Fraud and Financial Crimes Convergence
Protect your customer experience and future-proof your defenses with integrated fraud and financial crimes technology.
Overview
Protect customers from fraud and financial crime
Improve the accuracy of fraud and money laundering detection and meet KYC and sanctions screening requirements, all while reducing the costs of financial crime management by choosing the proper technology. With FICO, you can lower fraud losses and improve the customer experience, while staying on the right side of the regulators.
Most institutions have active ambitions to either integrate or collaborate between AML and financial fraud functions. This is something that we’re seeing across regions that is driven by a focus not just on getting cost synergies but about improving detection and scalability of these functions.
Features
Improve operational efficiency
Remove siloes between fraud and KYC/AML functions, reduce overlapping IT functionality and easily deploy all relevant data to both workflows.
Increase detection accuracy
Inform decisions with contextually relevant data, deploy machine learning with ease to respond rapidly to threats, and extend the use of AI to AML strategies.
Streamline and automate case management
Automate investigations and customer interactions, prioritize cases appropriately, and provide an easy to understand robust audit trail.
The State of Fraud and Financial Crimes Convergence
Nearly half of banks worldwide are aiming to achieve convergence in less than three years.
Global Outlook
For more information, download research firm Omdia’s white paper that includes results from a recent survey of retail banks on their priorities, challenges, and plans for financial crime, assessing the maturity of the sector in tackling financial crime and ambitions towards integration.
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Related resources
Gain fresh ideas and new strategies for making better business decisions with in-depth thought leadership, solution insights, and customer success stories.
Webinar
Fraud and Financial Crime Convergence
Executive Brief
Integrated fraud management and AML compliance
Solution Sheet
FICO® Anti Money Laundering
Solution Sheet
Know your customer—anytime, anywhere
From the FICO Blog
Protect the Customer Experience while Improving Financial Crime Detection
Deliver more accurate and efficient operations using advanced AI techniques, unified case management across fraud and AML, and configurable workflows that adapt to keep pace with changing payment innovations. Join thousands of institutions that rely on FICO to help detect fraud and financial crimes.