NetEconomy History

NetEconomy’s Efficient Risk Analysis System Enhancement (ERASE®) solution was originally developed as a telecom risk management platform to enable wireless carriers and fixed networks to detect mobile phone fraud.

In 1999, the ERASE solution was extended for the use of financial institutions. It was initially offered as a risk monitoring system at ING Bank, which continues the global rollout of ERASE throughout its network.

NetEconomy has over 140 operational implementations covering a range of financial institutions from retail, private, wholesale, and offshore banks, as well as securities firms and prepaid debit card processors.

NetEconomy also provides ASP services for anti-money laundering to US credit unions, and risk and fraud prevention to telecom operators in continental Europe.

In 2003, Microsoft elected NetEconomy as the leading software vendor delivering AML solutions to financial institutions. Since that time, NetEconomy continues to attract world-class partners including Unisys, LogicaCMG, PricewaterhouseCoopers, Ernst & Young, Deloitte, Profile, and HS Data.

On March 14, 2007, Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry worldwide, announced the acquisition of NetEconomy.

NetEconomy provides for Fiserv, a proven, comprehensive, industry-leading solution spanning anti-money laundering and fraud management that will be integrated with all Fiserv core platforms. NetEconomy is the key building clock of Fiserv’s strategy and vision to develop and deliver a premier enterprise governance, risk and compliance (GRC) solution for financial institutions worldwide.

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