Anti-Fraud/AML Software optimize financial crime risk management.October 7, 2009 -
Extensible to new and evolving payment types and channels, Fraud Risk Manager(TM) 4.6 monitors transactions as well as customer characteristics, account information, and non-financial events. Program includes library of over 300 user-configurable alert definitions plus ability to create new alert functions. To prevent money laundering, AML Manager 4.6 combines risk-based transaction monitoring, watch list filtering, CDD/KYC features, investigation tools, case management, and automated reporting.
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
Original Press release
FISERV, Inc.
255 Fiserv Dr.
Brookfield, WI, 53045
USA
Fiserv Unveils Latest Fraud Risk Mitigation and Anti-Money Laundering Solutions
New releases designed to optimize financial crime risk management operations
Brookfield, Wis., September 30, 2009 - Fiserv, Inc. (NASDAQ: FISV), the leading global
provider of financial services technology solutions, today announced the availability of Fraud Risk Manager(TM) 4.6, the newest version of its multi-channel fraud detection and
management solution. Also available is AML Manager 4.6, the market-leading anti-money
laundering solution. Both Fraud Risk Manager and AML Manager from Fiserv are designed
to enhance and optimize financial institutions' financial crime risk management operations, by delivering best-in-class fraud and anti-money laundering (AML) transaction monitoring solutions, integrated with a common platform for automated alert intelligence and investigation, case management and regulatory reporting.
Offering Fraud Risk Manager and AML Manager on a unified platform allows for not only
shared functionality but also increased efficiencies through potential utilization of common resources and reduced maintenance and hardware costs. As more banks look to
consolidate their fraud and anti-money laundering functions, this unified platform supports the associated business driver for an enterprise-wide view of risk.
Neil Katkov, PhD, senior vice president of Celent's Asia Research Group said, "Financial institutions are seeking ways to integrate their compliance and fraud operations in order to create an enterprise-wide view of risk, but siloed business units and systems are a significant barrier. Solutions that address this issue have the potential to bring the goal of enterprise compliance closer and to help generate efficiencies on both an organizational and systems level."
Additional Fiserv Contact:
Lori Stafford-Thomas
Assistant Vice President
Corporate Communications
Fiserv, Inc.
262-879-5130
lori.stafford@fiserv.com
For more information contact:
Media Relations:
Gillian Clare
Director of Marketing
Financial Control Solutions
Fiserv, Inc.
+44 (0) 845 013 1036
gillian.clare@fiserv.com
"At Fiserv, we are taking a 'glass bottom boat' approach to our risk management strategy - that is, to provide a complete and consolidated view of all risk and risk mitigation plans across the entire enterprise," said John Filby, president, Risk Management Solutions at Fiserv. "Our vision is to deliver the market leading suite of financial crime risk management products through integration and delivery of our best-in-class fraud and anti-money laundering transaction and event monitoring systems. The latest releases that we are announcing today are a vital part of the delivery on this vision."
Fraud Risk Manager 4.6
Extensible to new and evolving payment types and channels, Fraud Risk Manager 4.6 is an
end-to-end, scalable environment combining innovative transaction and customer
monitoring for highly accurate detection. With a library of more than 300 user-configurable alert definitions from which to select, coupled with the ability for clients to create entirely new alert definitions, Fraud Risk Manager 4.6 from Fiserv is designed to provide extensive coverage to protect against fraud losses and to allow users to quickly adapt to new fraud threats.
Fraud Risk Manager 4.6 monitors not only transactions, but also customer characteristics, account information and non-financial events, such as an address change, new debit card and PIN requests or change in ownership. Fraud Risk Manager also combines multiple monitoring techniques including profiling, predictive analytics, peer group analysis and rules to detect more fraud with lower false positives, thereby reducing both fraud losses and mitigation expenses.
AML Manager 4.6
The industry's top-selling solution in 2007 and 2008 as ranked by IBS Publishing, AML
Manager from Fiserv is a fully integrated, easily deployable and highly effective anti-money laundering system. It combines sophisticated risk-based transaction monitoring, watch list filtering, CDD/KYC features, investigation tools, case management and automated reporting, delivering the highest degree of detection accuracy and operational efficiency.
The 4.6 release offers several new or optimized capabilities in areas like list matching, behavioral profiling and reporting. For financial institutions with U.S. operations, it also can assist with remaining compliant with regulations such as the Fair and Accurate Credit Transactions Act (FACTA) Red Flags and the new NACHA IAT operating rules.
Part of the Fiserv core competency in risk and compliance, these offerings improve the
detection, mitigation and effectiveness of financial crime operations within financial services institutions. Fraud Risk Manager and AML Manager are part of the award winning fraud risk and compliance solutions from Fiserv, which include the former Carreker fraud and NetEconomy anti-money laundering solutions.
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.
Additional Fiserv Contact:
Julie Nixon
Public Relations Manager
Financial Institution Services
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
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