LHV, Estonia's Leading Financial Group, Will Combat Money Laundering with FICO Compliance Solution

Wavy building
Radial circle

Customer Success

LONDON - February 28, 2018

Highlights:

  • LHV, the largest domestic financial group in Estonia, will use the FICO® TONBELLER® Siron® Anti Financial Crimes Suite to fight money laundering and comply with a host of European financial regulations.
  • Founded in 1999, LHV has 135,000 banking clients and more than 180,000 investment clients.

LHV, the largest domestic financial group in Estonia, will use the FICO® TONBELLER® Siron® Anti Financial Crimes Solutions to fight money laundering and comply with a host of European financial regulations. LHV will use the software’s customer risk scoring, screening, transaction monitoring and behavior monitoring capabilities to comply with the 4th and 5th EU Money Laundering Directives anti-money laundering (AML), know your customer (KYC) and other regulations aimed at stopping criminal finance.

More information: http://www.fico.com/en/risk-compliance/tonbeller

Founded in 1999, LHV has 135,000 banking clients and more than 180,000 investment clients. LHV’s expansion plans include opening an office in London this spring, as the bank has received approval from the UK’s Financial Conduct Authority.

“Our bank’s security and reputation are vital, and we need to make sure we operate according to changing global regulatory requirements,” said Martti Singi, chief risk officer of LHV. “After reviewing the top solutions in the market, we concluded that FICO’s solution was the most powerful, comprehensive and flexible. In addition, we were impressed with their roadmap for AML analytics using artificial intelligence and machine learning.”

“AML regulations are making it harder for criminals to launder money, and FICO is making it easier for banks like LHV to comply,” said Torsten Mayer, vice president for compliance solutions at FICO. “This is a priority for banks worldwide, and no firm has as complete a solution as FICO.”

FICO offers the TONBELLER® Siron®AML (transaction monitoring), Siron®KYC (know your customer), Siron®Embargo (transaction screening) Siron®RCC (risk and compliance cockpit), Siron®ACM (central alert and case management)  and other modules on-premise and on AWS, as part of its FICO® Analytic Cloud offerings. Earlier this year, the FICO® TONBELLER® Siron® AML and KYC solutions achieved Amazon Web Services (AWS) Financial Services Competency status.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 185 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at http://www.fico.com

FICO, TONBELLER and Siron are registered trademarks of Fair Isaac Corporation in the U.S. and other countries.

Media Contact:
Emily Broadbent for FICO
Catalysis
+44 (0)20 7759 2017
fico@catalysis.co.uk

Media contacts

Americas

Greg Jawski

Europe, Middle East & Africa

Darcy Sullivan

dsullivan@fico.com
+44 (0) 209-940-8719

Asia Pacific

Saxon Shirley

saxonshirley@fico.com
+65 6422-7795

Latin America

Marisa Arribas

marisaarribas@fico.com
+1 786 482 7231

América Latina

Milla Delfino

milladelfino@fico.com
+55 11 97673-6583

Take the next step

Connect with FICO for answers to all your product and solution questions. We look forward to hearing from you.