IMTF will assume responsibility for the Siron anti-financial crime business worldwide
Bozeman, MT and Givisiez/Fribourg, Switzerland– November 15, 2022
FICO (NYSE:FICO), a leading applied intelligence software company, has reached an agreement to transition its Siron® compliance business to IMTF. IMTF, a global leader in regulatory technology and process automation for financial institutions, and a strategic partner in the Siron business for more than 20 years, will assume responsibility for the entire Siron anti-financial crime business worldwide. FICO and IMTF are entering into an exclusive agreement for relevant software and intellectual property. This enables IMTF to further develop and extend the Siron Suite and to support the applications and related SaaS offering globally. The transaction includes FICO transitioning all Siron-related customer relationships and commitments to IMTF. IMTF is also buying Fair Isaac Germany GmbH.
Siron’s anti-financial crime solutions provide organizations with analytics-driven applications for end-to-end financial crime compliance. The Siron suite of products include AML (Anti Money Laundering), KYC (Know Your Customer), EMBARGO (sanctions) and TCR (Tax Compliance) with associated case management and reporting.
IMTF has in-depth knowledge of both the regulatory space and the Siron product solutions. This agreement will help expand Siron customers’ current investments in the Siron products with functionalities and new innovations. IMTF’s long-term roadmap is focused on increasing the precision and efficiency of all compliance solutions, along with greater flexibility and ease of adaptation to changing regulations.
“As a leader in regulatory technology, IMTF understands the complexities of financial compliance. We are proud of the work and innovation that the FICO team put into Siron to make it an industry-leading solution and the fact that this same team will be joining IMTF means that customers can rely on a seamless transition. We are confident that IMTF’s investment in the development and growth of Siron will best serve the needs of the customers and partners of the Siron business,” said Will Lansing, CEO of FICO.
Gion-Andri Büsser, CEO of IMTF adds, “The addition and combination of the Siron products with our existing complementary technology offers a unique opportunity to better serve our clients and move towards integrated solutions in the compliance and Regtech space. Through the transaction, we will not only be able to offer existing customers confidence, support and a long-term roadmap for their products but also increase customer value through complementary tools, leveraging the latest developments in AI and data science.”
In addition, Dr. Sebastian Hetzler, currently Vice President of Compliance Product Management at FICO, will move to IMTF in a Co-CEO role to further strengthen the business and extend the global leadership position of IMTF in the RegTech space.
IMTF is a global leader in AML compliance and process automation for financial institutions and has been a strategic partner of Siron for over 20 years. From its headquarters in Switzerland and offices in Europe, Middle East, India and APAC, IMTF serves clients around the world. With repeatedly ground-breaking solutions, IMTF is helping to fight financial crime and to enhance the customer journey while being compliant every step of the way.
IMTF’s offering includes document management solutions and key regulatory use cases to digitize back-office and compliance to improve financial institutions’ bottom line.
Learn more: https://imtf.com/
For IMTF news and media resources, visit https://imtf.com/en/insights
Source: FICO Press Release