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SP Angel - Lexis Diligence gave us one source for data in on place, with reach across the globe and with the reassurance that all the information is from trusted sources

SPAngel

SP Angel Corporate Finance is active across a range of sectors and countries, and has successfully completed IPOs and secondary fundraisings for AIM listed and other companies as well as advising on a range of corporate finance and M&A transactions. The research team provides in-depth analysis on corporate clients and the wider sectors in which they operate. Headquartered in London, SP Angel Corporate Finance is a member of the London Stock Exchange (LSE), an AIM Nominated Adviser and Broker, an ISDX Growth Markets Corporate Adviser and is authorised and regulated by the Financial Conduct Authority (FCA).
Challenge

During the last decade scrutiny on corporate finance companies has increased considerably, both due to the regulation being placed on financial institutions by Government and regulators as well as a considerable increase in media interest in the activities of bankers and corporate finance executives.

To remain compliant with all relevant legislation, and to reduce reputational risk, SP Angel needed a robust and effective means by which to conduct due diligence on new and current clients and their company directors.

What we did

LexisNexis® recommended the deployment of Lexis® Diligence. Lexis Diligence provides access to more than 200 company databases with profiles of 130 million entities and global media resources from the most trusted sources in the world. Lexis Diligence enables users to quickly check high-risk entities against global databases of news, company filings, biographies, international legal case history, sanctions and PEP lists to assist proof of identity and reveal associated interests.

John Mackay, Partner at SP Angel Corporate Finance commented: "We were impressed by the global and comprehensive nature of Lexis Diligence, combined with the flexibility shown by the LexisNexis team."

Results
  • All data in one place saves time
  • Global level of cover
  • Trusted sources
  • Ease of use and training support

Whilst there is a wide range of freely available information on the internet for business people in developed markets, this information can be incomplete and from unreliable sources. As John points out "there is a reputational risk involved with using the internet as a source of information. Lexis Diligence gave us one source for data in one place, with reach across the globe and with the reassurance that all the information is from trusted sources."

"The global level of cover in Lexis Diligence is vast with a good level of granularity," continues John. "We can quickly discover lists of other companies that an individual is associated with, a full history of judgements and also identify Politically Exposed Persons." This all helps SP Angel to bring new clients to the business quickly and to rapidly identify any issues with potential new directors.

SP Angel found that implementing Lexis Diligence was a simple process and appreciated the flexible approach that LexisNexis took to their business needs.

"The team at LexisNexis have provided us with a model to use that works for us – in some months we need to use it a great deal and in others very little. LexisNexis has built a structure around these needs." The ease of use of the product and training support provided have also been appreciated by John and the team: "Any issues that we have are quickly and effectively dealt with by the helpline," he comments.

In a matter of months, Lexis Diligence has become an essential part of SP Angel's tools for conducting due diligence checks. John feels the product has been "a great investment. It saves us a huge amount of time and provides clarity on our research on individuals, substantially reducing risk and ensuring compliance with both our own rules and external regulation."

Protect your corporate reputation and avoid penalties with Lexis Diligence

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