SOURCE: Actimize

Actimize

June 17, 2009 08:15 ET

Vanguard Deploys Cross-Channel Fraud Prevention From Actimize, a NICE Systems Company, to Enhance Protection of Client Assets

Actimize Deposit, Banking and Trading Fraud Solutions Help Prevent Financial Crime, Extending Vanguard's Multi-Layered Fraud Prevention Framework

NEW YORK, NY--(Marketwire - June 17, 2009) - Actimize, a leading provider of transactional risk management software for the financial services industry and a NICE Systems company, today announced that Vanguard has deployed its Remote Banking Fraud and Deposit Fraud solutions to enhance its fraud prevention efforts and better serve its large and diverse client base. The solutions deployed provide broad, cross-channel protection.

Vanguard deploys a multi-layered fraud prevention strategy, monitoring from authorization through transaction completion. Integrated, multi-layer fraud solutions better protect firm and customer assets when compared to single-layer or siloed approaches. Following evaluation of various fraud prevention tools, Vanguard decided to adopt Actimize solutions as the proactive transactional monitoring layer for certain types of accounts, providing cross-channel surveillance to strengthen security, fraud detection, and the client experience. Actimize was chosen primarily for the breadth of its detection capability and its multi-channel integration.

"Fraud is dynamic and migrates across various channels," said Ellen Rinaldi, principal and head of Information Security at Vanguard. "With the addition of the Actimize solution to our risk management environment, we have strengthened our ability to detect and prevent fraud across channels. In the process, we are continuing to improve our client service by adding to our ability to proactively investigate transactions that appear high risk and alert clients before they see an impact in their accounts."

"Cross channel detection is one of the most important attributes when it comes to fighting fraud, and Vanguard has just enhanced its capabilities in this area," said Amir Orad, EVP & CMO of Actimize. "We believe fraud prevention must be multi-layered and multi-channel. As financial institutions improve security and fraud detection in one channel, the fraudsters migrate to the next channel. Our experience with multiple clients has consistently shown that monitoring one channel helps catch fraud in another."

Used by many of the world's top financial institutions, Actimize's fraud prevention solutions are built on a single, scalable platform that is proven to detect, identify, and prevent fraud across channels and financial products in real time, stopping losses before they occur.

Actimize Remote Banking Fraud solution provides high volume, cross-channel transaction monitoring across multiple remote channels including Web, phone, mobile and more, while Actimize Deposit Fraud solution helps institutions minimize deposit fraud losses by providing comprehensive account activity monitoring and a proprietary algorithm specifically designed to analyze deposits and withdrawal activities.

About Vanguard

Vanguard, headquartered in Valley Forge, Pennsylvania, is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages $1.1 trillion in U.S. mutual fund assets, including nearly $500 billion in retirement assets. Vanguard offers more than 150 funds to U.S. investors and more than 50 additional funds in non-U.S. markets.

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 company, has offices in New York, Israel, London and Tokyo. For more information, go to www.actimize.com.

About NICE

NICE Systems is the leading provider of Insight from Interactions™ solutions and value-added services, powered by advanced analytics of unstructured multimedia content -- from telephony, web, radio and video communications. 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 150 countries, including more than 85 of the Fortune 100 companies. More information is available at www.nice.com.

Contact Information

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    Jonathan Stotts
    Actimize
    +1-212-994-3865
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