News

Fiserv adds solutions to Financial Crime Risk Management Platform

The new components can help financial crime prevention professionals to more effectively detect, investigate and resolve crimes, the company says.

March 10, 2015

Financial services technology Fiserv Inc. has launched four new solutions on its Financial Crime Risk Management platform. These new solutions can help financial crime prevention professionals to more effectively detect, investigate and resolve crimes, a company press release said.

Check Fraud Manager, Payment Fraud Manager, Customer Risk Manager and AML Risk Manager incorporate real-time behavioral risk monitoring, advanced predictive analytics, real-time profile development on any entity, and user manageable rule and strategy creation to help organizations maintain compliance and improve profitability, the release said.

The solutions can be employed individually or in combination for an enterprise approach with a holistic view of a customer's behavior and relationship.

"Industry professionals are increasingly conscious of the impact risk management has on the customer experience and are seeking enterprise-wide platforms that work together seamlessly to provide the highest protection with the least customer impact," said Tim Grace, senior vice president and general manager for financial crime risk management at Fiserv. "Our new solutions and Financial Crime Risk Management platform facilitate a customer-centric, enterprise approach in risk management."  

The release provided further information about each of the new solutions:

• Check Fraud Manager — incorporates new predictive analytic models built on millions of examples of checking transactions, and uses signature analytics and real-time decline capabilities for items presented at the teller window and via Remote Deposit Capture.
• Payment Fraud Manager —delivers real-time responses for wire, ACH, SEPA, SWIFT and emerging real-time payment networks, using advanced predictive analytics and scorecards to focus fraud investigators on highest-risk transactions.
• Customer Risk Manager — provides customer-level profiling and risk scores based on predictive indicators and nonfinancial event information to detect relevant changes in a customer risk profile before a criminal has the opportunity to perform a financial transaction.  
• AML Risk Manager — introduces powerful new predictive analytics and visualization, behavioral profiling of any entity, real-time fraud detection, the ability to quantify risk mitigation through investigation, and beneficial ownership insight.