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Largest Colombian Bank Deploys Actimize Fraud Management Program
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Largest Colombian Bank Deploys Actimize Fraud Management Program

 
November 30, 2009

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By Kelly McGuire, TMCnet Editor
 

NICE Systems, a provider of advanced solutions for companies to capture, store, retrieve and analyze customer interactions for contact centers and enterprises, announced a new push to strengthen its preventative measures against fighting fraud in the financial services market.


Bancolombia, Colombia’s largest bank, has deployed Actimize, a NICE company, and a provider of financial crime, risk and compliance software platforms for the financial services industry various solutions to improve its ability to prevent – and fight – fraud across the bank industry. 

Joaqun Fernando Yepes, IT security and compliance director at Bancolombia said that, after review of all the top fraud prevention solutions in the market, the company was looking for a single vendor to meet the entire enterprise fraud needs. 

“Actimize solutions and Unisys (News - Alert) services are a major component of Bancolombia's strategy to provide greater levels of security to our customers,” Yepes said. 

By implementing Actimize’s ATM, debit, remote banking, wire and ACH fraud prevention solutions, Bancolombia will be able to monitor all types of transactions enterprise-wide, alerting on suspicious behavior and blocking truly risky transactions with the Actimize systems suite. 

Additionally, Unisys Corp, as a strategic Actimize partner, is working on deploying the newly adopted systems. 

With the financial industry suffering major issues regarding fraud, including identity theft and losses, financial institutions are being confronted with new types of fraud attacks on a daily basis. 

In previous instances, fraud criminals typically specialized in a single channel to attack such as credit card fraud or online banking fraud. 

However, now high loss fraud events increasingly incorporate multiple channels. By utilizing the Actimize enterprise-wide fraud systems, a company like Bancolombia is protected across all channels. 

Amir Orad, executive vice president and chief marketing officer at Actimize, said that fraud is a global problem with no boundaries. 

“Our strategic partnership with Unisys helps Actimize ensure quality deployments around the globe,” Orad said. “Our cross-channel financial crime prevention solutions are today used by firms around the world because they scale to meet the challenges faced by large, complex enterprises while maintaining the flexibility to exceed group level and individual expectations.” 

Kelly McGuire is a TMCnet Web editor, covering CRM and workforce technologies, and anchor of its daily TMC Newsroom video broadcast. Kelly also writes about eco-friendly "green" technologies and smart grids, compiling TMCnet's weekly e-Newsletters on those topics, as well as the cable industry. To read more of Kelly's articles, please visit her columnist page.

Edited by Kelly McGuire

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