Fiserv to boost financial crime risk management capabilities for Malta-based FIMBank

By Megha Bhattacharya

Malta-based FIMBank has selected Fiserv to boost its financial crime risk management capabilities. The partnership is expected to enable the Bank to manage risk, meet regulatory requirements while offering scalability to accelerate growth and flexibility.

According to the FIMBank Group, it sought an FCRM solution that implements a range of integrated Anti Money Laundering and internal fraud support. The Bank, therefore, deployed AML Risk Manager and Watch List Manager, built on the Financial Crime Risk Management platform from Fiserv, to effectively detect, investigate and resolve financial crime.

“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.”

Fiserv’s AML Risk Manager offers advanced KYC capabilities, customer risk profiling, risk scoring and transaction monitoring. The company’s Watch List Manager is a SWIFT screening module that provides screening of transactions in real-time. The solutions help to eliminate the inconvenience and delay caused when legitimate transactions are flagged for investigation, benefitting both customers and staff by facilitating a better experience and more efficient operations.

“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 FCRM platform, FIMBank can gain a holistic view of customer risk and data to more accurately pinpoint and stop criminal activity.”