Fiserv has announced that it will simplify and speed the use of new fraud detection models for clients using its Financial Crime Risk Management Platform by integrating the ADAPA solution from Zementis.
Fiserv will include ADAPA, which facilitates the rapid deployment, integration and execution of analytic models, with implementations of AML Risk Manager, Check Fraud Manager, Payment Fraud Manager and Customer Risk Manager.
This will enable users of these solutions to more easily and rapidly deploy new fraud detection models within these solutions to better predict, identify and fight financial crime.
From transaction codes to geographic locations to device information, predictive analytics play a critical role in the detection and prevention of financial crime by empowering companies to identify factors associated with fraud and compliance.
Historically, deployment of analytic models could prove time consuming and labor intensive.
Now, with easy integration from Zementis, analytic models from Fiserv and models built by the client can be deployed within one of the solutions identified above by clients in a radically accelerated manner, helping reduce overall costs and improve operational efficiency.
Fiserv financial & risk management solutions senior vice president and general manager said:"Our partnership with Zementis demonstrates our ongoing commitment to help our clients remain well equipped to battle rapidly evolving fraud.
"Fiserv clients can now deploy, audit, integrate and execute predictive models with greater ease at a lower cost. This helps them combat financial crime and protect their businesses more effectively."
Zementis CEO Dr. Michael Zeller said: "ADAPA and the PMML standard deliver true interoperability, enabling predictive models to be used across platforms.
"Fiserv clients around the world will benefit from being able to easily and quickly transform predictive analytic models into dynamic business assets to help combat financial crimes."
Fiserv delivers unique capabilities for financial crime prevention that help organizations to more effectively detect, investigate, prevent and resolve the most significant financial crimes affecting companies around the globe, as well as helping to maintain compliance and improve profitability.