A software solution to prevent financial fraud and market abuse from Actimize, a leading provider of transactional risk management software for the financial services industry and a NICE Systems (NASDAQ:NICE) company, has been selected by Credit Agricole Asset Management (CAAM) in order to strengthen its ability to detect behaviour that could be interpreted as questionable and potentially considered as market abuse.
CAAM has also selected an Actimize Anti-Money Laundering (AML) solution - a comprehensive solution for monitoring suspicious activity, which includes both an investigative case management function for flux analysis and global watch list monitoring. This agreement signed between CAAM and Actimize covers France and CAAM's European subsidiaries.
"CAAM takes regulatory compliance very seriously," says Marie-Madeleine Galindo, CAAM Project Manager. "We were seeking an AML and market abuse software solution to help strengthen our worldwide reputation and to put into practice an approach which is centred on managing risk in our business. We chose Actimize because these two software solutions can be implemented rapidly and because Actimize has a very good international reputation."
"This is a significant win for Actimize, which reinforces our portfolio of prestigious clients," says Bruno Piers de Raveschoot, director of Actimize Europe. "We are very excited to be providing a solution that meets CAAM's risk and market abuse requirements, bringing the required infrastructure for an overall strategy to fight financial crime and money-laundering. We are seeing a tremendous interest from asset managers worldwide wishing to deploy a robust and proven solution to combat money laundering and enforce the new regulations around market abuse. We are confident in our ability to offer innovative solutions with real competitive advantages."