News

Fiserv buys financial-crime-management company

March 13, 2007

BROOKFIED, Wis. - Fiserv Inc., provider of information-technology services, announced the acquisition of NetEconomy, a financial-crime-management and compliance solutions provider for financial institutions in 58 countries.

Financial terms of the acquisition were not disclosed.

NetEconomy, based in the Netherlands and owned by Esprit Capital Partners, provides solutions that thwart money-laundering, prevent fraud and help ensure compliance.

"NetEconomy's proven products and strong management team will be at the forefront of our efforts to deliver value in the important growth area of enterprise risk-management. We will now be able to provide banks, thrifts and credit unions a superior solution for both anti-money laundering and fraud management which will be integrated into all of our core account processing platforms," said Fiserv president and chief executive Jeff Yabuki. "This is a prime example of how our Fiserv 2.0 strategies come together to benefit clients."

"Fiserv is a trusted and world-class organization, providing end-to-end software solutions, and processing data for accounts and transactions across thousands of financial institutions. As a core building block of Fiserv's enterprise risk, compliance and fraud platform, we look forward to working together to help financial institutions meet the business challenges of risk management and compliance," said Sebastian Kuntz, chief executive officer of NetEconomy. "NetEconomy is delighted to now be part of Fiserv. This will advance our client reach, and accelerate the innovation and development of our fraud, risk and anti-money laundering solutions to better serve and grow our global customer base."

Fiserv will offer a holistic enterprise risk, compliance and fraud solution integrated with all Fiserv core account processing platforms. Fiserv says it plans to provide - either through organic innovation or continued acquisition - client solutions in enterprise risk management, including governance and compliance.

Rahul Gupta, group president of payments and industry products for Fiserv said the NetEconomy acquisition is an essential part of Fiserv's strategy to develop and deliver premier enterprise risk, compliance and fraud-management solutions for FIs worldwide.

"We believe this is the best-in-market platform," he said. "We will continue to invest in advanced real-time architecture that will further enhance fraud detection and prevention capabilities, keeping our value proposition ahead of our competitors."