Analytics software firm FICO has sold off it Siron® compliance business to IMTF, a provider of AML compliance and process automation for financial institutions.
The transaction includes FICO transitioning all Siron-related customer relationships and commitments to IMTF.
Through this agreement, IMTF will assume responsibility for the entire Siron Anti Financial Crime business worldwide.
This enables IMTF to further develop and extend the Siron Suite and to support the application and the related SaaS offering globally.
Having been a strategic partner in the Siron business for more than 20 years, IMTF has in-depth knowledge of both its product solutions and the regulatory space.
Siron’s anti-financial crime suite of solutions include Siron AML (Anti Money Laundering), Siron KYC (Know Your Customer), Siron EMBARGO (sanctions) and SironTCR (Tax Compliance) with associated case management and reporting.
Additionally, Sebastian Hetzler, currently Vice President of Compliance Product Management at FICO, will move to IMTF as Co-CEO.
Will Lansing, CEO of FICO said,
“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,”
Gion-Andri Büsser, CEO of IMTF added,
“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 the customer value through complementary tools, leveraging latest developments in AI and Data Science”
Featured image credit: Edited from Unsplash
