Actimize, a NICE Systems (NASDAQ:NICE) company and the largest and broadest financial crime, compliance and risk management solutions provider to the financial services industry, today announced that a top-10 global bank, has selected the company as its strategic partner for fighting financial crime in a high 7-digit deal. The bank will standardise on the Actimize anti-fraud platform in one of the industry’s largest and most comprehensive moves towards a single enterprise-wide fraud risk management platform. The Actimize packaged solutions will enable the institution to prevent fraud in real-time, across various channels such as Internet, call centre, cards, payments and ATM. The Actimize platform will also support self-development of proprietary fraud models by the bank’s internal experts. In addition, the bank will use Actimize’s enterprise case management solution to manage fraud investigations across the enterprise.
The bank, like many other financial institutions, has been challenged to manage multiple legacy anti-fraud systems and siloed lines of business. Following years of rapid growth and multiple acquisitions, the bank has dozens of disparate fraud detection systems in place, which are expensive to maintain, lack the flexibility necessary to respond to new fraud threats and do not leverage cross-channel information.