Burlington, MA — April 28, 2011— Memento Inc., a leader in enterprise fraud management solutions for financial institutions, today announced that Bremer Bank, part of the Bremer Financial Corporation, has selected the Memento Enterprise Platform for combating a wide range of financial crime across multiple payment types and delivery channels.
During the selection process, Memento and Bremer collaborated on a successful proof of concept using historical bank data. The evaluation demonstrated Memento’s ability to accurately detect fraud across multiple channels and the efficiency gains possible through innovative applications for loss prevention and risk management staff. Bremer Bank will use the enterprise platform and deploy Memento’s Check Fraud, Deposit Fraud, ACH & Wire Fraud, Employee Fraud and AML solution modules as well as build custom solutions to meet current and future financial crime challenges.
A Comprehensive Approach to Fraud Detection
“We were looking for a single, enterprise platform that provided the flexibility necessary to augment our existing capabilities. During the proof of concept, it became clear that Memento’s approach and technology would allow risk management staff to better service our customers,” said Julie Burglund, vice president of Payment Services for Bremer Bank. “Additionally, the managed services delivery model ensures the solutions continue to evolve and improve over time.”
“We’re excited that Bremer has chosen Memento as their fraud management partner, and we look forward to a collaborative relationship that is driven by innovative methods to reduce fraud losses,” said John O’Malley, CEO of Memento. “Bremer Bank and the Otto Bremer Foundation have a long history of excellence and commitment to their customers, community and employees. Memento is proud to be selected by a leading financial institution with such a strong focus on customer service.”
About Bremer Financial Corporation
Bremer Financial Corporation is a privately-held, $8 billion regional financial services company owned by its employees and the Otto Bremer Foundation (OBF). Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul, Minnesota and provides a comprehensive range of banking, investment, trust and insurance services to its nearly 100 locations in Minnesota, North Dakota and Wisconsin. OBF uses its share of dividends to distribute charitable grants to Bremer Bank communities. For more information, go to bremer.com.
About Memento
Memento, Inc., a leader in enterprise fraud management delivers next-generation technology and proven solutions that allow financial institutions to rethink the way they combat and manage fraud. The Memento Enterprise Platform, the company’s award-winning software, protects deposit accounts from wide-ranging, costly threats and enables key stakeholders to measure the true value of loss prevention investments. Trusted by many of the world’s largest and most influential financial institutions, regional banks, and credit unions, Memento offers exceptional accuracy, rapid ROI, and unmatched business value. Visit www.mementosecurity.com for more information.
Contact:
David Hood
Director of Marketing
781.221.3030
Memento, Inc.