at www.crosscountryis.com .

LexisNexis Risk Solutions True Impact of Failed Payments Report Reveals 70% of Corporations and Financial Institutions are Frustrated with Their Payment Failure Rate

Retrieved on: 
Wednesday, February 22, 2023
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ATLANTA, Feb. 22, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions today released the results of its True Impact of Failed Payments Report, a snapshot of cross-border payments performance on a global scale. The report assesses insights collected from 400 payment executives representing leading corporations and financial institutions across the APAC, EMEA, LATAM and North America regions. 

Key Points: 
  • The report assesses insights collected from 400 payment executives representing leading corporations and financial institutions across the APAC, EMEA, LATAM and North America regions.
  • The costs associated with failure or delay only compounds these issues, with an average per payment fee of U.S. $12.10 for rejected or repaired payments.
  • The True Cost of Failed Payments study was independently conducted in the fall of 2022 by Capgemini Invent® on behalf of LexisNexis® Risk Solutions.
  • The study surveyed 400 decision-makers representing leading corporations, financial institutions, banks and non-financial corporations across the APAC, EMEA, LATAM and North America regions.

Amid Rising Inflation and Worker Desire for Higher Wages, Bluecrew Reveals Hidden Costs Associated with Recruitment and Employment

Retrieved on: 
Wednesday, January 18, 2023
Professional Services, Data Management, Technology, Human Resources, Software, Networks, Internet, Tax, Insurance, Unemployment, DailyPay, Bureau of Labor Statistics, FUTA, Employment, Workforce, Federal Unemployment Tax Act, The True Cost, Recruitment, Tutoring, Employment agency, Lists of companies

Findings from the report, “ The True Cost of Recruitment and Employment ,” show that, on average, the annual turnover for hourly workers can be as high as 49%.

Key Points: 
  • Findings from the report, “ The True Cost of Recruitment and Employment ,” show that, on average, the annual turnover for hourly workers can be as high as 49%.
  • In fact, turnover for a 50-person workforce could cost companies more than $168,000 per year.
  • The high costs associated with recruitment shouldn’t just be accepted as a part of doing business,” said Bluecrew Chief Customer Officer, Matt Laurinas.
  • The True Cost of Recruitment and Employment study compiles recent data from credible public resources to provide an overview of the hidden costs associated with how much American businesses spend annually to recruit, employ, and retain an hourly workforce.

True Names Global Leaders for Climate Tech and Healthcare & Life Sciences Practices

Retrieved on: 
Wednesday, November 16, 2022
Environment, Human Resources, Thought Leadership, Professional Services, Green Technology, Biotechnology, Pharmaceutical, Health, Science, Other Science, Food, Health, CFO, Rafe, Health care, Entrepreneurship, Ecosystem, Low-carbon economy, Video game, Management, Pharmaceutical industry, Fine chemical, The True Cost

True , the premiere global platform of innovative talent management products and services, announced today the appointment of EMEA and APAC leaders for True Searchs Climate Tech practice and Healthcare & Life Sciences practices.

Key Points: 
  • True , the premiere global platform of innovative talent management products and services, announced today the appointment of EMEA and APAC leaders for True Searchs Climate Tech practice and Healthcare & Life Sciences practices.
  • Partner Nathaniel Hook , formerly managing director of global executive search firm WittKieffer, is now Head of Healthcare & Life Sciences practices, EMEA and APAC.
  • Nathaniel Hook - Head of Healthcare & Life Sciences Practices, EMEA and APAC - London, U.K.
  • The healthcare and life sciences industries are global in scope with critical players across EMEA, APAC and North America.

Annual LexisNexis Risk Solutions Report Finds Fraud Costs up to 22.4% from Pre-Pandemic Levels Across U.S. and Canadian Financial Services Firms

Retrieved on: 
Wednesday, November 16, 2022
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ATLANTA, Nov. 16, 2022 /PRNewswire/ -- LexisNexis® Risk Solutions today released the findings of its 2022 LexisNexis® True Cost of Fraud™ Study: Financial Services and Lending. This sixth edition of the report examines current fraud trends for more than 500 United States and Canadian financial services and lending companies and highlights key pain points related to the addition of new payment mechanisms, online and mobile channel transactions and international expansion. The survey was conducted between May and July 2022.

Key Points: 
  • U.S. and Canadian financial services firms' fraud costs continue to rise.
  • Every $1 lost to fraud now costs U.S. financial services firms $4.23 compared to $3.64 in 2020, a 16.2% increase.
  • The cost for Canadian financial services firms rose 19.6%, from $3.16 in 2020 to $3.78 in 2022.
  • Key Findings of the True Cost of Fraud Study: Financial Services and Lending
    Attacks and Costs: Fraud costs and attack volumes for financial services firms remain significantly higher compared to before the pandemic.

LexisNexis Risk Solutions Study Shows Nearly Half of Participating Healthcare Payers Experienced a Data Breach in the Last Five Years, Costing an Average of $5.39M per Incident

Retrieved on: 
Wednesday, November 2, 2022
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ATLANTA, Nov. 2, 2022 /PRNewswire/ -- LexisNexis® Risk Solutions, the leading provider of healthcare data analytics and technology, today released its True Cost of Fraud™ for Healthcare Payers study, which analyzes the impact cyberfraud has on healthcare payers, particularly how much it costs their business, and inevitably affects the overall cost of care. The recent growth in digital health strategies, where data is more widely shared and analyzed, presents significant opportunity to improve access, engagement and patient care. At the same time, the proliferation of digital health is also correlated with an increase in cybercrime. This report explores these vulnerabilities and the steps organizations should take to mitigate their risk.

Key Points: 
  • Almost half (49%) of respondents say they have experienced a data breach in the last five years, involving an average of 12,000 compromised records per incident and costing an average of $5.39M per incident.
  • Of the payers who experienced a breach in the last five years, nearly all (85%) report that cyberattacks and breaches have a negative impact on their brand reputation.
  • Additionally, the average cost of a breach for these organizations is significantly less $3.5M compared to $5.39M overall.
  • We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government.

Lumin Digital Partners with BioCatch to Enhance Fraud Detection Services

Retrieved on: 
Monday, October 24, 2022
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SAN RAMON, Calif., Oct. 24, 2022 /PRNewswire/ -- Lumin Digital (Lumin) has announced a partnership with BioCatch , the pioneer behavioral biometric technology enabling advanced fraud prevention.

Key Points: 
  • SAN RAMON, Calif., Oct. 24, 2022 /PRNewswire/ -- Lumin Digital (Lumin) has announced a partnership with BioCatch , the pioneer behavioral biometric technology enabling advanced fraud prevention.
  • BioCatch technology allows Lumin clients to monitor for risk continuously throughout every online session, analyzing actions like mouse movements, typing cadence, or interaction with the screen.
  • "BioCatch is committed to supporting Lumin's banking customers and expanding the standard in digital banking by providing best-in-class fraud protection and seamless user experiences.
  • Today, BioCatch counts over 25 of the top 100 global banks as customers who use BioCatch solutions to fight fraud, drive digital transformation and accelerate business growth.