Portuguese bank selects anti-money laundering platform to enhance
efficiency and meet regulatory requirements
BROOKFIELD, Wis. & LONDON--(BUSINESS WIRE)--Jan. 31, 2019--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced that Banco
CTT, one of Portugal’s newest and fastest-growing banks, has
selected Fiserv to enable efficient and effective anti-money laundering
(AML) capabilities. The scalability and functionality of Fiserv
technology will support the bank’s ongoing growth and facilitate a
better experience for customers, while managing money laundering risk.
Established in 2016 by the Portuguese Postal Service (CTT - Correios de
Portugal), Banco CTT has expanded rapidly, and currently has 212
branches and 390,000 customers.
“As a new, high growth bank we were looking for a reliable and robust
AML solution that will efficiently support the evolution of our
services, the growth of our clients and fully comply with the demanding
AML requirements,” said Miguel Oliveira, compliance officer, Banco CTT.
“We chose Fiserv because they met these requirements and could provide
our financial crime team with a single solution to monitor for
suspicious activity across a wide range of transactions. This allows us
to detect money laundering and mitigate risk more effectively.”
More effective and accurate AML monitoring also allows the bank to
minimize customer disruption due to investigation of legitimate
transactions, enabling a more seamless experience.
The AML Risk Manager solution from Fiserv selected by the bank leverages
powerful inference techniques, visualization tools and behavioral
profiling, which allows Banco CTT to track risks and monitor for
potentially suspect activities. It also provides advanced customer risk
profiling, transaction monitoring, and know your customer capabilities.
“The right anti-money laundering technology can do more than equip
financial institutions to meet regulatory requirements,” said Andrew
Davies vice president, global market strategy, Financial Crime Risk
Management, Fiserv. “For new or growing banks like Banco CTT, the right
technology provides an opportunity to establish operational efficiencies
and positions them to serve an expanding customer base. The commitment
of Banco CTT to its customers is evident in their selection of an
anti-money laundering solution that will facilitate effective risk
AML Risk Manager is the solution of choice for over 1,200 organizations
around the globe, built on the award-winning Financial Crime Risk
Management Platform from Fiserv. Because AML Risk Manager is built on
this shared platform, adding additional solutions for payment fraud,
check fraud or customer risk profiling is simplified.
In a world moving faster than ever before, Fiserv helps clients deliver
solutions in step with the way people live and work today – financial
services at the speed of life. Learn more at fiserv.com.
About Banco CTT
Banco CTT was created with the aim of
intensifying the existing proximity between CTT and the Portuguese
public. Capitalizing on a value proposition based on simplicity,
transparency and proximity, Banco CTT presented itself as focused on
what is actually needed to manage day-to-day life, betting in innovation
and competitiveness, with products and services that meet customer
needs. Learn more at bancoctt.pt.
Fiserv, Inc. (NASDAQ: FISV) enables clients
worldwide to create and deliver financial services experiences in step
with the way people live and work today. For 35 years, Fiserv has been a
trusted leader in financial services technology, helping clients achieve
best-in-class results by driving quality and innovation in payments,
processing services, risk and compliance, customer and channel
management, and insights and optimization. Fiserv is a member of the
FORTUNE® 500 and has been named among the FORTUNE Magazine
World's Most Admired Companies® for six consecutive years,
recognized for strength of business model, people management, social
responsibility and innovation leadership. Visit fiserv.com
on social media for more information and the latest company news.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190131005111/en/
Source: Fiserv, Inc.
Sr. Manager, Public
Director, Public Relations