Predictive analytics software company Fico has acquired German financial crime and compliance solutions provider Tonbeller.
Fico is hoping to combine its advanced analytics with the financial crime and compliance expertise of Tonbeller to provide clients with a risk-based approach to financial crime, ranging from security and data risks to financial risks like credit and interest rates to corporate-level risks, including supplier-vendor relationships and reputational risk.
"Compliance with regulations concerning anti-money laundering, know-your-customer (KYC) and risk management imperatives has become a top priority for financial institutions as they struggle to anticipate and respond to known and emerging risks," says Will Lansing, CEO of FICO. "The time has come to leverage advanced analytic technologies to manage risk while controlling operating costs. With this acquisition, we aim to help chief risk and compliance officers move quickly and decisively toward their goal of a common, unified view of the entire risk spectrum."
The management team and employees of Tonbeller will continue to operate as previously to ensure continuity with clients and partners.
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails
- Chicago Code: A Profile of DRW's Seth Thomson
- AFTAs 2017: Best IT Team—Charles Schwab Investment Management
- Buy Side Bands Together on Blockchain Vision in Landmark Paper
- The Kids Aren’t Alright: A Look at How K-12 Schools Are Failing to Teach Programming
- AFTAs 2017: Best Analytics Initiative—Credit Suisse