October 29, 2008

 

To help ensure enterprise-wide compliance is achieved across its operations, Credit Agricole Group has announced it is implementing Actimize's risk management solutions.

 

Actimize, a NICE systems company, and provider of software solutions for anti-money laundering, brokerage compliance and fraud prevention, will offer the company specific compliance management for the Market Abuse Directive, with a focus on insider dealings.

 

The Credit Agricole Group is a financial services provider. Credit Agricole (CA (News - Alert)) Titres provides securities and accounts management and acts mainly as a custodian for the entire retail banking operation of the group.

 

As per the latest announcement, Actimize will implement its Brokerage Compliance Market Abuse Solution to allow the company to further protect their customers against the risks of market manipulation through the detection and monitoring of suspicious transactions.

 

With Actimize's Brokerage Compliance Market Abuse solution, analytical methods are used to assign a priority score to alerts which are then sent to the relevant retail banking branch and users within the group.

 

“Credit Agricole Group joins our strong European client base that are standardizing on Actimize solutions for enterprise-wide compliance management and fighting financial crime,” said Bruno Piers de Raveschoot, Vice President of Actimize Europe. “We understand the needs of large financial institutions around the globe and we’re committed to providing the most innovative solutions and best customer service."

 

Earlier this month, Actimize made headlines when it announced that MasterCard deployed their technology to augment its ATM and Debit fraud detection capabilities for issuers.

 

The technology, which has been used and tested by MasterCard and other card issuer clients, successfully fights ATM and debit fraud across multiple card brands and geographies. Actimize's fraud detection analytics can create and update multi-dimensional profiles in real-time to detect suspicious activities at the card, device and account level.

Back in September, the company also announced that Unisys’ (News - Alert) Singapore subsidiary implemented their advanced financial crime surveillance system for DBS Bank, Singapore’s largest financial institution and one of the largest financial services groups in Asia.

 

Using the system, the bank can enhance risk monitoring by more closely watching transactions and analyzing potentially suspicious patterns across their entire product channels.