"SUPERVISORS WANT FINANCIAL SERVICE PROVIDERS TO DO MORE TO PREVENT FINANCIAL CRIME AND TERRORISM FINANCING"
The Hague, 24 September 2019 - Visma Connect, the leading Dutch critical payments services provider and FICO have launched a partnership to jointly deliver FICO’s best-in-class Anti-Financial Crime solutions for Know Your Customer (KYC), anti-money laundering (AML) and real-time sanctions screening to banks, FinTechs, payment institutions, PSD2 third-party providers and corporations.
In the new partnership, Visma Connect will offer the FICO® Siron™ Anti-Financial Crime software to its customers as a SaaS solution and provide the IT and platform integration. FICO’s Anti-Financial Crime solutions will be offered as an integral part of Visma Connect’s Critical Payments SaaS portfolio.
Both companies will cooperate throughout Western Europe, with an initial focus on The Netherlands and the Nordics.
Coen Egberink, Managing Director Visma Connect &
Juergen Krieg, Head of Global Compliance Sales FICO
“Financial services providers face greater regulatory requirements and typically spend over 4% of their total revenue on compliance,” said Juergen Krieg, senior director for sales at FICO. “Regulators are urging financial services companies to increase their efforts to fight financial crime and terrorist financing, and FinTechs and new PSD2 third-party providers are increasingly required to continuously monitor their processes. In addition, with the advent of SEPA Instant Payments, the current batch-based sanctions screening no longer suffices and needs to be upgraded to 24/7 and real-time screening. Our partnership with Visma Connect is aimed at helping all kinds of payment providers meet these demands with less effort and expense, by using the innovations we are bringing to our compliance solutions.”
Marnix Harbers, Tribe Lead Payments at Visma Connect: “The industry is facing ever stronger regulatory demands. Our payment services and the FICO Anti Financial Crime services are always compliant, but don’t require large upfront investments. We’ll take care of integrating, running and maintaining the latest software technology and infrastructure. Our clients can focus on their business.”
FICO® Siron™ Anti-Financial Crime Solutions is the most widely used KYC, AML and Embargo software in the world, evidenced by more than 1,200 installations in over 90 countries.
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. FICO provides financial institutions around the world with market leading solutions to detect money laundering, prevent terrorist financing and conduct customer due diligence – incorporating dynamic customer profiling and visual link analysis for hidden relationships.
Learn more at http://www.fico.com.