In one of the First and Largest Moves in the Banking Sector, Actimize to Replace and Consolidate Dozens of 3rd Party and Proprietary Anti-Fraud Systems Across Various Channels

RA'ANANA, Israel and NEW YORK, November 2 /PRNewswire-FirstCall/ -- Actimize, a NICE Systems (NASDAQ: NICE) company and the largest and broadest financial crime, compliance and risk management solutions provider to the financial services industry, today announced that a top-10 global bank, has selected the company as its strategic partner for fighting financial crime in a high 7-digit deal. The bank will standardize on the Actimize anti-fraud platform in one of the industry's largest and most comprehensive moves towards a single enterprise-wide fraud risk management platform. The Actimize packaged solutions will enable the institution to prevent fraud in real-time, across various channels such as Internet, call center, cards, payments and ATM. The Actimize platform will also support self-development of proprietary fraud models by the bank's internal experts. In addition, the bank will use Actimize's enterprise case management solution to manage fraud investigations across the enterprise.

The bank, like many other financial institutions, has been challenged to manage multiple legacy anti-fraud systems and siloed lines of business. Following years of rapid growth and multiple acquisitions, the bank has dozens of disparate fraud detection systems in place, which are expensive to maintain, lack the flexibility necessary to respond to new fraud threats and do not leverage cross-channel information.

The bank plans to consolidate and replace these third-party and proprietary systems with the Actimize packaged fraud solutions and expects to improve fraud detection and prevention, create a holistic view of customer behavior, deploy rules and policies, improve investigation operations and reduce Total Cost of Ownership (TCO) for IT and other product related costs. Furthermore, the bank will use the Actimize platform and development tools to develop new internal fraud models.

"Even as financial services institutions are still clawing their way out of the morass of the global financial recession, investments in fraud prevention and financial crime management remain a necessity," said George Tubin, senior research director at TowerGroup. "Financial institutions will seek ways to do more with less in dealing with increasingly sophisticated and coordinated fraud attacks. Two overarching themes - an enterprise approach to fraud and increased use of adaptive analytics - represent much of that focus for the coming year."

David Sosna, chief executive officer at Actimize said, "As financial crime and enterprise fraud become more complex and costly, and also move up financial institutions' agenda, we believe that we can significantly leverage this strategic win to drive further growth. This win is a major milestone for Actimize and validates our position as the largest and broadest financial crime solutions provider. We are committed to remaining at the forefront of this market with proven solutions, technology and satisfied clients."

About Actimize

Actimize, a NICE Systems company (NASDAQ: NICE) is the world's largest and broadest financial crime, risk and compliance solutions provider. Actimize empowers its clients to prevent financial crime, mitigate risk, reduce operational costs, minimize losses and improve compliance. Actimize provides real-time and cross-channel fraud prevention, anti-money laundering, enterprise investigations, risk management and trading surveillance solutions; built upon the Actimize Core Platform which has been enhanced by the company's acquisitions of Syfact and Fortent (Searchspace) analytics and technology. With offices across North America, Europe, Asia and the Middle East, Actimize serves the majority of the world's largest financial institutions including all of the top ten global banks. 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 150 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.

    Press Contact:
    Jonathan Stotts
    Actimize
    +1-212-994-3865
    jonathan.stotts@actimize.com

    Investors:
    Daphna Golden
    NICE Systems Ltd.
    +1-877-245-7449
    daphna.golden@nice.com

SOURCE NICE Systems

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