The Swedish SEB
A leading provider of information technology services to the financial industry, announced today that the Stockholm-based Skandiaviska Enskilda Banken (SEB), one of the leading banks of Europe, now the anti Fiserv Net Economy Money laundering (AML) compliance management solution use. The AML implementation in 17 countries in Europe and Asia while inexpensive in a period of 18 months and is for the tax provisions designed to reduce and reduces potential money laundering activities. The SEB is in some of the most difficult to control countries, including China, Ukraine and Russia. The SEB brings with Fiserv Net Economy AML Compliance Manager a powerful tool on the market, according to regular stores worldwide agreement banning.
“The SEB, the AML matters very seriously. We wanted to find a solution, based on the current strategies and methods oriented, but also to the various local regulations,” led Jan Bjorkman, AML Officer of the SEB. “The SEB has selected Fiserv, as they have a centralized and flexible solution, for a high degree of functionality and makes effective use of resources. SEB has a major competitive advantage if we are to Fiserv Net Economy AML compliance management solution for monitoring reports of transactions and implement. Fiserv’s detailed knowledge of AML, regulatory affairs and their competence in the discovery of fraud mean that we are at the forefront of the market and therefore can say is this technological partnership for our proven business like. ” “The financial institutions at the forefront fighting against money launderers and consider trust and its reputation as an important capital, which is worth, by the strictest security measures to be protected,” there Sebastian Kuntz, president of Fiserv in the Department of fraud and tracking solutions Minutes. “New regulations require that banks, customers and activities on a previously never exercised level monitor. Fiserv’s solution is for sophisticated analytical tools that can defuse potential weaknesses.”
The Fiserv Net Economy AML Compliance Manager software solution is a fully integrated anti-money laundering system, the existing IT infrastructure of SEB uses to his advantage. The central hub is located in Stockholm and the additional satellite installations in Russia. With the combination of transaction monitoring, case management and automatic reporting is the SEB in a position effectively to the highest degree of accuracy and operational efficiency to provide without additional staff resources to unduly burden. The SEB to reinforce its AML continued by an implementation of the Advanced module Peer Group (APG) for an advanced peer group analysis. The APG module creates profiles, the usual analysis of customer behavior similar to those out their activities at any time deviate significantly from the average and goes through the standard peer group functionality far beyond. The APG module provides an enhanced resolution and transparency for the monitoring of customer groups and risks; increased precision and predictability of warnings, and better forecasting force on money laundering activities, with a risk AML closer to the exercise and management go hand in hand.
About SEB
The banking group SEB is a North European financial group, the 400,000 business customers and institutions, and 5 million private customers. The SEB has local offices in the Nordic and Baltic countries, Germany, Poland, Ukraine and Russia. Approximately half of SEB customer uses the Internet for their banking transactions. The group is in about 20 countries worldwide and has 20,000 employees.
About Fiserv, Inc.
The Fiserv, Inc. (NASDAQ: FISV), is a member of the Fortune 500, and provides information management and e-commerce systems and services for the financial and insurance industry. Leading services include transaction processes, outsourcing, electronic bill payments and presentations Inventions management solutions, outsourcing of business processes (BPO), software and system solutions. The headquarters is located in Brookfield, Wis.. The company is the leading provider of software solutions Kernverarbeitungs for U.S. Banks, credit cooperatives and sparkassen. The Fiserv was regarded as the largest provider of information technology services for the financial services industry worldwide in the Fin Tech 100 surveys in 2004, 2005 and 2006 classified. In 2007 the company completed the acquisition of Check Free, a leading provider of e-commerce services. Fiserv included in the Annual Report with a total turnover of nearly U.S. $ 4 billion in current transactions in 2007.
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