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Back to all Fiserv announcements

Belgian National Postal Operator Selects Fiserv for Comprehensive AML Detection of Money Transfers

• bpost implements AML Manager from Fiserv to monitor for suspicious payment transactions

• AML Manager drives down operational risk by combining behavioral profiling and rules management

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that bpost, the Belgian national postal operator has successfully implemented AML Manager for its international and domestic money transfers. By using AML Manager from Fiserv, bpost will benefit from automated transaction monitoring and intelligent detection tools to help them with the investigation and reporting of suspicious money-laundering activity.

"By improving hit rates, reducing false positives and minimizing investigation cycles, the solution will enable our staff to focus on addressing more high risk activities," said Rony Monnaie, director of Compliance, Integrity and Risk Management, bpost. "The project has been delivered on-time and on-budget and the success of this implementation, coupled with the strength of the Fiserv team, has laid the groundwork for future collaborations."

Fiserv was selected after an in-depth European competitive tender and a successful three month proof of concept. The implementation was completed in under a year and is currently used by bpost's compliance and operations team in Belgium.

"Growing regulation, increasing fines and the potential for reputational risk, means that financial institutions and corporations must be rigorous in putting stringent tools in place to monitor for suspicious transactions," said Mike Urban, product portfolio manager, Risk and Compliance, Fiserv. "To keep ahead of the most advanced criminals, organizations need to look for intelligent monitoring solutions that not only look at thresholds, but also adapt over time for better decision making based on historical activity, trends and behavioral patterns."

AML Manager from Fiserv is part of the company's Financial Crime Risk Management platform which in 2011 was ranked as "Best-in-Class" in Aite Group's "Global Anti-Money Laundering Vendor Evaluation." As a core competency of the company, Fiserv offers a unique breadth of Risk and Compliance solutions to help clients optimize usage and return on capital by making risk transparent and actionable within their organization. Solution areas include financial crime risk management, financial risk management, financial performance management and financial control solutions.