Fico Acquires Financial Crime Firm Tonbeller
Deal moves Fico firmly into growing financial crime and compliance space.
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.
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