Today Silicon Valley analytic software firm FICO reported that consumer online lender 4finance Group deploys the FICO TONBELLER Siron Anti-Financial Crime Solutions to ensure anti-money laundering regulatory compliance across its global network. Supported by the FICO Analytic Cloud and Amazon Web Services, the FICO solution has been deployed by 4finance Group in nine EU countries and in Georgia in six months, and is being rolled out across the rest of the lender's global network. 

Headquartered in Latvia, 4finance Group uses the FICO modules Siron AML (Anti-Money Laundering) to monitor customer activity, and Siron KYC (know your customer) to do customer due diligence, including PEP (politically exposed persons) sanctions, and known criminals screening.

4finance Group had sought a global AML/KYC service to help address the upcoming 4th EU Anti Money Laundering directivecompliance requirements. The system had to execute compliance checks without impacting the fast credit decisions that are a hallmark of 4finance's Group's success.

"We operate in 17 countries that have different regulations, so we needed a flexible compliance platform," said Sanda Laicēna, Head of Group Legal and Compliance. "We also need a cloud-based approach that integrates with our systems, many of which we built ourselves. After an exhaustive review of the AML and CTF compliance market, we found that FICO could meet all our needs for flexibility, reliability and performance. The FICO solution will safeguard 4finance Group while ensuring we can provide the best customer service."

Launched in 2008, 4finance Group is Europe's largest online and mobile consumer lender. It has become one of the fastest growing global consumer finance companies, disrupting and reshaping consumer finance, offering fast and convenient access to credit. To date, 4finance Group has made loans totalling €4+ billion. The FICO solution is designed to scale as 4finance's business grows, making it easy to add users, transactional volume and additional capabilities beyond the initial deployment.

"As a fintech leader, 4finance Group has different requirements to a large bank, and places a higher priority on speed and flexibility," said Torsten Mayer, vice president for compliance solutions at FICO. "Our success with 4finance Group proves that FICO TONBELLER can address the needs of the fintech segment as well as banks with various asset values." 

FICO TONBELLER's Siron® Anti-Financial Crime Solutions suite consists of flexible and highly integrated software modules for anti-money laundering, tax compliance, CTF, end-to-end KYC and other issues, to provide a risk-based approach out-of-the-box. The Siron solutions suite in the cloud integrates data, software and services in an innovative manner that enables users to add new countries or regions in a few days, as opposed to months. The Siron solution leverages the FICO® Analytic Cloud and the AWS cloud infrastructure to offer a secure, reliable and high-performance solution and meet the rigorous standards for financial services offerings in the cloud. 

The Siron suite is part of FICO's portfolio of solutions for fraud and financial crime, which also includes the FICO Falcon Fraud Platform, protecting more than 2.6 billion payment cards worldwide. FICO acquired TONBELLER in early 2015.

Netlogic Solutions, Inc, a major provider of Managed IT Services, Oracle Services, Cloud Computing, and Project Management Services, is delighted to announce that they had achieved a CMMI Level 2 in Services rating during their recent Capability Maturity Model Integration appraisal. This is in addition to their existing CMMI Level 2 Certificate in Development. Netlogic is proud of their CMMI Certifications as they can now offer their clients the added benefit of accurate project cost predictions with proven quality business results that serve as discriminators among their competitors.

Today Zenmonics, a global technology services provider serving the banking and financial technology market, reported a new strategic alliance with MX, the world's fastest-growing fintech company, to provide unified financial data and intuitive money management tools to its digital transformation platform, channelUNITED.  The companies announced the partnership in conjunction with delivery to a shared top-100 financial institution. 

MX will deliver cleansed and categorized transaction data that makes spending behavior easier to interpret, along with redundant, reliable multi-source aggregation that paints a comprehensive financial picture for customers across their accounts. MX's award-winning user interface further assists banking customers in formulating budgets, analyzing their spending, paying down debts and assessing net worth.

"Given our focus on not only delivering a unified experience across channels but delighting users, MX's money management tools held great appeal," said Jeff Jones, COO of Zenmonics. "Helping customers better understand their financial health and become financially strong through these digital tools is critical in strengthening the trust with their financial institution."

The partnership will also provide Zenmonics clients with access to MX's Insight & Target, an analytics & marketing engine allowing financial institutions to identify their customers' external accounts — mortgages, auto loans, credit cards — and compete for that business through superior offers. 

"Data is at the heart of what we do. Whether it's enabling the user to save money through proper budgeting or enabling their financial institution to better understand that user's needs and grow share of wallet through tailored offers," said MX Founder and CEO Ryan Caldwell. "We're especially excited to be delivering these capabilities through a partner like Zenmonics, given their industry leading omni-channel experience and commitment to the digital transformation of banking."

Today iMeta, an advanced world's provider of client data management solutions, revealed it has selected JWG’s RegDelta, the leading regulatory change management platfor, to provide a full regulatory rule set for the iMeta Client Lifecycle Management platform.

JWG’s RegDelta platform allows thousands of pages of detailed operational obligations to be organised, interpreted and actioned in a cost-effective way so that both buy and sell side institutions can prove compliance. Rules are updated and maintained on an ongoing basis and in accordance with individual business footprints; a welcome relief to senior management looking at the onslaught of vast amounts of obligations across multiple rules like MiFID II, Dodd-Frank, SFTR, EMIR, AMLD IV, CRS, IRS and others this year.

JWG developed the RegDelta platform in collaboration with regulators, financial institutions and partners. Designed from first principles, it is a golden source of all relevant regulatory obligations for an organisation. The platform provides users with a multi-thousand term topic ontology that simplifies context at the paragraph and footnote level, and a next generation rule interpretation engine. RegDelta allows firms to maintain a full audit trail and traceability and links to future change cycles, while providing superior custom reporting and an open API to feed data and analysis into external tools.

By using the RegDelta platform, iMeta can provide a set of optional configuration plug-ins to iMeta CLM (iMeta’s onboarding and lifecycle management platform), which will deliver rule sets for all applicable regulations for the onboarding and client lifecycle domain, across multiple jurisdictions. Through the CLM rules engine capabilities, iMeta clients will have full traceability from the relevant regulation to the interpretation and individual rules. Subsequently, iMeta clients can leverage actionable insight to improve operational functions, drive compliance and enable holistic risk management across the enterprise at a manageable cost.

Ben Marsh, iMeta CEO, said: “This is a great partnership for iMeta, enabling us to leverage proven regulatory experts, backed up with robust process and tooling. This capability will enhance our onboarding and client lifecycle management platform and will allow our customers to benefit from regulatory surety, by enabling the full end-to-end audit of regulatory content and policy, from source through interpretation, to application in operations.”

Blythe Barber, Managing Director JWG, commented: “Innovative RegTech platforms like our RegDelta are increasingly important for financial institutions as a rigorous, data-driven, enterprise-wide approach is necessary to ensure compliance to regulation both now and in the future. We are pleased to support iMeta and enable holistic risk management across the enterprise.”

iMeta CLM is a complete end-to-end onboarding and client lifecycle management solution, capable of handling the regulatory and operational data requirements of financial institutions. With a highly flexible data model, workflow and business rules engine that can be configured in-house, the system is able to comply with existing Know Your Customer (KYC) and regulatory demands including MiFID II, DFA and EMIR. By implementing iMeta CLM, firms will realise greater efficiencies, save time, reduce costs and improve customer relationships.

For more information visit: https://imeta.com/.

ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, is proud to announce that its leader Mr. Robert Hazboun is recognized as one of the top 20 CEOs of the year 2017 by the CEO Insight Magazine. 

The CEO Insight Global awards acknowledge best practice and innovation across the business community, the list reflects the best and the brightest pioneers in business today, they shine a spotlight on the people that lead the pack in terms of innovation. However, the best CEOs generally deliver strong performance over many years, and its list of top performers features the business leaders who have proved themselves over. the entire length of their tenure.

The publisher of CEO Insight Magazine, Mr. Jamie Harrison commented:

​ “Mr. Robert Hazboun has continuously demonstrated excellence over many years leading the global growth of ICS Financial Systems (ICSFS). His brand leadership, customer focus and corporate culture skill sets has advanced and accelerated the awareness of the ICSFS brand, the adoption of ICSFS solutions and the penetration of new products and new markets.”

Mr. Robert Hazboun, Managing Director of ICSFS, commented on this occasion:

“We are delighted to receive such an award, as we, at ICSFS have been considered as a global leader in embracing innovative technology, delivering superior services accompanied by strong performance.” Hazboun added; “I am proud of our achievements, where this award symbolises my contribution to ICSFS’ objective in offering bespoke state-of-art financial products and services.” 

Today YES BANK, one of the largest Indian private sector banks, launched cashless payment solution for Nashik Smart City, in partnership with the Nashik Municipal Corporation (NMC) to aid the Government’s dream of a less-cash economy.

German Robo Advisor Ginmon and other FinTechs move into the new center “The Spot” and settle in Frankfurt’s financial district. With a monthly growth rate of 30 percent and 30 employees an extension of area became necessary for Ginmon. The new accommodation of 400 square meters is situated in the new founded FinTech-Hub “The Spot” (Mainzer Landstraße, nearby François-Mitterrand-Platz). Ginmon’s new office is close to the financial district as well as to the quarter around the railway station. “The new location symbolizes our image as a reachable and accessible financial service provider. The city of Frankfurt matches with our global ambitions”, Lars Reiner, founder and managing director of Ginmon, explains. 

Payscape Financial technology provider, has teamed up with Atlanta’s Embassy National Bank, to provide local businesses with the latest financial products and services that will allow them to increase cash flow, process payments, and streamline their business operations through innovative software solutions.