âFinancial industry trends point to the benefits of sharing information across risk silos for improved efficiencies, business insight and competitive advantage. With Fiservâs new Enterprise Risk Service, our customers can seamlessly integrate alerts from disparate fraud and anti-money laundering silos to improve risk protection,â said Sebastian Kuntz, president of Fiserv Fraud and Compliance Solutions. âBy taking advantage of the new ERS, clients benefit from superior combined intelligence, and the potential to significantly reduce risk with this first-of-its kind offering for true enterprise level financial crime oversight, prevention and management.â
The ERS software hub enables the exchange and integration of risk scores and suspicious activity alerts across solutions from Fiservâs NetEconomy for compliance and fraud protection, Carreker fraud solutions, and Fiserv Imagesoftâs FraudGuard solutions for digital check imaging protection against forgery, counterfeits and alterations. ERS enables alerts and risk scores to be shared for collaborative and weighted scoring to more accurately detect suspicious activity and lower false positives, while leveraging and protecting investments in respective products that are currently used by the client. With ERS, each solution can be acquired in any combination as part of an integrated enterprise suite. In addition, third-party solutions can communicate via the ERS as a single point hub to enable an enterprise-wide and holistic customer view of risk.
âFinancial institutions are seeking ways to integrate their compliance and fraud operations in order to create an enterprise-wide view of risk, but siloed business units and systems are a significant barrier,â said Neil Katkov, PhD, senior vice president and managing director of the Asia Research group at Celent, a division of Oliver Wyman. âSolutions such as Fiserv NetEconomyâs ERS that address this issue have the potential to bring the goal of enterprise compliance closer and help generate efficiencies on both an organizational and systems level.â