Buckaroo selects Fiserv for its anti-money laundering (AML) solution

April 11, 2017  |  Credit Management, Payment

Buckaroo, a leading payment solutions provider based in the Netherlands, has selected AML Risk Manager from Fiserv. AML Risk Manager is an anti-money laundering (AML) solution providing advanced customer risk profiling, risk scoring, transaction monitoring and know your customer (KYC) capabilities. Buckaroo chose Fiserv to help meet its AML risk mitigation and detection requirements, enhance its customer experience, and support their future growth.

Buckaroo was founded in 2005 as a provider of payment solutions, specializing in billing and payments for companies and online payments for retailers. AML Risk Manager will provide Buckaroo with the ability to profile customer behavior and risk, along with case management and regulatory compliance capabilities.

Marijke Terpstra, chief risk officer, Buckaroo:
“We are taking a customer centric approach to AML risk management that will scale with our future growth and provide enhanced protection for our loyal customers. Fiserv helps us to meet regulatory guidelines, whilst also providing customers with a first class experience that suits their everyday payment needs. With AML Risk Manager, we will be prepared to meet required compliance regulations and effectively monitor for money laundering activities.”

By leveraging powerful inference techniques and visualization tools, AML Risk Manager offers behavioral profiling, the ability to quantify risk mitigation through investigation, and beneficial ownership insight. The solution is configurable, enabling the compliance team to be completely in control of the system.

Gasan Awad, vice president, Product Management, Financial & Risk Management Solutions, Fiserv:
“As criminals become more sophisticated and anti-money laundering regulations become more complex, AML professionals have increasingly difficult jobs. Fiserv helps make their jobs easier by transforming AML compliance processes with an innovative solution combining behavioral monitoring and analytics to speed detection of criminal activity without disturbing everyday operations and customers.”

 


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