Fiserv Unveils Fraud Risk Mitigation, Anti-Money Laundering Solutions

Published: 30-Oct-2009

Designed to optimise financial crime risk management operations

Fiserv has launched Fraud Risk ManagerTM 4.6, the latest version of its multi-channel fraud detection and management solution. Also available is AML Manager 4.6, the anti-money laundering solution. Both the solutions are designed to enhance and optimise financial institutions’ financial crime risk management operations, by delivering fraud and anti-money laundering (AML) transaction monitoring solutions, integrated with a common platform for automated alert intelligence and investigation, case management and regulatory reporting.

Fiserv said that offering both the solutions on a unified platform allows it to offer a shared functionality with increased efficiencies through potential utilisation of common resources and reduced maintenance and hardware costs. As more banks look to consolidate their fraud and anti-money laundering functions, this unified platform supports the associated business driver for an enterprise-wide view of risk.

Neil Katkov, senior vice president of Celent's Asia Research Group, said: “Financial institutions are seeking ways to integrate their compliance and fraud operations in order to create an enterprise-wide view of risk, but siloed business units and systems are a significant barrier. Solutions that address this issue have the potential to bring the goal of enterprise compliance closer and to help generate efficiencies on both an organizational and systems level.”

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