Fiserv Inc., provider of financial-services technology solutions, has been named by IDC Financial Insights as a leading vendor of payments-fraud management solutions.
According to a news release from Fiserv, IDC's December 2009 report provides a detailed assessment and comparison of the payments-fraud solutions provided by six vendors.
The report, "Vendor Assessment: Industry Short List for Payments Fraud Management Software — The Move to Enterprise Fraud Management," evaluates technology providers based on how well their products fit market needs and provide confidence in ownership. The fit to market assessment uses criteria that assess the strength of a product in terms of feature/functionality, interoperability, architecture, quality of service, and support and cost. The ownership confidence assessment addresses the soundness of a technology supplier's strategy, financials, commitment to an industry, and customer satisfaction.
Fiserv achieved the highest level of assessment in the ownership confidence category, and the second-highest level of assessment in the fit-to-market category.
"Fiserv achieved an overall high rating based mainly on its powerful combination of broad functionality with strong professional services and customer support," said Aaron McPherson, practice director for IDC Financial Insights.
Part of the core competency in risk and compliance, Financial Crime Risk Management solutions from Fiserv are designed to enhance and optimize financial institutions' financial-crime risk-management operations by delivering fraud and anti-money laundering transaction-monitoring solutions, integrated with a common platform for automated alert intelligence and investigation, case management, and regulatory reporting.
"Every year, payment systems fraud is becoming more advanced and complex," said John Filby, president of Fiserv's Risk and Compliance Solutions. "We are committed to providing the financial-services industry with intuitive, flexible and innovative fraud-management solutions that address these increasing risks. Fiserv is honored to be recognized by IDC Financial Insights for the quality of our solutions."
