DolEx Streamlines Processes with Cloud-Based Deployment of Fiserv Anti-Money Laundering Technology
January 16 2020 - 8:30AM
Business Wire
Deployment will enhance efficiency and enable
seamless customer interactions
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of
financial services technology solutions, announced today that DolEx
Dollar Express, Inc. and its affiliate, Europhil, will enhance
their anti-money laundering (AML) processes with technology from
Fiserv. DolEx, a provider of retail financial services in the U.S.
and Spain, offers wire transfers, consumer loan origination,
walk-up bill payment, check cashing, prepaid cards and other
services through more than 500 proprietary retail stores and over
2,500 agent locations, facilitating more than $4.5 billion in
volume each year.
DolEx will implement cloud-based versions of AML Risk Manager
and Payment Fraud Manager from Fiserv, deploying the solutions via
Amazon Web Services (AWS) as part of its overall technology
strategy.
“DolEx provides essential financial services to underserved
consumers, and we are focused on delivering excellent service and
value,” said Mario Trujillo, Chief Executive Officer, DolEx Dollar
Express, Inc. “By using Fiserv technology we will further
strengthen our already robust AML processes. We will gain
additional efficiency, scale and flexibility, which will enable
better interactions and improved frictionless customer experiences.
Think of DolEx as Fintech for the Underbanked.”
AML Risk Manager provides advanced customer risk profiling, risk
scoring, transaction monitoring and know your customer (KYC)
capabilities, and Payment Fraud Manager is a comprehensive
cross-channel monitoring and interdiction solution for electronic
payments. The solutions utilize sophisticated techniques such as
machine learning to detect suspicious transactions, leading to more
accurate fraud detection and fewer false positives. This helps to
eliminate the inconvenience and delay caused when legitimate
transactions are flagged for investigation, benefitting both
customers and staff by facilitating a better experience and more
efficient operations.
Both solutions are designed to scale to handle high volumes of
transactions, which is particularly important for DolEx during peak
processing periods such as Mother’s Day week and other holiday
seasons, when large volumes of money are transferred.
“We enable clients to deploy technology in the way that works
best for them,” said Pat Korb, president of Financial & Risk
Management Solutions at Fiserv. “AML Risk Manager will enable DolEx
to enhance their financial crime prevention capabilities while
taking advantage of the scalability and flexibility of cloud-based
hosting.”
Fiserv offers a wide range of technology deployment and
operations choices that enable clients to optimize performance,
efficiency, and flexibility in support of their business
strategies. From on-premises, hosted, application service provider
(ASP), and expanding private or public cloud options, to
application programming interface (API) integrations, Fiserv is
continually innovating delivery capabilities to drive high-value
results for clients.
In a world that is moving faster than ever before, Fiserv helps
clients deliver solutions that are in step with the way people live
and work today – financial services at the speed of life. Learn
more at fiserv.com.
Additional Resources
- AML Risk Manager -
fiserv.com/risk-compliance/fraud-risk-aml-compliance-management/aml-risk-manager.aspx
About DolEx Dollar Express, Inc.
DolEx is a multinational company with over 20 years of
experience in the Financial Services Industry. They offer a
comprehensive selection of must-have products and services,
including, among others Domestic and International Remittances,
Payments, Check Cashing, and Installment Loans.
As one of the US leaders in the Retail Financial Services
Industry, they take great pride in their unique network of more
than 500 proprietary retail stores and over 2,500 independent
retail agents that, in partnership with DolEx, serve and meet their
customer’s financial service’s needs.
In the US, DolEx serves the Hispanic community through its two
industry-leading brands, DolEx & Quisqueyana. Their retail
network has a presence in over 30 US states, Puerto Rico and the US
Virgin Islands.
In Spain, their brand Europhil has been a leader for many years
in the Money Transfers Industry. With over 50 proprietary retail
stores and close to 500 independent retail agents, they have been
fulfilling their customer’s needs sending money to friends &
family in Latin America and several other countries and regions
around the world, including the Philippines and Africa. To learn
more visit DolEx.com or call 1800.892.0210.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and
information in a way that moves the world. As a global leader in
payments and financial technology, the company helps clients
achieve best-in-class results through a commitment to innovation
and excellence in areas including account processing and digital
banking solutions; card issuer processing and network services;
payments; e-commerce; merchant acquiring and processing; and the
Clover™ cloud-based point-of-sale solution. Fiserv is a member of
the S&P 500® Index and the FORTUNE® 500, and is among the
FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com
and follow on social media for more information and the latest
company news.
FISV-G
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version on businesswire.com: https://www.businesswire.com/news/home/20200116005163/en/
Media Relations: Ann Cave Director, Public Relations
Fiserv, Inc. 678-325-9435 ann.cave@fiserv.com
Additional Contact: Sharada Alvakonda Marketing
Communications Manager Financial & Risk Management Solutions
Fiserv, Inc. +44-7548-705-375 sharada.alvakonda@fiserv.com
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