Pan-American Gains Enterprise View of Compliance to Effectively Manage Money Laundering

Pan-American Life Insurance Group needed an anti-money laundering (AML) solution that matched its reach and expertise. With AML Risk Manager from Fiserv, the Group found a single solution that could detect money laundering and manage AML and tax reporting compliance across 22 countries.


Pan-American Life Insurance Group operates in 22 countries, each with its own set of AML regulations. The Group wanted a single, insurance-driven AML platform that could support its entire global footprint, resulting in greater visibility, lower costs and less risk.


Once fully deployed, AML Risk Manager will centralize the Group's multi-country compliance activities into a single world view. The solution also provides FATCA, CRS, watch list filtering and transaction monitoring.

Proof Points

Consolidation of multiple AML systems provides improved risk protection and reduced operational costs. Detection methods enable faster, more accurate financial crime detection, while alerts and risk rankings accelerate investigations.



Pan-American Life Insurance Group needed a single partner that could provide a corporate-wide view into the company's AML and compliance activities.

Previously, the team managed AML risk using multiple tools to meet varied regulatory requirements. Metrics were prepared manually in spreadsheets, and leaders had limited or no access to source information. It took more than 20 spreadsheets to see per-country views of compliance activities and risks.

Managing multiple vendors was time-consuming and costly, and AML capabilities differed by provider. The Pan-American team wanted consistency across the company and more direct insight into country-level activities to improve overall compliance and reduce risk.

"The fragmented approach didn't fit with our corporate AML vision," says Paola Corrada, Vice President and Chief Compliance Officer of Pan-American Life Insurance Group. "I wanted a corporate solution that could meet all of our needs across the board."


Client Profile

Pan-American Life Insurance Group is a leading provider of life, accident and health insurance throughout the Americas. The Group has earned the trust of millions of customers since 1911.

Today, the Group has more than 20 member companies and nearly 2,000 employees. It operates in 49 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and throughout Latin America and the Caribbean.


Picking a Single Partner

Pan-American wanted an insurance-focused solution that could accommodate a multi-country implementation, while offering the flexibility to adapt as country-specific regulations and risk changed. They also needed insurance expertise and an international footprint. AML Risk Manager from Fiserv provided the solution.

AML Risk Manager is used by more than 1,200 organizations across 70 countries and supports multiple currencies and languages. Reporting rolls up to a single corporate view, and can be organized by country, product or business unit.

The Fiserv solution also brought four important detection methods into a single, user-friendly tool: Foreign Account Tax Compliance Act (FATCA) standards, Common Reporting Standard (CRS), watch list filtering and transaction monitoring. The system automatically identifies and ranks suspicious activities, then sends desktop alerts.

Planning an Enterprise Rollout

The company's rollout is a substantial undertaking involving 22 countries, dozens of legacy systems and multiple insurance products. Corrada started the implementation in 2019 with the highest-risk products in four countries: Colombia, Costa Rica, the Cayman Islands and Panama. Lessons learned during those rollouts are being incorporated into future phases; the entire implementation will be complete by 2021.

Corrada is already seeing the benefits of the comprehensive solution even though it isn't fully rolled out. She can quickly see how many high-risk cases her team is managing and who's working on them – without culling through multiple spreadsheets. And, a global vantage point allows her to reduce risk for the company because it's easier to spot trends and focus her team's mitigation efforts.


AML Risk Manager delivers powerful behavioral and risk monitoring.  


Goes beyond traditional transaction monitoring to ensure regulatory compliance


Advanced analytics minimize false positives and prioritize alerts


Innovative matching analytics and robust alert and case management features reduce costs, mitigate risks and achieve long-term regulatory, operational and IT objectives.


Robust profiling capability, including rolling time periods


Flexible platform adapts to regulatory changes and optimizes operational efficiency

We recognized the value of a comprehensive and holistic view of financial crime. AML Risk Manager was the best solution for us.

-  Paola Corrada, Vice President and Chief Compliance Officer, Pan-American Life Insurance Group


AML Risk Manager for Life Insurance

Arm your compliance officers with processes and technology designed to support the specific needs and money laundering risks faced by life insurance companies.


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