Banco Espírito Santo (BES) has implemented Fraud Risk Manager from Fiserv to monitor, detect, prioritise and case-manage multi-channel fraud, including internal fraud and unethical employee behaviour.
Replacing a legacy in-house solution, BES chose Fiserv because it is already using its anti-money laundering solution, AML Manager, to detect suspected money laundering activities. Using the same transaction database, this financial crime risk management platform will now generate money laundering and fraudulent behavior alerts using sophisticated scenarios that improve risk protection for the customer which can lead to improved trust in the bank.
By having both solutions on a single platform, BES will also be able to take advantage of shared functionality and increased efficiencies through use of common resources and reduced maintenance and hardware costs.
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