FIS™ (NYSE:FIS), the world's largest provider of banking and payments technology, today announced that it has acquired ICS Risk Advisors and Memento, Inc., two leading firms in the risk, fraud and compliance market. Terms of the deals were not announced.
The acquisition of these two firms underscores FIS' strategy to deliver a full complement of governance, risk, compliance services and integrated fraud solutions that drive value throughout the enterprise for financial institutions.
ICS Risk Advisors, a full-service risk management firm, develops, implements, maintains and reviews enterprise risk management and regulatory compliance programs for hundreds of financial institutions, spanning from the world's largest financial institutions to community banks. The company's large staff of expert consultants is comprised primarily of former federal regulatory examiners who have deep industry knowledge in all risk management areas.
Memento, a leading provider in enterprise fraud management, delivers next-generation fraud solutions through its award-winning enterprise platform that helps protect financial institutions from wide-ranging, costly threats and enables key stakeholders to measure the true value of loss prevention investments. Trusted by some of the world's largest and most influential financial institutions, regional banks and credit unions, Memento offers exceptional accuracy, rapid ROI and business value.
"We are extremely pleased with the added value ICS Risk Advisors and Memento will bring to FIS and our clients," said Kay Nichols, executive vice president, FIS Channel Solutions. "We are constantly expanding our offerings in this space to help our customers keep ahead of increasing regulatory demands and threat of fraud. By integrating both companies' offerings into our existing suite of solutions we are meeting the growing needs of our clients to manage these issues at both a point solution and an enterprise level. The acquisitions further enable us to position FIS as a single, trusted partner for all of a financial institution's risk, fraud and compliance needs."