NEW YORK , November 3 /PRNewswire-FirstCall/ -- Actimize, a leading provider of transactional risk management software for the financial services industry and a NICE Systems (NASDAQ:NICE) company, today announced that the Netherlands Authority for the Financial Markets (AFM) has selected the Actimize Market Abuse Solution to improve its surveillance and supervision of the Dutch market and detect various forms of Market Abuse such as market manipulation and insider dealing.
The AFM, the fourth largest regulator of financial markets in Europe , was established in March 2002 to supervise the conduct of the entire Netherlands financial market sector and to ensure that participants are handled properly and that they have accurate information. Market Abuse has become more difficult to detect over the last few years, due to the increasing complexity of financial instruments.
Actimize's surveillance technology has already been adopted by two of the largest market regulators in the United States .
The Actimize Market Abuse Solution monitors and detects suspicious transactions and automatically distributes alerts directly to relevant users within an intuitive case management workflow environment. The system uses several analytical methods to assign a priority score to alerts, thus improving the efficiency of regulators, trading managers and compliance staff. The Actimize solution is built on a single, integrated platform that enables enterprise customers to add additional compliance, fraud and anti-money laundering solutions over time, while retaining the same detection engine, case manager interface, dashboard, interactive trade blotter, investigation and audit tracking and other functions.
"The AFM's requirements are to ensure that the capital markets operate in a fair and efficient manner and to strengthen supervision in order to maintain confidence in and the reputation of the Dutch market," said Bruno Piers de Raveschoot, Head of Actimize Europe. "By implementing the Actimize Market Abuse Solution, with its proven ability to meet global regulatory demands and monitor all types of markets and instruments together with flexibility in the management of alerts, the AFM has adopted an unparalleled capability to enhance its status in the market."
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. Six of the top 10 global banks and eight of the top 10 U.S. brokerages use Actimize solutions to process hundreds of millions of transactions a day. Actimize, a NICE Systems 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) 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.
SOURCE Nice Systems Ltd.