News

Fiserv releases updates to fraud-risk-mitigation, anti-money-laundering solutions

October 26, 2009

Fiserv Inc. has announced the availability of Fraud Risk Manager 4.6, the newest version of Fiserv's multichannel fraud detection and management solution. Also available is AML Manager 4.6, the market-leading anti-money laundering solution.

According to a news release issued by Fiserv, both Fraud Risk Manager and AML Manager are designed to enhance and optimize financial crime risk management operation, by delivering fraud and AML-transaction monitoring solutions that are integrated with a common platform for automated alert intelligence and investigation, case management and regulatory reporting.

Offering Fraud Risk Manager and AML Manager on a unified platform allows shared functionality and increased efficiencies, Fiserv says, through potential utilization of common resources and reduced maintenance and hardware costs. As more banks look to consolidate their fraud and AML functions, this unified platform supports the associated business driver for an enterprise-wide view of risk.

Neil Katkov, PhD and senior vice president of Celent's Asia Research Group says financial institutions are seeking ways to integrate their compliance and fraud operations 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.

Part of the Fiserv core competency in risk and compliance, these offerings improve the detection, mitigation and effectiveness of financial crime operations within financial institutions. Fraud Risk Manager and AML Manager are part of the award winning fraud risk and compliance solutions from Fiserv, which include the former Carreker fraud and NetEconomy AML solutions.