14 Mar Fiserv acquires crime management software firm
Brookfield, Wis. – In a move to strengthen its ability to fight fraud and money laundering, the Brookfield-based Fiserv has acquired NetEconomy, a financial crime management and compliance solutions provider headquartered in The Hague, The Netherlands.
Financial terms of the acquisition were not disclosed.
NetEconomy, founded in 1993, has developed applications for anti-money laundering, fraud prevention, and compliance. Those applications will be integrated into Fiserv’s core account processing platforms.
Fiserv is a Fortune 500 provider of information technology services to the global financial industry. In NetEconomy, it has acquired a company that has completed more than 130 implementations in 58 countries.
Jeff Yabuki, president and CEO of Fiserv, said NetEconomy’s products will be at the forefront of Fiserv’s efforts to deliver value in the growth area of enterprise risk management for large financial institutions.
Neil Katkov, industry analyst at Celent, said Fiserv now will be able to combine its core processing systems with a “solid financial crime offering.”
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