• Fiserv selected best-in-class in TowerGroup vendor ranking in 3 of 4 categories: Ongoing Monitoring, Compliance Operations and Enterprise Support
• Ability to continuously monitor, track and report on customer risk profiles noted as key strengths of the Financial Crime Risk Management Platform
• Case management and investigation tools are also rated highly in the report.

BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that its Financial Crime Risk Management (FCRM) Platform is ranked ‘best-in-class' in 3 of 4 categories evaluated by CEB TowerGroup in its 2013 Know Your Customer (KYC) Technology Analysis. The solution was judged as a best-in-class provider in the Ongoing Monitoring, Compliance Operations and Enterprise Support categories.

KYC systems enable financial institutions to comply with due diligence requirements by verifying customers' identities and identifying potentially high risk customers so they can be evaluated as required by Enhanced Due Diligence regulations. The best KYC systems leverage analytical capabilities to better understand, segment and predict the concentrations of risk within an institution's customer base.

"KYC is an increasingly important and complex area of compliance as banks are looking to screen potential customers - and onboard them - as quickly as possible," said CEB Tower Group research director Andy Schmidt. "Because this is an ongoing need, the ability to monitor customer behavior over time, view customer and portfolio activity via a user-friendly risk dashboard, and streamline and aggregate case management activities becomes vitally important."

"With more than a thousand clients relying on our solutions every day, these industry rankings are recognition of our ongoing investment to provide unique and innovative financial crime prevention solutions to the marketplace," said Tom Tobin, vice president and general manager, Financial Crime Risk Management, Fiserv. "By automating risk scoring throughout the customer lifecycle and supporting the enhanced due diligence process for high-risk customers, our solution enables organizations to comply with the complex and ever-evolving KYC and Customer Due Diligence regulations."

Fiserv offers a common Financial Crime Risk Management Platform with integrated solutions for AML, fraud (e.g. payments, internal, claims), sanctions, FATCA, market conduct and more.

The platform helps over 1,000 financial institutions around the world protect themselves against the various types of risk arising from financial crime. It does so by monitoring an institution's customer relationships and behavior across products, channels and locations to facilitate detection, investigation and resolution of high-risk anomalies on a single, efficient and scalable platform.

The CEB TowerGroup ranking was based on composite scores of nine KYC solution providers, each of whom were assessed on 21 attributes. These attributes were grouped into four technology categories that highlighted a firm's user, operational, and enterprise support needs.

Additional Resources:

• Financial Crime Risk Management from Fiserv - http://www.financialcrimerisk.fiserv.com

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

FISV-G

Media Relations:
Julie Nixon
Senior Public Relations Manager
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
or
Additional Contact:
Wade Coleman
Director, Public Relations
Fiserv, Inc.
678-375-1210
wade.coleman@fiserv.com

Source: Fiserv, Inc.

News Provided by Acquire Media