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News

Anti-money laundering solution for Swiss bank

Qognify : 01 May, 2009  (Application Story)
Actimize software for money laundering surveillance to be delivered to international Swiss bank for equities trading compliance
Actimize, a Nice Systems company, has signed a seven-digit deal with a major Swiss-based multinational bank to provide a packaged equities trading compliance surveillance solution.

The bank is already using the Actimize platform to monitor for suspicious money movements and comply with regional Anti-Money Laundering (AML) regulations. Now the bank is expanding its enterprise-wide compliance capabilities with an additional investment in Actimize technology for equities trading oversight.

All Actimize solutions – from AML to Trading Compliance to Fraud Prevention – are built on a common platform, allowing firms to achieve a holistic view of enterprise risk. As a result, firms can reduce overall costs of data infrastructure, deployment, maintenance, training and support when deploying additional Actimize solutions.

“Today’s economic environment is contributing to two important trends in the compliance arena – continued investments in enterprise surveillance programs and streamlining operations and oversight functions, all while looking to reduce costs,” says Amir Orad, EVP and CMO of Actimize. “Firms around the globe are looking to simplify infrastructure and reduce the number of technologies and vendors with whom they deal. In addition to improved efficiencies and reduced transactional risks, this Swiss-based multinational client will be able to save considerable resources and shorten time-to-implementation by deploying an off-the-shelf, industry leading solution leveraging the same Actimize platform and IT related resources they already have in place.”

In production at many of the world’s top broker dealers and banks, the Actimize equities compliance surveillance solution fulfils a full range of compliance supervision and surveillance requirements for trading securities. The solution combines out-of-the-box detection and investigation capabilities with close to a hundred models and rules for detecting potential market manipulation and fair dealing with customers. The solution’s built-in robust desk supervision, reporting and oversight capabilities ensure that firms have adequate controls in place to monitor for potential trading abuses, and are able to document and demonstrate an adequate system of supervision to detect and prevent illicit trading behaviour.
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