Fiserv said that it is focused on integrating systems of record with analytic modeling tools to enable financial institutions better manage strategic risk with data-driven decision making.
The US-based fintech company said that previously siloed data from across the enterprise are combined into an actionable, strategic decision management platform through the integration.
According to Fiserv, this will allow financial institutions in making use of data to get forward-looking insights into business operations as well as in managing operational risk and governance.
The company has recently partnered with Strategic Risk Associates (SRA) and Moody’s Analytics to expand its existing data-driven offerings.
Fiserv market strategy vice president Danny Baker said: “The secret sauce of an effective decision management platform is transforming good data into information.
“This requires integrating systems of record like core platforms and payment systems with analytical modeling capabilities, then making that information easily accessible to financial institution decision makers.
“We’re doing the heavy lifting for our clients by partnering with providers like SRA and Moody’s Analytics to ensure the reliable, real-time source data from Fiserv core platforms, financial accounting solutions, and payments and channels solutions is available seamlessly within a strategic risk management platform and dashboarding toolkit.”
Fiserv said that its approach clubs together best in class offerings in financial planning and analysis (FP&A), risk management, and profitability, while utilising its Prologue Financial Accounting suite as the cornerstone.
With its existing partnership with Syntellis for profitability and FP&A, and now with SRA and Moody’s Analytics for enterprise risk management and governance, Fiserv is said to be building integrations and connections. These are said to facilitate clients’ transition from simple measurement of enterprise performance towards predictive analysis for enpowering decision makers in financial institutions.
The fintech firm said that integration of the SRA Watchtower Integrated Risk Management Platform into its own portfolio of banking solutions will give actionable risk intelligence to its clients via an advanced software-as-a-service (SaaS) solution.