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| [February 18, 2013] |
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Fiserv Awarded "Best-in-Class" Rating in 2012 Anti-Money Laundering Technology Review
BROOKFIELD, Wis. --(Business Wire)--
Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that its Financial
Crime Risk Management (FCRM) platform has been awarded a
"Best-in-Class" rating in the Enterprise Support category in the CEB
TowerGroup 2012 Anti-Money Laundering Technology Review.
"There are two relentless forces in the anti-money laundering space: the
criminals who are launching increasingly sophisticated and far-reaching
attacks and the regulators charged with stopping them," said CEB
TowerGroup research director Andy Schmidt. "For the financial services
institutions caught in the middle, this requires a solution mature
enough to support the entire business, scalable enough to accommodate
continued transaction growth and useable enough to facilitate
streamlined workflow management."
The FCRM platform also received high marks for front-end usability and
back-end configurability. The report highlighted that CEB TowerGroup
analysts were impressed by the layout of the interface, which
facilitates streamlined workflow management.
Fisrv was also highly ranked in the Detection Tools category, where the
combination of behavioral profiling and analytics-based approaches in
combination with flexible rules to identify potential money laundering
behavior were highlighted as key strengths.
"Increasing regulatory expectations, tougher penalties for
non-compliance and country-specific and international standards are all
challenges that financial institutions are grappling with. Criminals are
finding new ways to 'pick the locks' of institutions so it is important
that institutions stay one step ahead of financial crime patterns," said
Mike Urban, director, Financial Crime Risk Management Solutions,�Fiserv.
"Our solution is a critical element of an overall financial crime
mitigation strategy - with advanced analytics, flexible case management
tools and multi-channel capabilities it can be used to combat anti-money
laundering as well as an enterprise solution against fraud and other
types of financial crime. We are delighted that the CEB TowerGroup has
recognized our platform as being an advanced solution in the
ever-evolving fight against financial crime."
Financial Crime Risk Management is part of the Risk and Compliance core
competency from Fiserv through which the company offers a unique breadth
of solutions to help clients optimize usage and return on capital by
making risk transparent and actionable within their organizations.
Solution sets in the Risk and Compliance core competency include
Financial Crime Risk Management, Financial Risk Management, Financial
Performance Management and Financial Control Solutions.
Additional Resources:
About Fiserv
Fiserv, Inc. (NASDAQ:�FISV) is a leading global technology provider
serving the financial services industry, driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit�www.fiserv.com.
Technology Assessment Disclaimer
CEB does not endorse any vendor, product or service depicted in our CEB
TowerGroup publications and does not advise technology users to select
only those vendors rated "best in class." CEB TowerGroup research
publications consist of the opinions of CEB TowerGroup's analysts and
should not be construed as statements of fact. CEB disclaims all
warranties, expressed or implied, with respect to this research,
including any warranties of merchantability or fitness for a particular
purpose.
FISV-G
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