Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybercrime

Fiserv Launches New Financial Crime Risk Management Platform

Fiserv, a provider of financial services technology solutions, on Monday announced the release of its next generation Financial Crime Risk Management (FCRM) Platform.

Fiserv, a provider of financial services technology solutions, on Monday announced the release of its next generation Financial Crime Risk Management (FCRM) Platform.

The new release enables financial crime professionals to model, detect, investigate and resolve risks across crimes, channels and product lines, the company said, and offers new event processing capabilities designed to address each financial institution’s requirements.

Fiserv Logo

Fiserv’s FCRM platform can learn the behavior of customers across their accounts, along with any entity relevant for judging the security and integrity of payments and other events. The platform can also incorporate alerts from other systems and drive risk-based authentication or due diligence, the company said.

“Detection systems are being consolidated to drive down cost or replaced to improve hit rates and reduce false positives. Payment execution is faster, criminals abuse the gaps between silos and regulators expect more advanced analytic techniques to combat crime,” said Tom Tobin, vice president and general manager, Financial Crime Risk Management, Fiserv. “Within this context, we believe that the FCRM Platform, with its market-leading behavioral monitoring capabilities, is one of the most powerful and strategic systems available on the market today. Our philosophy is to provide clients with best practices and expert consultants, and ultimately put them in control of continually evaluating and optimizing their own risk protection.”

In addition to direct installations, the new event processing capability will also be integrated through a series of incremental releases, starting with Signature and selected DNA clients and extending to other account processing platforms through 2015, Fiserv said.

Written By

Click to comment

Expert Insights

Related Content

Cybercrime

Zendesk is informing customers about a data breach that started with an SMS phishing campaign targeting the company’s employees.

Cybercrime

The release of OpenAI’s ChatGPT in late 2022 has demonstrated the potential of AI for both good and bad.

Cybercrime

Artificial intelligence is competing in another endeavor once limited to humans — creating propaganda and disinformation.

Cybercrime

Video games developer Riot Games says source code was stolen from its development environment in a ransomware attack

Cybercrime

A digital ad fraud scheme dubbed "VastFlux" spoofed over 1,700 apps and peaked at 12 billion ad requests per day before being shut down.

Cybercrime

A new study by McAfee and the Center for Strategic and International Studies (CSIS) named a staggering figure as the true annual cost of...

Cybercrime

Cybercriminals earned significantly less from ransomware attacks in 2022 compared to 2021 as victims are increasingly refusing to pay ransom demands.

Application Security

PayPal is alerting roughly 35,000 individuals that their accounts have been targeted in a credential stuffing campaign.