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New real-time solutions to combat ACH, wire and other electronic
payment fraud available on the Financial Crime Risk Management Platform
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Solutions take an integrated, cross-channel view of customers,
including their behavior and risk
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Behavioral analysis complements enhanced real-time sanctions screening
capabilities for all SWIFT MT formats and other financial messages
BROOKFIELD, Wis.--(BUSINESS WIRE)--
NACHA PAYMENTS 2014, Booth 412 - Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today new real-time electronic payments
monitoring capabilities to prevent fraud. The solutions protect clients
from the ever increasing threat of payments fraud, covering both
international and domestic payments for Automated Clearinghouse (ACH)
and wire (Fed and SWIFT), and complement the enhanced SWIFT Sanctions
Screening capabilities now available on the Financial
Crime Risk Management Platform (FCRM) from Fiserv.
"These new electronic payment fraud prevention solutions provide an
end-to-end method to effectively model, detect, intercept, investigate
and resolve attempts to steal funds from customer accounts through
electronic payments such as ACH, SEPA and wire," said Tom Tobin, vice
president and general manager, Financial Crime Risk Management, Fiserv.
"Fiserv solutions leverage a common platform to protect against multiple
kinds of financial crime risks across channels. This platform
approach allows our clients to mitigate current financial crime concerns
and tackle new ones as they are identified."
ACH
Fraud Prevention from Fiserv takes an integrated, cross-channel view
of customers and their behavior. Detection and interdiction scenarios
evaluate ACH files, batches and transactions, looking for unusual
patterns of behavior and other variables that indicate fraud risk. The
system continuously builds intelligence for each customer, account and
other entities relevant to the ACH process to support accurate detection
on anomalies. Non-transactional data including session data can also be
incorporated into real-time strategies based on the level of risk
presented by account activity or a specific transaction. The detection
capabilities can be seamlessly integrated with an organization's
compliance activities such as collecting notes and evidence, tracking
financials and preparing regulatory reporting.
Wire
Fraud Prevention from Fiserv is a sophisticated, scalable,
cost-efficient solution to prevent wire fraud losses with minimal impact
to organizations relying on these critical payments. Real-time detection
scenarios evaluate wire transfers and interdict suspected fraud, looking
for anomalies and other characteristics that indicate fraud risk. The
system continuously updates normal behavior profiles for each customer,
account and other entities relevant to the wire such as the user,
originator, account, device, intermediary or beneficiary. Confirmed
fraud cases can be escalated to the case management system and include
detailed forensic information such as historic payments and device
fingerprint information.
SWIFT Sanctions Screening has also been enhanced to leverage proven
Fiserv SWIFT connectivity. Built on the Fiserv watch list filtering
engine and integrated with its anti-money laundering and fraud
monitoring solution, the solution now supports all MT formats including
unstructured text screening and guided match review for 700-and
900-series messages, as well as targeted screening for specific entity
types (such as vessels) to further reduce false positives.
Fiserv is trusted to securely process billions of payments every year
and to protect the security and integrity of customer accounts, access
channels and financial transactions. Fiserv global systems and services
for account processing, payments processing and digital banking are used
to manage and access more than 55 million consumer accounts and process
transactions totaling over $1 trillion per year. As part of this
ecosystem, the FCRM Platform is a logical choice for supporting
regulatory compliance and fraud prevention.
Additional Resources:
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.
+1 678-375-3744
julie.nixon@fiserv.com
or
Additional
Contact:
Wade Coleman
Director, Public Relations
Fiserv,
Inc.
+1 678-375-1210
wade.coleman@fiserv.com
Source: Fiserv, Inc.
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