Fraud Protection & Compliance
As we announced today, FICO is transitioning its Siron® compliance business to IMTF, a Swiss global leader in regulatory technology, and a partner in the Siron business for more than 20 years. The team behind Siron are moving from FICO to IMTF, which will run the entire Siron Anti Financial Crime business worldwide. This transition allows FICO to continue prioritizing our investments in FICO Platform, while ensuring Siron clients have the long-term support and focus they require and deserve.
FICO and IMTF are entering into an exclusive agreement for relevant software and intellectual property. This enables IMTF to further develop and extend the Siron Suite and to support the applications and related SaaS offering globally. The transaction includes FICO transitioning all Siron-related customer relationships and commitments to IMTF.
This is great news for Siron’s 1,200+ customers worldwide, and for efforts to stop financial crime in general. IMTF will further develop and extend the Siron Suite and support the application and the related SaaS offering globally. IMTF has in-depth knowledge of both the regulatory space and the Siron product solutions. FICO has worked with them extensively, and their commitment to quality, innovation and customer service makes them an ideal home for Siron and the Siron team.
Siron’s anti-financial crime solutions provide organizations with analytics-driven applications for end-to-end financial crime compliance. The suite includes SironAML (Anti Money Laundering), SironKYC (Know Your Customer), SironEMBARGO (Sanctions Screening) and SironTCR (Tax Compliance) with associated case management and reporting.
The Siron team has built a world-leading platform for fighting money laundering and financial crime:
- It serves more than 1,200 customers in more than 90 countries.
- It is recognized as the market leader for anti-money laundering, counter-terrorism financing and “Know your customer” technologies in Europe, Middle East, Africa and Asia.
- It provides end-to-end governance, risk & compliance solution including:
As Gion-Andri Büsser, CEO of IMTF noted: "The addition and combination of the Siron products with our existing complementary technology offers a unique opportunity to better serve our clients and move towards integrated solutions in the compliance and Regtech space. Through the transaction, we will not only be able to offer existing customers confidence, support and a long-term roadmap for their products but also increase customer value through complementary tools, leveraging the latest developments in AI and data science.”
Businesses using the Siron suite of products should expect regular maintenance, support and enhancements to the products, to keep pace with growing regulatory scrutiny worldwide on financial crime. Increased diligence is imperative, and as part of IMTF the Siron team will work to ensure customers have the most advanced technology possible to protect their business and meet changing regulations.