NetEconomy, the global leader in financial crime management and compliance solutions, and a business unit of Fiserv, Inc. (NASDAQ:FISV), announced that Banque AGF France has selected its Compliance Manager anti-money laundering (AML) solution to improve and streamline suspicious activity detection, analysis and regulatory reporting.
Based in Paris, Banque AGF is a retail bank and member of the Allianz Group, one of the leading global services providers in insurance, banking and asset management serving more than 70 million customers in 70 countries. NetEconomy’s Compliance Manager solution will monitor and profile all of Banque AGF’s customers and transactions to detect unusual activity, and provide analysis tools and an integrated case management system for storing suspicious activity evidence and generating required regulatory reports.
“Banque AGF was looking for a user friendly and easily deployable automated anti-money laundering system that could meet our immediate AML needs today, but also provide the flexibility and capability to extend to other product lines and financial crime areas in the future,” said Martine Protat, Compliance Manager, of Banque AGF. “After a thorough evaluation process, NetEconomy was selected because it represented the most effective solution to meet these requirements. By being able to leverage the NetEconomy AML system for our insurance business, AGF will better be able to protect our customers and mitigate financial crime across our financial institution.”
“We are extremely pleased to add Banque AGF to our growing roster of banks within France,” said Peter Kwakernaak, Chief Commercial Officer of NetEconomy. “By selecting NetEconomy, Banque AGF will benefit from reduced total cost of ownership (TCO). Our modular holistic solution can span new geographies, product lines and crime areas for streamlined delivery, reduced compliance costs and enterprise-wide financial crime risk reduction, not only for banking, but also for insurance operations.”
About Banque AGF
Banque AGF is a services bank for individuals, with non-proprietary networks and with a multi-channel infrastructure. Its comprehensive offering includes: daily banking services, savings products, and a large range of loan products. The offering is distributed exclusively by the Group's networks, primarily the network of salaried advisors and tied agents and is accessible via remote banking tools (telephony and internet). The bank aims to become the benchmark for AGF customers, thanks to its dynamic nature, its attractive products and its profitability. Banque AGF is a wholly-owned subsidiary of Assurances Générales de France (AGF), a French general insurance company offering life and health insurance, property and causality, as well as banking and financial services, and asset management.
About NetEconomy
NetEconomy, based in The Hague, with offices in London, Paris, Boston, New York, Sydney, Shanghai and Kuala Lumpur, Malaysia, and distributors and strategic partners across South Africa, Australia, Europe, Southeast Asia and the United States, is the leading provider of financial crime management and compliance solutions. With more than 140 implementations across 58 countries, NetEconomy brings business value to its worldwide client base through its personalized customer approach for minimizing regulatory risk, delivering measurable results and protecting corporate brand and reputation. For more information, please visit www.neteconomy.com. For more information on NetPractice, visit www.netpractice.org.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.4 billion in total revenue for 2006. For more information, please visit www.fiserv.com.
For more information contact:
Alison Holland
Director, Worldwide Marketing
NetEconomy
+1 508-893-6066
aholland@neteconomy.com