Nedbank created its Risk Intelligence Center in partnership with FICO to combat financial crime

Nedbank, one of the top tier-1 banks in South Africa, prioritizes client money safety while leveraging technology to combat financial crime more efficiently. The bank has partnered with FICO and implemented the Risk Intelligence Center, a solution for enterprise-wide consolidating and addressing risk information. 

As Riana Horn of Nedbank explains in this video, “It is one of our important missions to keep our clients’ money safe.” Nedbank wanted to bridge the silos that can thwart efforts to stop financial crime. The bank created an integrated financial crime risk management framework using multiple pieces of FICO technology. The bank’s Risk Intelligence Centre consolidates relationships between entities and various financial crime risk factors into one comprehensive view. 

The Risk Intelligence Center is an enterprise-wide system that consolidates data from multiple systems and decisions from different committees, streamlining processes such as offboarding relationships or closing accounts due to financial crime, and making this critical information available across the enterprise. It is powered by FICO technology that harmonizes all known risk information to make informed decisions. As Riana says, “At Nedbank, we believe we don’t just make the difference, we are the difference.”