April 30, 2009

 

In a bid to help enterprises reduce risks and the costs of their data infrastructure training, support and maintenance, Actimize, a NICE Systems company, offers Anti-Money Laundering (AML), Trade Compliance, and Fraud Prevention solutions. The company’s offerings are built on a common platform – making it easier for enterprises to have a holistic view of risks.

 

Now, the company has announced that it signed a seven-digit deal with a major multinational Swiss-based bank to provide a trading compliance surveillance solution.

 

“Today’s economic environment is contributing to two important trends in the compliance arena – continued investments in enterprise surveillance programs and streamlining operations and oversight functions, all while looking to reduce costs,” says Amir Orad, EVP and CMO of Actimize.

 

“Firms around the globe are looking to simplify infrastructure and reduce the number of technologies and vendors with whom they deal. In addition to improved efficiencies and reduced transactional risks, this Swiss-based multinational client will be able to save considerable resources and shorten time-to-implementation by deploying an off-the-shelf, industry leading solution leveraging the same Actimize platform and IT related resources they already have in place.”

 

This latest purchase from Actimize will add to the Actimize Platform already in use by the bank for monitoring suspicious money movements and will now also provide the company with equities trading oversight.

 

With this new surveillance solution, the bank will be able to remain compliant and meet all requirements for trading securities as the solution offers out-of-the-box detection capabilities and includes “close to a hundred models and rules for detecting potential market manipulation and fair dealing with customers.”

 

Earlier this year, Actimize was recognized by market analysis and BI company Datamonitor, as a key anti-financial crime vendor based on evidence uncovered for their study, “Using Technology to Combat Financial Crime in Retail Banking."

 

The study found that Actimize is the "only vendor" out of the 29 they reviewed, which has core-offerings across all AML and anti-fraud areas.

  

Jaroslaw Knapik, Financial Technology Analyst at Datamonitor and author of the report said, “The anti-financial crime landscape is still very fragmented; however we did find that Actimize currently has ‘core offerings’ within every anti-money laundering and fraud category we explored."