Swiss IMTF Group becomes a Global Leader in Banking Compliance Solutions
On December 1, 2022, IMTF acquired the Siron® anti-money laundering and compliance solutions developed by US-based FICO Corporation, a leading provider of analytical business intelligence software. With this acquisition, IMTF now assumes the global operations of all Siron anti financial crime solutions.
has been a Siron partner for more 20 years and with this acquisition becomes the world's leading provider of AML and compliance solutions. Its offering includes comprehensive range of proven solutions, based on advanced analytical algorithms, that enable financial institutions to detect suspicious activity and behavioral changes.
IMTF serves clients in more than 50 countries from its headquarters in Givisiez and eight subsidiaries in Europe, the Middle East, India and the APAC region. This transfer of activity considerably increases the group's leverage, making it a world leader in compliance and process automation, with more than 1,600 banking and insurance customers and with over 300 professionals. The acquisition of the software developed by FICO is accompanied by the takeover of all associated customer relationships, employees and subsidiaries.
Will Lansing, CEO of FICO, ensures that the handover will go smoothly: "Having the Siron team join IMTF along with its technology means that existing customers can count on a smooth transition." This is in addition to IMTF's extensive knowledge of the regulatory domain and the Siron product line, based on its 20 years of experience in its installation, deployment and hosting.
Extended portfolio of products and services
This strategic agreement should enable the group's customers to optimize their investments through the adoption of innovative new features.
Gion-Andri Büsser, CEO of IMTF, says that the new features fit perfectly into the company's portfolio of offerings and mission: “The combination of the Siron platform with our existing applications offers a unique opportunity to better serve our customers and move towards integrated solutions in the area of regulatory compliance.”
IMTF's strategic roadmap aims to increase the accuracy and efficiency of all compliance solutions, while improving their flexibility and agility in the face of changing regulations.
IMTF will continue to develop the complete product line and the associated SaaS offering over the long term and distribute them worldwide. Sebastian Hetzler, vice president of compliance products at FICO, joins IMTF as co-CEO to strengthen the business and expand IMTF's global leadership position in regulatory technologies.