Product Profile

FICO®Siron® Anti-Financial Crime Solutions

FICO

First Release Date: 31.12.2001

Current Version: Version 1606 / July 2016

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Language Support:

United KingdomFranceGermanyItalyRussiaSpainPortugalGreeceJapanVietnamUnited Arab EmiratesTurkeyRomania

Technology Category: Security & Compliance Anti-money laundering (AML) Compliance/Monitoring Fraud Detection Know your customer (KYC) Tax Authorities Data Big Data Messaging Market and Reference Data Data Management

Product/Service Description

FICO® Siron® Anti-Financial Crime Solutions consists of flexible and highly integrated software modules for:

• Anti-Money Laundering

• Tax Compliance (FATCA, CRS/AEOI)

• Counter-Terrorism Financing

• Know Your Customer

• Business Partner Due Diligence

The building-block design allows variable combination of the products. This paves the way to genuine cost efficiency, transparent total cost of ownership and solutions that can grow along with the challenges of our customers.

Key Features:

• Coverage of all statutory requirements

• Risk-based approach according to FATF

• Full check of customers and transactions

• No IT-knowledge necessary to configure detection scenarios

• Best-practice research scenarios from more than 1,000 of customer installations

• Multi-clients and multi-lingual user interfaces

• Easy integration with existing systems through standardized and flexible interfaces

• 100% audit-proof documentation

FICO® Siron® solutions consistently follow the risk-based approach and support all phases of the compliance process with integrated solution modules: from business risk analysis and customer risk classification to monitoring of transactions and behavioral patterns, and central case management with risk and compliance dashboards.

FICO® Siron® products are highly standardized and parametrizable. They can be combined at will to create custom solutions. Numerous best-practice scenarios from a large number of customer installations have made their way into our standard research products. They guarantee fast roll-out of professional solutions based on the latest compliance knowledge.

FICO® Siron® technology is robust, interoperable, platform-independent and highly scalable. This facilitates integration of our products into existing system environments and provides seamless interaction with third-party applications and databases. The field of application of our products extends from the lean departmental to a cross- and multi-national group solution.

Customer Overview

Total Number of customers over 1,100

Customer Size Large Enterprise , Medium , SMB

Customer Type Commercial Banks , Corporates , Financial Consultants and Auditors , Investment Banks , Securities Lending & Financing Organizations

Target Market Global

Specific georgaphical coverage undisclosed

Pricing Model undisclosed

Demo & Case Study Urls

Features

Coverage of all statutory requirements
Risk-based approach according to FATF
Full check of customers and transactions
No IT-knowledge necessary to configure detection scenarios
Best-practice research scenarios from more than 1,000 of customer installations
Multi-clients and multi-lingual user interfaces
Easy integration with existing systems through standardized and flexible interfaces
100% audit-proof documentation

Benefits

Largely automated driving the daily surveillance with as little effort as possible
System-independently integrated into the IT-infrastructure – investments in additional hard- and software not necessarily needed
Good performance even for high volume of data
Easily adaptable to regulatory changes and highly flexible support of any individual definition of suspicion criteria according to the specific risk of the bank
End user-friendly dialog to bring in the compliance officer’s experience and knowledge of what seems to be suspicious
Audit trail protocols of all operations and definitions including changes - to protect employees from being accused of carelessness
Reasonable costs for license and implementation

Platform & Workflow

Server OS HP-UX (Hewiett-Packard) , Linux (Red Hat, Mandrake, Debian, SuSe, etc.) , Solaris (Sun Microsystems) , UNIX NetWare (Novell) , Windows 10 (Microsoft) , Windows 2000 Server/Advanced Server/Datacentre (Microsoft) , Windows Azure (Microsoft) , Windows Server 2003 R2 Standard/Enterprise/Datacentre/Web Server/Small Business (Microsoft) , Windows Server 2008 (Microsoft) , Windows Vista (Microsoft) , Windows XP (Microsoft)

Workstation OS Windows , Unix , Linux

Programming Language and API JAVA, C++ and Siron®4GL; Standard interfaces to core banking systems and data suppliers

SetUp and Installation Options Depending on customer needs, realization ofon-premise, off-premise, full (virtual) private cloud or hybrid cloud models

Deployment Period Short implementation periods of only 2 to 6 months

Reporting Capabilities FICO® Siron® provides comprehensive reporting capabilities, including risk & compliance dashboards with dynamic drilldown functionality. All necessary reports to comply with international AML/CTF regulations, such as 'Suspicious Activity Reports'

Security Options FICO® Siron®products have been successfully certified by a global auditor. This certification confirms the regularity of the software suite Siron® according to the IDW Auditing Standard IDW PS 8S0.

The product/service compliant with the following regulatory standards USA PATRIOT Act , FATCA

Connectivity, Hosting and Intergration

Hosting Option Hosted by third party , Inhouse , Hosted by provider

Hosting provider Generally offered via local value added partners. Amazon AWS and Microsoft Azure are also supported.

Devices Supported Android , iPhone-iPad , Linux , Mac , Mobile Web App , Web-based , Windows

Compatibility with Database Management System (DBMS) MS SQL Server, Oracle, DB2

Third party integration undisclosed

Additional comments Easy integration with core banking systems (e.g. SAP, Oracle,Temenos, FIS) and data suppliers (e.g. Dow Jones, Thomson Reuters, LexisNexis and many more)through standardized and flexible data interfaces