Releases next generation FCRM platform.
Fiserv, Inc. has announced the release of its next generation Financial Crime Risk Management (FCRM) Platform.
This release brings the abilities for financial crime professionals to model, detect, investigate and resolve risks across crimes, channels and product lines. It does so through new complex event processing capabilities, which is designed to address each financial institution’s unique and evolving set of financial crime threats and business requirements.
“The financial services industry is looking for better and fewer financial crime risk management solutions. Detection systems are being consolidated to drive down cost or replaced to improve hit rates and reduce false positives. Payment execution is faster, criminals abuse the gaps between silos and regulators expect more advanced analytic techniques to combat crime,” said Tom Tobin, vice president and general manager, Financial Crime Risk Management, Fiserv. “Within this context, we believe that the FCRM Platform, with its market-leading behavioural monitoring capabilities, is one of the most powerful and strategic systems available on the market today. Our philosophy is to provide clients with best practices and expert consultants, and ultimately put them in control of continually evaluating and optimizing their own risk protection.”
Fiserv systems and services for account processing, payments processing and digital banking manage and accesses more than 55 million consumer accounts and process transactions totalling over USD1tn per year. Being part of this ecosystem, the FCRM Platform is a logical choice for supporting regulatory compliance and fraud prevention.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
