Pitney Bowes, a global technology company that provides innovative products and solutions to power commerce, announced a new alliance with RCG Global Services®, a global provider of data and analytics and business applications. The two companies will combine their strengths in data and technology to offer financial crimes and compliance solutions for financial institutions.

With fraud often as a precursor to money-laundering activities, it is imperative that banks have trustworthy and accurate information on their customers. As a result of many on-premise legacy systems and new cloud bases services being used across the financial services industry today, customer data in banking institutions is often housed in disparate databases that cannot communicate with each other or synthesize customer information. Without clear and concise accurate customer data, financial institutions increase their exposure to fraud, non-compliance fees and costly security fines.

By combining the capabilities of the RCG enable™ solution with Pitney Bowes Spectrum® technology, financial institutions now have the ability to access all relevant and current information about a customer across their organizations. Having a single customer view facilitates investigative efficiency, improved regulatory compliance and financial crimes prevention.

Vincent Raineri, Senior Vice President of RCG Global Services stated, “Our architects appreciate the benefits of working with Pitney Bowes tools that are certified with major Hadoop distributions. Our customers appreciate the benefits of lower costs and higher productivity in their fight against financial fraud.” He added, “Our combined solution enables banks to drive down the costs of regulatory compliance while simultaneously increasing their capacity to manage their financial crimes obligations through a simple find, link and visualize approach.”

“We are committed to bringing the most innovative solutions to market with our partners,” said Mark Taylor, Senior Vice President, Software Channels, Pitney Bowes. “RCG’s approach to coupling our technology with their services, analytical capabilities, and business applications is a unique solution which enables financial services clients to manage their customer base and business risk more effectively. Our team welcomes the opportunity to go to market with RCG Global Services.”