Bank of Ireland to address fraud and money laundering risks with Nice Actimize
04 April 2011 | 6505 views | 0
Source: Nice Actimize
NICE Actimize, a NICE Systems (NASDAQ:NICE) company and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, today announced that its Enterprise Risk Case Manager, Card Fraud and Anti-Money Laundering (AML) solutions have been chosen by Bank of Ireland.
NICE Actimize's single financial crime platform will allow the bank to obtain a more holistic view of financial crime risk across the enterprise to help in its efforts to minimise risk and enhance regulatory compliance.
In response to rising regulatory pressure and growing fraud and AML threats, Bank of Ireland sought to be proactive by adopting a modern solution that can help them adapt to the evolving financial crime and regulatory landscape.
"The implementation of NICE Actimize's solutions is an example of our institution's commitment to staying ahead of financial crime activity," said Dermot Mullen, divisional risk partner at the Bank of Ireland. "Banks that invest in technology to protect their customers simply run more efficient businesses and reduce their operational losses. NICE Actimize's technology will help us to build upon existing preventative measures and to detect potential illicit behaviour early on by providing Bank of Ireland with additional ability to monitor activity occurring within and across different segments of our organisation. Further, the flexibility of NICE Actimize's platform will enable us to easily adapt as new regulations are enacted."
Bank of Ireland will implement a number of NICE Actimize financial crime prevention solutions across its businesses that will address fraud and money laundering risks. Built on a single core risk platform, all solutions connect seamlessly to provide enterprise-wide risk management and compliance support.
"We are pleased to add Bank of Ireland to our growing European, and global, customer base," said Amir Orad, president and chief executive officer of NICE Actimize. "In today's highly competitive business climate, institutions such as Bank of Ireland recognise that effective financial crime management has a great impact on banks' operational effectiveness and profitability. Bank of Ireland has proven itself as a market leader by choosing an integrated approach to fraud prevention and compliance, to better protect their clients, reputation, and business performance."