News

FIS expands security service portfolio through acquisitions

March 21, 2014

Banking and payments technology provider FIS has acquired ICS Risk Advisors and Memento Inc., two firms in the risk, fraud and compliance market. In a news release, FIS said the acquisitions will allow it to deliver a full complement of solutions aimed at governance, risk, compliance and fraud. 

ICS Risk Advisors develops, implements, maintains and reviews enterprise risk management and regulatory compliance programs for financial institutions. The company's staff of consultants is comprised primarily of former federal regulatory examiners, the FIS release said.  

Memento delivers enterprise fraud management solutions that help to protect financial institutions from wide-ranging, costly threats, and enable stakeholders to measure the true value of loss prevention investments, according to FIS.

"By integrating both companies' offerings into our existing suite of solutions we are meeting the growing needs of our clients to manage these issues at both a point solution and an enterprise level," said Kay Nichols, EVP of channel solutions at FIS. "The acquisitions further enable us to position FIS as a single, trusted partner for all of a financial institution's risk, fraud and compliance needs."