March 18, 2013
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, announced today that the Actimize Anti-Money Laundering (AML) Suspicious Activity Monitoring and Watch List Filtering solutions were selected by
leading commercial bank, PT Bank Central Asia Tbk (BCA), to provide transaction monitoring and client screening functionality for its more than 950 branch offices. Regulatory pressures, combined with the fact that the bank was using a previously installed transaction monitoring system that did not cover the full range of the bank's product offerings, resulted in the bank's creation of a new anti-money laundering strategy and the adoption of these key components of Actimize's Anti-Money Laundering (AML) suite. Upon completion, the software system is expected to monitor 12 million accounts throughout
NICE Actimize's AML solutions were chosen by the bank, with support by IT solutions provider Q2 Technologies (subsidiary of Anabatic Technologies), to fulfill business needs that included flexibility, a consolidated view of alerts, and real-time transaction and customer screening. BCA will leverage NICE Actimize's anti-money laundering platform and solutions to address a variety of regulatory requirements with a single enterprise-wide solution for multiple business units and regulatory jurisdictions.
"At BCA, we worked closely with NICE Actimize and Q2 Technologies to develop an effective and rapid deployment strategy for integrating Actimize solutions with our existing applications. The main objectives are to fully comply with regulatory requirements and to move from a manual to a fully updated real-time monitoring capability," said
, Group Head Core Application Management, BCA. "It is important for our bank to be seen as an early adopter of an automated system in our region, and we feel this strong direction will give us a competitive advantage in the marketplace."
The Actimize Suspicious Activity Monitoring solution will provide the bank with end-to-end coverage to identify and report suspicious transactions related to money laundering and terrorist financing. NICE Actimize's Watch List Filtering solution will provide enterprise-wide, multi-jurisdictional, and multi-business unit coverage for screening customers and transactions against sanction, PEP, and internal lists.