Momentum with Memento
By Douglas Wood, Infoglide Senior VP
We noted with interest the April 23 announcement that FIS, the largest banking and payments technology provider on the planet, has made very strategic acquisitions of Memento Security and ICS Risk Advisors. With over 30,000 worldwide employees and annual revenues approaching $6B, FIS holds the leadership position in payment processing, core banking solutions and risk-management services in multiple markets and geographies.
Infoglide Software Corporation is a proud, close-knit strategic OEM partner to Memento, the Massachusetts-based leader in enterprise fraud management. The relationship between Infoglide and FIS/Memento allows the latter to expand its global product offerings to include Infoglide’s patented and industry-leading federated search/match/link analysis technology, Identity Resolution Engine™. The IRE link analysis software – the same technology used by TSA to screen terrorists – allows financial institutions to easily expose high-risk entity matches and social links across disparate internal and public data sources.
We note, too, that the 2010 IDC Financial Insights report listed Memento as a “Category Leader”, the highest level award in the study. The report examines financial crimes management solutions that anticipate, detect, analyze and prevent fraudulent transactions, money laundering and employee financial misconduct. Memento’s key differentiators are its search engine approach to data management, its portfolio approach to analytics, and its managed service delivery model.
With that in mind, it seems clear that the true industry giant FIS intends to deliver on its promise of growth by both organic and strategic acquisition means. We believe the Memento technology adds tremendous value to their portfolio, and we congratulate them on their decision to acquire both Memento and ICS Risk Advisors.
With innovative new offerings including Inter-Bank Intelligent Risk Data Search (I-BIRDS™) and New Account Opening and Synthetic ID Fraud, Infoglide looks forward to being part of what is shaping up to be an exciting few years of industry growth.