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Actimize, a NICE Company, Unveils Surveillance Solution for Rogue Trading Detection, Providing Enhanced Risk Management Capabilities
Wednesday, May 07, 2008
Combined Technology and Expertise in Trading Surveillance and Employee Fraud Detection to Address Unauthorized Trading Risks for Financial Institutions
NEW YORK, May 7 /PRNewswire-FirstCall/ -- Actimize, a leading provider of
transactional risk management software for the financial services industry
and a NICE Systems (NASDAQ:NICE) company, today announced its Employee
Trading Fraud solution for uncovering rogue trading in securities firms. The
new solution combines trading surveillance and employee fraud detection and
is built on Actimize's proven technology and domain expertise in the
institutional and proprietary trading market.
Based on a core analytics and profiling engine and a set of flexible
enterprise case management and investigation applications, the Actimize
Employee Trading Fraud solution is designed to identify trader behavior and
activities that could be related to fraud or unauthorized activities.
"In response to regulatory pressure and rogue trading events in early
2008, large firms around the world are reviewing their systems and risk
management processes," said Axel Pierron, senior vice president at Celent.
"Solutions, such as Actimize's, that provide a centralized view of trading
activities supervision as well as employee surveillance are clearly matching
the current needs for 'rogue trading' prevention solutions in the financial
industry."
The new solution, which was designed for implementation in two phases-the
first providing immediate surveillance within two-to-three months and the
second providing additional data sources and integration points-analyzes data
from various risk management, operations, human resources, compliance,
trading, audit and control, IT security and other systems, detecting
suspicious patterns and other key indicators. The solution integrates
information from across the enterprise within an intuitive investigation and
case management environment that 'connects the dots' and calculates the risk
that a particular trader or set of trades exposes to the firm.
"Over the last five years, Actimize has deployed employee fraud detection
and trading surveillance systems at large global firms," says David Sosna,
CEO of Actimize. "Because of our extensive experience in these two areas, and
following recent rogue trading market events, we are being approached by
industry leading firms for guidance. The Actimize Employee Trading Fraud
solution is the culmination of our experience in this space and the
collaborative process with leading compliance and operational risk managers
worldwide."
About Actimize
Mitigating transactional risk across enterprise silos, Actimize is a
leading provider of software solutions for anti-money laundering, brokerage
compliance and fraud prevention. Built on a patented, scalable and extensible
analytics platform, Actimize solutions enable financial institutions to
increase their insight into real-time customer behavior and improve risk and
compliance performance. Six of the top 10 global banks and eight of the top
10 U.S. brokerages use Actimize solutions to process hundreds of millions of
transactions a day. Actimize, a NICE Systems (NASDAQ: NICE) company, has
offices in New York, Israel, London and Tokyo. For more information, go to
http://www.actimize.com.
About NICE Systems
NICE Systems (NASDAQ: NICE) is the leading provider of Insight from
Interactions(TM) solutions and value-added services, powered by the
convergence of advanced analytics of unstructured multimedia content and
transactional data - from telephony, web, email, radio, video, and other data
sources. NICE's solutions address the needs of the enterprise and security
markets, enabling organizations to operate in an insightful and proactive
manner, and take immediate action to improve business and operational
performance and ensure safety and security. NICE has over 24,000 customers in
more than 135 countries, including over 85 of the Fortune 100 companies. More
information is available at http://www.nice.com.
NICE Trademarks:
360o View, Alpha, ACTIMIZE, Actimize logo, Customer Feedback, Dispatcher
Assessment, Encorder, eNiceLink, Executive Connect, Executive Insight, FAST,
FAST alpha Blue, FAST alpha Silver, FAST Video Security, Freedom, Freedom
Connect, IEX, Interaction Capture Unit, Insight from Interactions,
Investigator, Last Message Replay, Mirra, My Universe, NICE, NICE logo, NICE
Analyzer, NiceCall, NiceCall Focus, NiceCLS, NICE Inform, NICE Learning,
NiceLog, NICE Perform, NiceScreen, NICE SmartCenter, NICE Storage Center,
NiceTrack, NiceUniverse, NiceUniverse Compact, NiceVision, NiceVision Alto,
NiceVision Analytics, NiceVision ControlCenter, NiceVision Digital,
NiceVision Harmony, NiceVision Mobile, NiceVision Net, NiceVision NVSAT,
NiceVision Pro, Performix, Playback Organizer, Renaissance, Scenario Replay,
ScreenSense, Tienna, TotalNet, TotalView, Universe, Wordnet are trademarks
and/or registered trademarks of NICE Systems Ltd. All other trademarks are
the property of their respective owners.
This press release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such
statements are based on the current expectations of the management of NICE
Systems Ltd. (the Company) only, and are subject to a number of risk factors
and uncertainties, including but not limited to changes in technology and
market requirements, decline in demand for the Company's products, inability
to timely develop and introduce new technologies, products and applications,
difficulties or delays in absorbing and integrating acquired operations,
products, technologies and personnel, loss of market share, pressure on
pricing resulting from competition, and inability to maintain certain
marketing and distribution arrangements, which could cause the actual results
or performance of the Company to differ materially from those described
therein. We undertake no obligation to update these forward-looking
statements. For a more detailed description of the risk factors and
uncertainties affecting the company, refer to the Company's reports filed
from time to time with the Securities and Exchange Commission.
Press Contact:
Jonathan Stotts,
Actimize,
+1-212-994-3865,
jonathan.stotts@actimize.com
Investors:
Daphna Golden,
NICE Systems Ltd.,
+1-877-245-7449,
daphna.golden@nice.com
SOURCE NICE Systems Ltd.
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