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NICE Actimize, a NICE Systems (NASDAQ:NICE) company and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, today announced that it has been ranked as the number one solutions provider in both the Anti-Money Laundering (AML) and Anti-Fraud software categories in Operational Risk & Regulation magazine's Compliance Software Rankings 2012.
"Regulatory approaches are changing, strengthening the argument for a unified and consistent company-wide approach to financial crime," according to Alexander Campbell, editor, Operational Risk & Regulation. "NICE Actimize, which ranked first in two of our six categories and third overall, supports this approach."
The NICE Actimize solutions provide a common framework for full-lifecycle detection, investigation, reporting and remediation of financial crime. With its customer-centric, enterprise-wide financial crime prevention capabilities, NICE Actimize enables financial institutions to address money laundering risks, new and emergent fraud threats, streamline processes, and better serve customers.
Each of the NICE Actimize solutions, Anti-Money Laundering and Anti-Fraud, can be easily integrated into a larger enterprise financial crime and compliance framework. Both solutions share a common technology platform, which offers IT cost benefits, operational efficiencies and performance benefits when compared to integrating disparate systems.
"We continue to invest in developing innovative solutions in order to stay ahead of the regulatory and criminal challenges facing the industry. With these two leading positions in financial crime, the rankings are continued proof of the success of our solutions," said Amir Orad, president and CEO NICE Actimize. "We thank the financial institutions which participated in the Operational Risk & Regulation survey for demonstrating their confidence in our technology and services in AML and fraud."
The Actimize Anti-Money Laundering solutions suite combines focused models, rules, and profiles with unique, advanced analytics, to help financial institutions comply with anti-money laundering regulations from agencies around the world, covering such functions as transaction monitoring, watch list filtering, accounting opening and onboarding, and effective identification of suspicious activities. The company's proven expertise and packaged offerings are dedicated to banking, securities, insurance and regulatory bodies.
The Actimize Integrated Fraud Management solution suite delivers real-time, customer-centric fraud prevention that supports a holistic enterprise fraud management program. The suite provides both channel and line-of-business specific detection solutions, including those for card fraud, web banking, deposit fraud, retail and commercial payment fraud, and employee fraud, that are fully integrated and seamlessly share data for true cross-channel fraud management. NICE Actimize fraud solutions provide financial institutions insight into customers and accounts, enabling them to effectively detect and prevent fraud, reduce financial losses, preserve brand reputation and protect customers.
Operational Risk & Regulation magazine's ranking methodology
The rankings were compiled from a survey conducted over four weeks in spring 2012. The survey was sent to readers of Operational Risk & Regulation from around the world and was also promoted through www.risk.net. Respondents were asked to rank their top five companies across six categories. The results were compiled by Incisive Research, a subsidiary of Incisive Media.
