IDC MarketScape Names FICO TONBELLER a Leader in AML, KYC

The reports note that the FICO TONBELLER Siron AML and KYC products are “mature, proven solutions with substantial out-of-the-box features including configurability, data connections, and analytics. FICO has done a great job incorporating TONBELLER into the family and infusing experience, size, and analytics capabilities into the Siron product line.”

“Our reports examine not just product quality and innovation but customers’ experience using the products to stop financial crime,” said Steven D’Alfonso, research director, IDC Financial Insights. “To reduce operating expenses and risk, financial institutions should consider KYC and AML solutions that apply advanced analytics to improve customer life-cycle management. We found that in both the quality of the solutions and the customer experience, FICO TONBELLER is a leader.”

About Siron AML, the report says: “Siron’s AML solution is a very rich, standard product, inclusive of AI and ML, that exceeds its peers and allows for a simplified upgrade experience along with compatibility and compliance. Customer references cited excellent customer experience from scoping and implementation to continuous support.”

Describing the Siron KYC solution, the IDC MarketScape report says, “The solution provides a risk-based customer segmentation and classification using multiple levels of customer data. High flexibility and always compliant are key characteristics of Siron KYC. A configurable risk classification model and standard connection to data providers for PEP, sanctions, adverse media, beneficial owners, and leaks (ICIJ) guarantee a secure approach at low total cost of ownership.”

The reports note that FICO TONBELLER should appeal to all sizes of financial institutions requiring AML or KYC solutions.

“We have been evolving our financial crime solutions for nearly 20 years, first as TONBELLER and now as part of FICO,” said Sebastian Hetzler, vice president for compliance solutions at FICO. “These reports validate our success and our ability to serve businesses of all sizes with a reliable compliance solution available in the cloud or on-premise.”

The FICO^® TONBELLER™ Siron^™ Anti-Financial Crime Solutions Suite includes a comprehensive modular portfolio with high functionality, thereby meeting customers‘ demands for protection against criminal abuse and non-compliance under one roof. The building-block design allows variable combination of the products. This enables FICO to offer tailor-made solutions against money-laundering, fraud, terrorist financing, and to fulfill custom requirements for Governance, Risk and Compliance in the best possible way.

In December, FICO announced that it has been named a category leader in enterprise fraud in the Financial Crime Risk Management Systems: Enterprise Fraud; Market Update 2018 report from research firm Chartis. Among other themes, the report considered the rise of technologies such as machine learning (ML) in fraud detection.