NEW YORK, October 17, 2012 /PRNewswire/ --
NICE Actimize, a NICE Systems (NASDAQ:NICE) business and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, is implementing its solutions at Iowa-based MetaBank (NASDAQ: CASH) to support the company's financial crime risk strategy for MetaBank and Meta Payment Systems, its electronic payments division.
MetaBank will utilize the Actimize Enterprise Risk Case Manager platform to provide a 360-degree view of enterprise risk across its business lines, to ensure compliance with the Bank Secrecy and US Patriot Act requirements and to reduce its operational expenses. Actimize's Suspicious Activity Monitoring and Customer Due Diligence (CDD) Anti-Money Laundering solutions will support Metabank's efforts to protect consumers and set the stage for tighter pre-paid industry crime prevention standards.
According to Debra Geister, Senior Vice President, AML/Bank Secrecy Act (BSA) at MetaBank, the institution will leverage the Actimize single platform approach and will add additional Actimize fraud solutions later this year to complete the organization's enterprise view of financial crime risk. The NICE Actimize solutions provide MetaBank with flexibility and the ability to detect suspicious patterns of activity across organizational silos as well as reduce operational expenses and risk by scaling to support the increasing demands inherent when processing millions of transactions per day."As a large, diverse organization, we realized the importance of implementing a comprehensive risk platform to support MetaBank's future growth and evolving requirements." said Geister. "The company's investment to manage financial crime risk is setting the stage to better protect consumers, to detect suspicious activity and to proactively identify fraudulent usage trends in the prepaid industry." "Creating a 360-degree view of the organization and of the customer, along with establishing consistency in monitoring suspicious activities, provide powerful benefits to a bank," said Amir Orad, President and CEO of NICE Actimize. "In addition, regulators are reviewing consistency in compliance implementation at banks. Our experience helping financial institutions develop and execute comprehensive and unique financial crime strategies allows us to assist MetaBank in addressing these challenges, while simultaneously providing a solid foundation that supports their future challenges and operational requirements."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV