FIS Teams with FICO on Advanced Anti-Money Laundering Solution For U.S. Financial Institutions
- FIS AML Compliance Manager integrates FICO® Falcon® X technology to help financial institutions keep ahead of financial crime.
- New solution will use machine learning and artificial intelligence to detect suspicious activity and provide detailed, transparent intelligence to bank investigators.
Money laundering is a growing problem around the world. In the
The new solution, FIS™ AML Compliance Manager, will integrate FICO® Falcon® X decision management technology to provide financial institutions with a unified platform for AML risk and compliance. The cloud-based solution will use machine learning and artificial intelligence (AI) to detect suspicious activity and provide bank investigators with detailed, transparent intelligence.
In addition to providing greater intelligence and transparency to financial institutions in meeting regulatory compliance requirements, the AI-based solution can help organizations reduce costs associated with false positives. False positives – system-generated alerts of potential illicit activity that are later cleared during reviews – cost the financial industry a significant amount of wasted investigation time each year.
“FIS is committed to helping our clients stay one step ahead of financial criminals who are using increasingly sophisticated tools to try to hide illicit money activities through the
“FICO is pleased to partner with FIS to offer best-in-class financial crime management technology to meet evolving needs of its clients,” said
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in
Senior Vice President