January 07, 2008

 

Two of the top three largest U.S. banks have placed multi-million dollar orders with contact center and business analytics software company NICE Systems (News - Alert) Ltd., the company announced today.

The banks are reportedly using NICE Perform, part of NICE SmartCenter, as well as an enterprise fraud solution from Actimize, which NICE acquired in August. With NICE SmartCenter these banks will be able to gain powerful insights into customer and employee behavior – insights which can then be used to drive key business decisions. In fact, with NICE SmartCenter in place, the banks will be able to uncover trends that they never knew were happening, and be able to take corrective action to help keep their customers more satisfied and loyal than ever before.

Meanwhile, the Actimize software will enable these institutions to deal with issues related to compliance and fraud. The Actimize enterprise fraud solution is used to monitor financial transactions and activities. NICE claims this software enables financial companies to reduce fraud losses by orders of magnitude. The software will help boost the productivity of bank investigators, as well as to protect the bank’s reputation.

“This latest selection by two of the three largest banks in the US for such massive projects reflects a trend of NICE’s customers placing large-scale orders to expand their use of NICE solutions while also adding advanced applications to their implementations to address key business issues such as customer retention, operational efficiencies, compliance with regulations, and protecting enterprise assets from threats such as fraud,” said Haim Shani, CEO, NICE Systems Ltd., in a press release.

It is unclear from the release whether either of these two banks have done business with NICE previously.

NICE SmartCenter is a comprehensive and tightly bundled workforce optimization solution which includes speech analytics, performance management, workforce management, recording/quality monitoring, coaching and customer feedback. These are all delivered as a unified offering, within a Service-Oriented Architecture (SOA) framework, thus providing powerful functionality with maximum flexibility.

NICE continues to make incredible inroads in the banking industry, which is becoming increasingly focused on customer satisfaction and loyalty. Just two weeks ago the company announced that a major (unnamed) continental European bank had placed a multi-million dollar order for NICE Perform. The European bank is reportedly already using NICE SmartCenter for workforce management in five sites for over 2,000 agents, supporting its retail banking and insurance activities.

Earlier in December, NICE announced that it had won a multi-million dollar order from an unnamed Asian bank.

Due to non-disclosure agreements and the protection of its clients, NICE often does not name the financial institutions it does business with, nor does it give exact values for the contracts it signs with them.

For more information about NICE Systems visit www.nice.com.

Fore more information about Actimize visit www.actimize.com.

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Patrick Barnard is Assignment Editor for TMCnet and Associate Editor for Customer Interaction Solutions magazine. To see more of his articles, please visit Patrick Barnard’s columnist page.

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