FIS, a provider of banking and payments technology, announced that it has acquired ICS Risk Advisors and Memento—two firms that are in the risk, fraud, and compliance market.
In a statement, FIS said 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 provider in enterprise fraud management, delivers next-generation fraud solutions through its 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.
Terms of the deals were not disclosed.