BROOKFIELD, Wis. & LONDON–(BUSINESS WIRE)–May 2, 2019–Fiserv, Inc. (NASDAQ: FISV), a main worldwide company of economic offerings generation answers, nowadays announced that a fee scheme inside the Middle East and a frequent bank in Iceland have chosen Fiserv era to streamline anti-cash laundering (AML) procedures and efficaciously manipulate fraud risk.
Mercury Payment Services and Arion Bank have been looking for an issue with established information and join greater than 1,2 hundred groups global that rely upon AML Risk Manager from Fiserv. Both will enforce the solution to address the four essential areas of an anti-money laundering chance control software, along with Know Your Customer (KYC) necessities; tracking, detection and indicators; case-control; and reporting.
“Financial crime is continually evolving as criminals broaden new schemes and methods to execute them,” stated Andrew Davies, vice chairman, international market strategy, Financial Crime Risk Management, Fiserv. “Successful chance mitigation relies upon on a firm’s capacity to maintain pace with changing conditions and incorporate new intelligence at each step of the procedure, and that requires adaptive, configurable technology.”
Mercury Payment Services, a price scheme based in Dubai and a part of Network International, LLC, selected AML Risk Manager as it will allow them to installation AML skills extra quick and take advantage of Fiserv information. Fiserv will manipulate the solution cease-to-give up, which include the administration of watch lists and sanctions screening, assisting to reduce overall fees and the want for in-residence support. The fact that AML Risk Manager can take care of big transaction volumes and is compliant with UAE Central Bank guidelines have been additionally essential issues for Mercury.
“Our rapid increase precipitated a reevaluation of our AML approach and our flow to Fiserv,” stated Deepak Achar, VP, Mercury Payment Services. “They listened to us and it became clear they understood our specific wishes. We have a small in-residence group and running with Fiserv enables us to perform more correctly to come across and save you fraud more effectively.”
Arion Bank, a conventional bank situated in Reykjavik, Iceland, selected Fiserv as a part of an initiative to enhance operational performance and improve AML detection quotes. The bank favored the advanced analytics capabilities of AML Risk Manager, which help reduce fake positives and prioritize alerts, so employees can consciousness on fraud prevention efforts.
“We needed a validated AML platform that could permit us to enhance our fraud detection charge whilst maximizing our crew’s time,” stated Nolan Williams, head of economic crime, Arion Bank. “The robust functionality of the Fiserv answer changed into a draw for us because it intended that we could reduce returned on manual tactics and focus our attention inside the areas where we will have the maximum impact.”
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