Case Study: Empire Life achieves streamlined, auditable AML risk monitoring with Fiserv AML Risk Manager

Holistic AML Risk Monitoring Streamlines and Strengthens Compliance for Insurance and Investment Company

Empire Life, a Canadian insurance and investment company managing more than $18 billion in assets since 1923, faced a fragmented, manual approach to AML transaction and risk monitoring across multiple policy systems that made keeping up with changing regulations burdensome. To modernize and objectivize its program, Empire Life engaged Fiserv to deploy AML Risk Manager for automated risk ranking, watch list filtering and transaction monitoring.

Fiserv’s AML Risk Manager centralized watch list screening, transaction monitoring, customer risk‑rating and case management — including custom scenarios — so Empire Life can view all policies, alerts and transactions in one place and eliminate spreadsheet-based workflows. The implementation reduced the number of clients flagged as high risk, saved valuable compliance staff time, strengthened auditability (allowing the company to demonstrate client risk rankings to regulators) and increased overall confidence in the AML program, with Fiserv providing training and ongoing support.

Empire Life

Ian Brown

Manager