THE HAGUE, The Netherlands - December 21st, 2007 – NetEconomy, the global leader in financial crime management and compliance solutions, and a business unit of Fiserv, Inc. (NASDAQ:FISV), today announced that it has signed a strategic OEM agreement with FircoSoft, the leading provider of watchlist filtering solutions. NetEconomy plans to embed FircoSoft’s OFAC-Agent Suite solution within its Compliance Manager anti-money laundering solution to deliver an integrated, comprehensive and high-performance offering to global financial institutions.
The integration of FircoSoft’s watchlist filter will offer additional powerful functionalities to enhance NetEconomy’s award-winning Financial Crime Suite. The seamless integration will allow fast delivery to financial institutions of a complete best-in-class solution to address each part of a compliance risk management program. “NetEconomy’s award-winning transaction monitoring and case management environment combined with Fircosoft’s world-class watchlist filtering solution provides an exceptional high-performance platform for global financial institutions to mitigate risk in order to meet regulatory requirements and effectively fight financial crime,” said Jean Losco, Executive Director, FircoSoft. “With several implementations already underway it is an excellent start to what we believe will be very rewarding partnership.”
“NetEconomy chose FircoSoft because of its proven experience delivering superior market leading solutions to a substantial customer base,” said Peter Kwakernaak, Chief Commercial Officer, of NetEconomy. “We are very pleased with this agreement and also the added value, flexibility and protection our synergy will provide for our customers and global financial institutions.”
FircoSoft’s OFAC-Agent Suite filters any payment messages, including SWIFT, and customer information against any combination of sanctions/PEPs & FEPs (Politically Exposed Persons & Financial Exposed Persons) lists. When a match is found, an alert will be generated and routed within NetEconomy system. In addition to watchlist filtering with FircoSoft, NetEconomy’s robust system uses multiple detection scenarios, behavioural profiling and rules to monitor all financial transactions such as cash deposits and wire transfers, and alerts its users to the appearance of suspicious activity. Once suspicious activity has been identified, a step-by-step workflow with built-in case management drives users through investigation, case tracking and reporting within one fully integrated environment.
About NetEconomy
NetEconomy, based in The Hague, with offices in London, Paris, Boston, New York, Sydney, Shanghai and Kuala Lumpur, Malaysia, and distributors and strategic partners across South Africa, Australia, Europe, Southeast Asia and the United States, is the leading provider of financial crime management and compliance solutions. With more than 140 implementations across 60 countries, NetEconomy brings business value to its worldwide client base through its personalized customer approach for minimizing regulatory risk, delivering measurable results and protecting corporate brand and reputation. For more information, please visit www.neteconomy.com. For more information on NetPractice, visit www.netpractice.org.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.4 billion in total revenue for 2006. For more information, please visit www.fiserv.com.
About Sword FircoSoft
Over 335 financial institutions in more than 55 countries (representing over 650 sites) are already benefiting from the #1 watch list filtering solution* provided by Sword FircoSoft.
Sword FircoSoft, provider of multi-alphabet ready filtering solutions, also offers best-in-class straight through processing and business intelligence solutions.
* ranking by Celent since 2003