IMTF has completed the acquisition of Siron Compliance & AML business from US FICO Corp.
This deal will see all Siron compliance products, employees and client contracts be absorbed by IMTF. This will expand IMTF to over 1,600 clients, 300 employees and presence in ten countries.
As part of the acquisition, Sebastian Hetzler has joined IMTF from FICO as its co-CEO.
Hetzler said, “IMTF is uniquely positioned to transform the compliance space and build out an unrivalled offering in RegTech.
“Integrations of Machine Learning-based components, Crypto-Compliance aspects and most importantly a focus on Client Experience and Client Delivery is what motivates a global team of experts around the world.”
IMTF aims to make compliance more efficient, helping to increase precision and reduce costs. Its platform offers tools for compliance, fraud detection and counter-terrorism financing, as well as enterprise digitization tools to automate information, processes and more. Siron is a tool suite to detect financial crime and suspicious activities.
IMTF Group CEO Gion-Andri Büsser added, “We couldn’t be more excited to have the Siron products and colleagues as part of IMTF, combining the world’s leading AML and KYC tools with our modern IMTF digitization and compliance platform to fight financial crime.”
IMTF was recently named in the sixth annual RegTech100 list.
The RegTech company has had a busy year. It recently teamed up with Parashift, a provider of advanced machine learning-based document classification and data extraction software, to accelerate document processes with AI.
Gion-Andri Büsser, the CEO of IMTF recently spoke to FinTech Global about why financial institutions must improve the second layer of their compliance ecosystem.
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