December 9, 2013 - Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced the release of its next generation Financial Crime Risk Management (FCRM) Platform.
This major release brings unique abilities for financial crime professionals to effectively and efficiently model, detect, investigate and resolve risks across crimes, channels and product lines. It does so through new complex event processing capabilities, designed to address each financial institution's unique and evolving set of financial crime threats and business requirements.
This powerful new framework enhances a comprehensive platform – with anomaly detection, list matching, alert review, investigation tools, case management and reporting – that more than 1,000 institutions around the world already rely on to address business problems and regulatory requirements around AML, sanctions, fraud, FATCA and more.
"The financial services industry is looking for better and fewer financial crime risk management solutions. Detection systems are being consolidated to drive down cost or replaced to improve hit rates and reduce false positives. Payment execution is faster, criminals abuse the gaps between silos and regulators expect more advanced analytic techniques to combat crime," said Tom Tobin, vice president and general manager, Financial Crime Risk Management, Fiserv. "Within this context, we believe that the FCRM Platform, with its market-leading behavioural monitoring capabilities, is one of the most powerful and strategic systems available on the market today. Our philosophy is to provide clients with best practices and expert consultants, and ultimately put them in control of continually evaluating and optimizing their own risk protection."
The FCRM Platform from Fiserv provides a holistic view, learning not just the behaviour of customers across their accounts, but also of any entity relevant for judging the security and integrity of payments and other events. The platform can also incorporate alerts from other systems and drive risk-based authentication or due diligence.
Fiserv is trusted to securely process billions of payments every year and to protect the security and integrity of customer accounts, access channels and financial transactions. Fiserv systems and services for account processing, payments processing and digital banking manage and access more than 55 million consumer accounts and process transactions totalling over $1 trillion per year. Being part of this ecosystem, the FCRM Platform is a logical choice for supporting regulatory compliance and fraud prevention.
In addition to direct installations, the new complex event processing capability will also be integrated through a series of incremental releases, starting with Signature® and selected DNA™ clients and extending to other account processing platforms through 2015.
