Fiserv, Inc. (NASDAQ: FISV), a leading provider of information
technology services to the financial industry worldwide, today
announced it has acquired NetEconomy, a leading financial crime
management and compliance solutions 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. NetEconomy, owned by Esprit
Capital Partners since August 2005, provides highly effective and
easily deployable solutions for anti-money laundering, fraud
prevention and compliance.
"NetEconomy's proven products and strong management team will be
at the forefront of our efforts to deliver value in the important
growth area of enterprise risk management. 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," said Fiserv President and Chief
Executive Officer Jeff Yabuki. "This is a prime example of how our
Fiserv 2.0 strategies come together to benefit clients. We bring
high-quality technology products to our client base to help them
achieve best-in-class results."
"Fiserv is a trusted and world-class organization, providing
end-to-end software solutions, and processing data for accounts and
transactions across thousands of financial institutions. As a core
building block of Fiserv's enterprise risk, compliance and fraud
platform, we look forward to working together to help financial
institutions meet the business challenges of risk management and
compliance," said Sebastian Kuntz, chief executive officer of
NetEconomy. "NetEconomy is delighted to now be part of Fiserv. 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."
Neil Katkov, industry analyst at Celent said of the acquisition,
"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. 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."
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides
information management systems and services to the financial and
insurance industries. The company serves more than 17,000 clients
worldwide and is the leading provider of core processing solutions for
U.S. banks, credit unions and thrifts. For more information, visit
www.fiserv.com.
