Visma Connect, the leading Dutch critical payments services provider and FICO have launched a partnership to jointly deliver FICO’s best-in-class Anti-Financial Crime solutions for Know Your Customer (KYC), anti-money laundering (AML) and real-time sanctions screening to banks, FinTechs, payment institutions, PSD2 third-party providers and corporations. 

In the new partnership, Visma Connect will offer the FICO® Siron™ Anti-Financial Crime software to its customers as a SaaS solution and provide the IT and platform integration. FICO’s Anti-Financial Crime solutions will be offered as an integral part of Visma Connects Critical Payments SaaS portfolio. 

Both companies will cooperate throughout Europe, with an initial focus on The Netherlands and the Nordics. 

“Financial services providers face greater regulatory requirements and typically spend over 4% of their total revenue on compliance,” said Juergen Krieg, senior director for sales at FICO. “Regulators are urging financial services companies to increase their efforts to fight financial crime and terrorist financing, and FinTechs and new PSD2 third-party providers are increasingly required to continuously monitor their processes. In addition, with the advent of SEPA Instant Payments, the current batch-based sanctions screening no longer suffices and needs to be upgraded to 24/7 and real-time screening. Our partnership with Visma Connect is aimed at helping all kinds of payment providers meet these demands with less effort and expense.”

Marnix Harbers, Tribe Lead Payments at Visma Connect: “The industry is facing ever stronger regulatory demands. Our payment services and the FICO Anti Financial Crime services are always compliant, but don’t require large upfront investments. We’ll take care of integrating, running and maintaining the latest software technology and infrastructure. Our clients can focus on their business.”

FICO®  Siron™ Anti-Financial Crime Solutions is the most widely used KYC, AML and Embargo software in the world, evidenced by more than 1,200 installations in over 90 countries.