October 27, 2020 | Written by: John Kelly
Categorized: AI | Banking | Cloud | FinTech | IBM RegTech Innovations
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Based on its research and market analysis, IDC Financial Insights announced its annual FinTech Rankings 2020, recently, in two categories – The IDC FinTech Rankings Top 100 and Top 25 Enterprise.
We’re proud to share that IBM is identified #1 FinTech in the Top 25 Enterprise category for the fourth consecutive year in the annual IDC FinTech Rankings 2020. The Enterprise category includes enterprise/horizontal technology firms that provide products and services across multiple industries and have significant reported revenue in the financial services industry.
FIS, which has been IBM’s strategic partner for a while now also secures the top spot for a fourth consecutive year in the Top 100 IDC FinTech Rankings category. To learn more about the IBM and FIS strategic partnership, read the FIS press release – FIS Integrates IBM Fraud Detection Solution to Help Clients Tackle Person-to-Person Payments Fraud in the U.S.
IBM caters to multiple FinTech use cases including helping financial institutions improve efficiency and effectiveness of customer onboarding, due diligence review, sanctions screening and fraud management. To learn more on the use cases, you can visit our IBM Financial Crimes Insight solution page.
IBM Financial Crimes Insight provides a holistic, risk-based and cost-effective approach to financial crimes compliance and fraud with AI-infused solutions that are supported on IBM Cloud Pak for Data and Red Hat while helping financial institutions improve customer experience, cut false positives and prioritize high risk alerts.
IBM’s strategic partnership with Fenergo for Customer Lifecycle Management solution is another recent milestone achieved. The new partnership helps organizations to digitize the end-to-end customer lifecycle management, from onboarding to KYC and AML compliance and reviews. In a recently published analyst market note, IDC says, “The IBM and Fenergo strategic partnership creates a potential CLM/KYC powerhouse product.” In the study, IDC goes on to say, “IBM and Fenergo announced a strategic partnership to offer an AI-enabled end-to-end client-life cycle management (CLM) solution for the financial services industry. From IDC’s perspective, this is a smart collaboration between the two companies.” To learn more, read the press release on IBM/Fenergo partnership – IBM and Fenergo join forces to fight financial crime, watch IBM/Fenergo’s on-demand webinar Powering Digital Compliant Client Lifecycle Journeys with Artificial Intelligence, and read the blog Top 5 takeaways from the digital compliant client lifecycle journeys webinar.
IBM’s newest partnership with Luxoft, a DXC Technology Company, to offer Luxoft Financial Crimes Intelligence with IBM Technology solution is yet another significant achievement that offers an end-to-end software-as-a-service solution for insurance fraud detection and investigation and is designed to enable insurance clients to develop new and advanced machine learning and AI fraud management models.
Access the annual IDC FinTech Rankings 2020 report here. Should you have any questions or want to schedule a free demo /consultation, please contact us here.
Learn more at ibm.biz/FinCrimes