Fiserv and First National Bank of Omaha Win 2015 IDC Financial Insights Real Results Award for AML and Fraud Detection

  • Fiserv takes top place in Governance, Risk, Compliance and Security category
  • First National Bank of Omaha uses the Financial Crime Risk Management Platform from Fiserv to get a holistic view of financial crime risk

Fiserv, Inc., along with client First National Bank of Omaha, the company has been named a winner of the inaugural IDC Financial Insights Real Results Awards, placing first in the Governance, Risk, Compliance and Security category.

This award recognizes technology providers that have enabled real, measurable, and future-enabling change and was given for work Fiserv completed with First National Bank of Omaha. Fiserv provides enterprise financial crime risk management solutions on a common platform, which enables the bank to share key capabilities across anti-money laundering (AML) monitoring and detection and real-time payments fraud detection and prevention for both ACH and wire transfer transactions.

“IDC Financial Insights inaugural Real Results program proved extremely successful, drawing case studies from around the world that demonstrate the effective and measurably beneficial use of technology in financial services,” said Karen Massey, Senior Analyst Banking for IDC Financial Insights. “We chose Fiserv as the winner of the Governance, Risk, Compliance and Security category as their technology has positively impacted enterprise financial crime risk management at First National Bank of Omaha. Congratulations to the Fiserv team.”

First National Bank of Omaha was seeking ways to reduce risk and provide greater protection to their customers by improving their risk management capabilities related to anti-money laundering. The bank was also focused on leveraging a common technology solution to detect and prevent payment fraud and enable a holistic view of financial crime risk across the institution. Another important goal was to empower their compliance team to be able to rapidly develop and deploy new behavioral monitoring scenarios to continue to keep pace with adapting criminal typologies and address evolving regulatory expectations.

First National Bank of Omaha achieved the anticipated outcome of increased risk mitigation for AML and payments fraud using Fiserv technology. The technology also enabled them to make gains in other areas of financial crime. For example, the bank is able to better protect their elder customers from financial crime by effectively detecting suspicious account withdrawals and other activity that may be being perpetrated by unauthorized caretakers, family members or other parties.

“This award recognizes our world class approach to minimizing financial crime risk across a client’s business,” said Tim Grace, senior vice president and general manager, Financial and Risk Management Solutions, Fiserv. “Consumers demand peace of mind from their financial services providers which is enabled by security technology that keeps pace with the way we live and work today. The additional protections First National Bank of Omaha provides its customers, utilizing our solutions, are a catalyst for continued trusted relationships.”

Effective governance and risk mitigation is a cornerstone of First National of Omaha. This initiative further supports that approach and reinforces the leading position that the bank has in their chosen markets as it relates to security and integrity.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life.