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FICO Acquires TONBELLER

Compliance 1  iStock_000033418316SmallFICO has acquired TONBELLER, an innovative provider of financial crime and compliance solutions based in Bensheim, Germany.  The transaction has closed.  Although terms have not been disclosed, the transaction is not expected to have a material impact on FICO’s 2015 financial results.  With this acquisition, FICO has moved firmly into the rapidly growing market for financial crime and compliance (FCC) solutions, promising to bring the benefits of advanced analytics and a risk-based approach to a field dominated by older, relatively inflexible, rule-based systems.“

Compliance with regulations concerning anti-money laundering, know-your-customer (KYC) and risk management imperatives has become a top priority for financial institutions as they struggle to anticipate and respond to known and emerging risks,” said Will Lansing, CEO, FICO. “The time has come to leverage advanced analytic technologies to manage risk while controlling operating costs. With this acquisition, we aim to help chief risk and compliance officers move quickly and decisively toward their goal of a common, unified view of the entire risk spectrum.”

Growing demand for financial crime and compliance solutions is being fueled by unprecedented challenges facing chief risk and compliance officers. These range from security and data risks to financial risks like credit and interest rates to corporate-level risks, including supplier/vendor relationships and reputation risk. Particularly troublesome can be the risks associated with financial crime and compliance, including various types of fraud and money laundering.“

FICO’s new extended solution, available on premise or in the cloud, will enable companies large and small, across industries and geographies, to realize the competitive advantages of a comprehensive, risk-based FCC solution.” The management team and employees of TONBELLER will continue as part of FICO, contributing important domain expertise and ensuring continuity for clients and partners.

About:  TONBELLER AG is a leading global provider of integrated IT solutions for governance, risk & compliance. TONBELLER develops and implements standardized and custom solutions based on the Siron® product family to protect against financial and white-collar crime as well as for risk management and monitoring, analysis, and reporting. The combination of innovative software technology, excellent consultancy and first-class customer support creates high-performance GRC applications that prove their effectiveness for more than 1,000 customers in the most stringently regulated industries. Through its global partner network, TONBELLER solutions and expertise are available in more than 90 countries.

Source: FICO Press Release

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