Fiserv gets top ranking for anti-money laundering system sales; Metavante profit up 15 percent in first quarter; WWBIC opens Racine office
Fiserv gets top ranking for anti-money laundering system sales
Brookfield-based Fiserv Inc. announced that it was ranked as the top-selling provider of global anti-money laundering (AML) solutions by IBS Publishing.
IBS determined the ranking by analyzing the AML market for the number of new name wins achieved in 2008. Fiserv topped the chart with 117 new name wins.
“Nearly half of the new name AML wins in 2008 were achieved by Fiserv,” said James Ling, senior reporter at IBS Publishing. “Thanks to cross-selling into its U.S. core banking customers, Fiserv was able to more than triple its new name sales over last year.”
The industry’s top-selling solution in 2007 and 2008, AML Compliance Manager from Fiserv combines transaction monitoring, list checking, risk scoring, case management and automated reporting.
“AML Compliance Manager is the most feature rich and flexible solution in the market and enables our global client base to protect corporate brand and reputation,” said John Filby, president, risk management solutions, Fiserv. “We are pleased to be recognized by IBS as it reinforces our leadership in the global anti-money laundering market.”
Metavante profit up 15 percent in first quarter
Brown Deer-based Metavante Technologies Inc., which is in the process of being acquired by Jacksonville, Fla.-based Fidelity National Information Services Inc., recently announced first quarter net income of $40.3 million, or 34 cents per share, up 15 percent from first quarter of 2008 net income of $35 million, or 29 cents per share.
The company’s revenue for the first quarter was $426.9 million, up 1 percent compared to $424.6 million in the first quarter of 2008.
Metavante said its growth was driven by higher processing activity which "more than offset" lower termination fees and software license revenue.
“The results for the first quarter continued the uninterrupted pattern since our launch as a separately traded public company of growth in revenue and profitability," said Frank R. Martire, chairman and chief executive officer. "Our ability to improve profitability on modest organic revenue growth despite the difficult environment that our clients are facing again demonstrated both the strength of our business model and our ability to execute.”
WWBIC opens Racine office
The Wisconsin Women’s Business Initiative Corp. (WWBIC) is opening a new office in Racine in the HOPES Center at 507 6th St. WWBIC will host an open house from 8 to 11 a.m. on Wednesday, May 6.
WWBIC’s Milwaukee headquarters and Kenosha offices will remain in their current locations. For more information about the Racine facility, call the new office at (262) 654-1234, or visit www.wwbic.org.