Aite Group Recognizes Fiserv with Award for Most Extensible Anti-Money Laundering Solution
- 19.08.2015 01:00 am
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it has been presented with a vendor award for outstanding performance for anti-money laundering (AML) solutions by Aite Group as part of their “2015 Global AML Vendor Evaluation.” AML Risk Manager from Fiserv was acknowledged as the “Most Extensible Solution” in the report.
The Aite Group evaluation highlighted the specific strengths of AML Risk Manager, based on interviews with current Fiserv clients. Strengths reported by clients included openness of design, regulator familiarity and integration with core banking systems to facilitate a seamless transfer of information.
“Our evaluation included interviews with 81 AML executives from 79 financial services companies to best understand their satisfaction with their vendor solutions, current pain points and needs. We found Fiserv provides a well-rounded platform that is capable of serving small financial institutions as well as global organizations,” said Julie Conroy, research director for Aite Group’s Retail Banking practice.”Regulators across the globe are familiar with the Fiserv platform, and the company’s commitment to ongoing development keeps the solution current with regulators’ demands.”
One Fiserv client interviewed by Aite is quoted in the report saying that their organization “is very pleased that it can use a single platform across international boundaries, with a solid and auditable process.” That organization recently completed its latest regulatory exam, which it “passed with flying colors.”
“To continue to be recognized among the market leading AML risk solution providers is a high honor, as we consider excellence in AML risk management to be vital to financial services institutions as well as gaming and money-services organizations ,” said Tim Grace, senior vice president and general manager, Risk & Compliance Solutions, Fiserv. “Being recognized for outstanding performance in this vendor evaluation report reflects the satisfaction of our customers with the breadth and depth of our AML offerings.”
AML Risk Manager provides powerful inference including predictive analytics and visualization, behavioral profiling of any entity, such as customers, accounts, correspondent banks, real-time suspicious activity detection, and the ability to quantify risk mitigation by combining automated risk scoring with expert investigator experience. In addition, the newest release of AML Risk Manager also includes, know your customer (KYC)-adjusted risk measurement/rating, behavioral link analysis, beneficial ownership capabilities and real-time analysis and interdiction.