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News

Fraud prevention for Colombian bank

Qognify : 01 December, 2009  (Application Story)
Actimize and Unisys are working together to provide Bancolombia with an anti-fraud solution to work with the bank's ATMs and remote banking systems
Actimize, a Nice Systems company and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, and Unisys Corporation have announced that Bancolombia is working with both firms to strengthen its ability to fight fraud across the entire bank. Bancolombia is implementing Actimize ATM/Debit, Remote Banking, Wire & ACH Fraud prevention solutions. As a strategic Actimize partner, Unisys is working on deployment of the solutions.

As a leader in the Colombian market, Bancolombia strives to best protect customer and firm assets by combating the threat of fraud across all its lines of business. Once deployed, the Actimize suite of fraud prevention solutions will monitor all types of transactions enterprise-wide, alerting on suspicious behaviour and blocking truly risky transactions.

'We performed an exhaustive review of all the top fraud prevention solutions in the market, looking for a single vendor who can cover our entire enterprise fraud needs," said Joaquín Fernando Yepes, IT security and compliance director at Bancolombia. "Actimize solutions and Unisys services are a major component of Bancolombia's strategy to provide greater levels of security to our customers.'

Financial institutions are being confronted with new types of fraud attacks on a daily basis. In the past, fraud criminals typically specialised in a single channel (e.g., credit card fraud, online banking fraud), but now high loss fraud events increasingly incorporate multiple channels. The Actimize enterprise-wide fraud solution suite protects across all channels, from ATM/Debit cards, remote banking (online, mobile phone, phone), deposit, electronic payment and more. Additionally, Actimize solutions monitor many types of employee behaviour, looking for and alerting investigators to suspicious activities.

"Fraud is a global problem that has no boundaries," said Amir Orad, executive vice president and chief marketing officer at Actimize. "Our strategic partnership with Unisys helps Actimize ensure quality deployments around the globe. Our cross-channel financial crime prevention solutions are today used by firms around the world because they scale to meet the challenges faced by large, complex enterprises while maintaining the flexibility to exceed group level and individual expectations."
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