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Actimize now also owns the rights to one of the industry's fastest growing card data consortiums, with billions of ATM / Debit transactions collected from thousands of institutions worldwide. The consortium data will be used to enhance Actimize's existing fraud detection models and allow them to gain unique capabilities such as identification of compromised merchants, terminals and cards as well as early worldwide ATM fraud trends. These capabilities are especially useful in detecting and managing the risk behind "mass compromises".
By combining Actimize's existing enterprise fraud platform, used by some of the largest banks in the world, with the additional insights gained from the predictive consortium models, Actimize will now be able to provide unparalleled ATM and Debit fraud protection to its customers as part of a true cross-channel, cross-silo, enterprise solution. Additionally, these models will leverage the Actimize Risk Case Manager, and will work in tandem with other Actimize software capabilities, including the Actimize investigation tools, integration adapters and real-time execution engine.
"Our clients told us that they were unable to find consortium-backed, proven ATM/Debit analytics on a strategic enterprise case management platform with strong real-time capabilities," says David Sosna, CEO of Actimize. "We are responding to the needs of the market with the strategic acquisition of consortium fraud detection models. The analysis we will glean from this capability will enable us to offer our clients mission-critical fraud solutions, building on Actimize's already strong enterprise approach."
According to 2007 TowerGroup and American Bankers Association market data, debit card usage and fraud have experienced double-digit growth rates over the last four years. In addition, financial institutions are faced with increasingly sophisticated attacks involving POS replacements, PIN encryption and other mass compromise events, cross-border attacks and even employee collusion. With this announcement, Actimize is the only solution in the market that offers consortium-based analytics that can fight these new fraud threats as part of a proven cross-channel enterprise fraud solution.
The consortium data-based analytical models will be rolled out to Actimize ATM/Debit Fraud customers as part of Actimize's next major product release and are expected to be available on the existing Actimize platform in the first months of 2009.
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. Actimize technology processes billions of transactions a day for many of the world's top banks and brokerages. Actimize, a NICE Systems (NASDAQ: NICE | Quote | Chart | News | PowerRating) 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 | Quote | Chart | News | PowerRating) 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.
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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