Fiserv Inc., a provider of information technology services to the financial industry worldwide has acquired NetEconomy, a financial crime management and compliance applications provider to financial institutions across the globe with more than 130 implementations in 58 countries. Financial terms of the acquisition were not disclosed.
NetEconomy, founded in 1993, is headquartered in The Hague, The Netherlands, with offices in London, Paris, Boston, New York, Sydney, Shanghai, and Kuala Lumpur, Malaysia.
“We will now be able to provide banks, thrifts and credit unions a superior solution for both anti-money laundering and fraud management which will be integrated into all of our core account processing platforms – and at the same time, continue to serve large financial institutions who desire a superior risk management solution,” says Fiserv President and Chief Executive Officer Jeff Yabuki.
“NetEconomy is delighted to now be part of Fiserv,” comments Sebastian Kuntz, chief executive officer of NetEconomy. “This will advance our client reach, and accelerate the innovation and development of our fraud, risk and anti-money laundering solutions to better serve and grow our global customer base.”
“NetEconomy has leading-edge solutions for anti-money laundering, fraud and compliance, while Fiserv is a major provider of technology and outsourced services to the financial industry,” says Neil Katkov, industry analyst at Celent. “Fiserv will be now able to offer a solid financial crime offering along with its traditional hosted and stand-alone core processing systems – an attractive combination.”