Fiserv Inc., a provider of financial services technology solutions, has released a new version of its Financial Crime Risk Management (FCRM) platform.
The new version of FCRM from Fiserv now supports automated generation, population and validation of suspicious activity reports (SAR) per the new e-filing specifications now mandated by the Financial Crimes Enforcement Network, all from its integrated end-to-end monitoring and investigation environment. This is particularly relevant for firms with U.S. operations and insurance products covered by AML regulations, Fiserv said.
Fiserv adds that the latest release introduces FATCA Manager, a monitoring and control solution that financial institutions can use to meet key requirements of the Foreign Account Tax Compliance Act (FATCA). The release offers a number of smaller enhancements around usability, deployment and security. In addition to insurance companies, the platform is also used around the world by hundreds of financial institutions.
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