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Actimize Provides CAAM with Solutions to Prevent Financial Fraud and Market Abuse

 
October 09, 2007


By Stefania Viscusi,
Assignment Desk Editor
 

Actimize, a NICE Systems (News - Alert) company and a provider of software solutions for anti-money laundering, brokerage compliance, customer due diligence and fraud prevention, has announced a successful customer win that furthers their portfolio of clients with a contract to supply software solutions to prevent financial fraud and market abuse for Credit Agricole Asset Management (CAAM).
 
The brokerage compliance market abuse and anti-money laundering  software solutions from Actimize, covers France and CAAM's European subsidiaries and will provide CAAM with improved monitoring of suspicious activity to better meet regulatory compliance and risk—further improving their reputation.
 
With the offering, CAAM will be able to specifically detect instances when questionable behavior or potential market abuse is occurring.
 
With Actimize's Brokerage Compliance solutions businesses have increased insight into suspicious behavior by monitoring across a comprehensive range of issues and products including tools to effectively manage the investigation, reporting, and audit tracking process. Also, Actimize's Anti-Money Laundering solution offers complete end-to-end compliance.
 
Marie-Madeleine Galindo, CAAM Project Manager noted their selection of Actimize for the rapid implementations of their software solutions and good international reputation.
 
Bruno Piers de Raveschoot, director of Actimize Europe commented on the significance of the agreement for Actimize, "We are very excited to be providing a solution that meets CAAM's risk and market abuse requirements, bringing the required infrastructure for an overall strategy to fight financial crime and money-laundering. We are seeing a tremendous interest from asset managers worldwide wishing to deploy a robust and proven solution to combat money laundering and enforce the new regulations around market abuse. We are confident in our ability to offer innovative solutions with real competitive advantages."

NICE announced the completion of their acquisition of Actimize, in late August for a total consideration of approximately $280 million including 80 percent cash and 20 percent NICE ordinary shares.
 
 
 
Stefania Viscusi is an established writer and avid reader. To see more of her articles, please visit Stefania Viscusi’s columnist page.

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