Malta-based FIMBank has partnered with fintech Fiserv to enhance its financial crime risk management (FCRM) capabilities.
Robust functionality will assist the bank in managing risk and meeting regulatory requirements while providing scalability to accommodate growth and flexibility to adapt to a rapidly changing fraud environment.
“As a bank with a global presence, we take our financial crime and risk management responsibilities seriously, and have invested in technology that enables us to monitor transactions at scale and in a timely manner, commensurate with the size and nature of our business,” said Michael Davis, Group Chief Compliance Officer, FIMBank plc. “Utilising proven solutions from Fiserv provides insight into money movement activity and helps us gauge and effectively manage money laundering risks.”
The FIMBank Group was seeking to deploy a FCRM solution that incorporates a full range of integrated anti-money laundering (AML) and internal fraud support. The bank has implemented AML Risk Manager and Watch List Manager, built on the Financial Crime Risk Management platform from Fiserv, to detect, investigate, and resolve financial crime.
“As criminals develop new schemes, effective and adaptable risk management solutions are more critical than ever,” said John Gibbons, executive vice president and head of EMEA, Fiserv. “By leveraging a proven and effective financial crime risk management platform, FIMBank can gain a holistic view of customer risk and data to more accurately pinpoint and stop criminal activity.”
