Fiserv’s AML solution wins new clients in UAE and Iceland
Dubai-based Mercury Payment Services and Iceland’s Arion Bank have chosen Fiserv’s anti-money laundering (AML) technology, reports Jane Connolly.
“Allow us to improve our fraud detection rate while maximising our team’s time”
Both organisations will implement Fiserv’s AML Risk Manager, to address all four key areas of an AML risk management programme: Know-Your_Customer (KYC) requirements; monitoring, detection and alerts; case management; and reporting.
“We needed a proven AML platform that would allow us to improve our fraud detection rate while maximising our team’s time,” says Nolan Williams, head of financial crime at Arion Bank.
“The robust functionality of the Fiserv solution was a draw for us because it meant that we could cut back on manual processes and focus our attention in the areas where we can have the most impact.”
Mercury Payment Services was looking for a solution that could handle large transaction volumes and was compliant with UAE CentralBbank guidelines, while keeping down overall costs.
Fiserv will help to reduce the need for in-house support by managing the solution end-to-end, including the administration of watch lists and sanctions screening.
