NICE Actimize Solutions Implemented by MetaBank to Support Financial Crime Risk Strategy By Providing a 360-Degree View of Enterprise Risk
Poster: SySAdmin
Posted on October 17, 2012 at 6:07:01 AM
NICE Actimize Solutions Implemented by MetaBank to Support Financial Crime Risk Strategy By Providing a 360-Degree View of Enterprise Risk
MetaBank has adopted Actimize's anti-money laundering (AML) solutions to ensure compliance, detect suspicious activity, and reduce operational costs
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."
NICE Actimize financial crime solutions provide a common technology and business
framework for full-lifecycle prevention and detection, investigation, reporting, and
remediation of financial crime. With its customer-centric, enterprise-wide financial crime
prevention capabilities, NICE Actimize enables financial institutions to address money
laundering risks, as well as new and emerging fraud threats, to streamline processes, and
to better serve customers.
Each of the NICE Actimize solutions used at MetaBank can be easily integrated into a
larger enterprise financial crime framework. NICE Actimize solutions share a common
technology platform, which offers IT cost benefits, operational efficiencies, and
performance benefits when compared to integrating disparate systems.
About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk and
compliance solutions for regional and global financial institutions, as well as government
regulators. Consistently ranked as number one in the space, NICE Actimize experts apply
innovative technology to protect institutions and safeguard consumers and investors assets
by identifying financial crime, preventing fraud and providing regulatory compliance. The
company provides real-time, cross-channel fraud prevention, anti-money laundering
detection, and trading surveillance solutions that address such concerns as payment fraud,
cyber crime, sanctions monitoring, market abuse, customer due diligence and insider
trading. Find us at http://www.nice.com/actimize, @NICE_Actimize or NASDAQ:NICE.
About NICE Systems
NICE (NASDAQ: NICE) is the worldwide leader of software solutions that deliver
strategic insights by capturing and analyzing mass quantities of structured and
unstructured data in real time from multiple sources, including phone calls, mobile apps,
emails, chat, social media, and video. NICE's solutions enable organizations to take the
Next-Best-Action to improve customer experience and business results, ensure compliance,
fight financial crime, and safeguard people and assets. NICE solutions are used by over
25,000 organizations in more than 150 countries, including over 80 of the Fortune 100
companies.
Trademark note: Actimize, the Actimize logo, NICE, and the NICE logo are trademarks or
registered trademarks of NICE Systems. All other marks are trademarks of their respective
owners. For a full list of NICE Systems' marks, please see:
http://www.nice.com/nice-trademarks.
About Meta Financial Group, Inc.
Meta Financial Group, Inc. (NASDAQ: CASH) is the holding company for its wholly-owned
subsidiary MetaBankTM. MetaBank is a federally-chartered savings bank with four market
areas: Northwest Iowa Market, Brookings Market, Central Iowa Market, Sioux Empire Market;
and the Meta Payment Systems prepaid card division. Twelve retail banking offices and one
administrative office support customers throughout northwest and central Iowa, and in
Brookings and Sioux Falls, South Dakota.
Press Contacts:
Cindy Morgan-Olson
+1-212-851-8842
NICE Actimize
cindy.morgan-olson@actimize.com [rhiannon.staples@actimize.com ]
Investors:
Marty Cohen
+1-212-574-3635 (ET)
Anat Earon-Heilborn
+972-9-775-3798 (CET)
NICE Systems Ltd.
ir@nice.com
NICE Systems Ltd.
MetaBank has adopted Actimize's anti-money laundering (AML) solutions to ensure compliance, detect suspicious activity, and reduce operational costs
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."
NICE Actimize financial crime solutions provide a common technology and business
framework for full-lifecycle prevention and detection, investigation, reporting, and
remediation of financial crime. With its customer-centric, enterprise-wide financial crime
prevention capabilities, NICE Actimize enables financial institutions to address money
laundering risks, as well as new and emerging fraud threats, to streamline processes, and
to better serve customers.
Each of the NICE Actimize solutions used at MetaBank can be easily integrated into a
larger enterprise financial crime framework. NICE Actimize solutions share a common
technology platform, which offers IT cost benefits, operational efficiencies, and
performance benefits when compared to integrating disparate systems.
About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk and
compliance solutions for regional and global financial institutions, as well as government
regulators. Consistently ranked as number one in the space, NICE Actimize experts apply
innovative technology to protect institutions and safeguard consumers and investors assets
by identifying financial crime, preventing fraud and providing regulatory compliance. The
company provides real-time, cross-channel fraud prevention, anti-money laundering
detection, and trading surveillance solutions that address such concerns as payment fraud,
cyber crime, sanctions monitoring, market abuse, customer due diligence and insider
trading. Find us at http://www.nice.com/actimize, @NICE_Actimize or NASDAQ:NICE.
About NICE Systems
NICE (NASDAQ: NICE) is the worldwide leader of software solutions that deliver
strategic insights by capturing and analyzing mass quantities of structured and
unstructured data in real time from multiple sources, including phone calls, mobile apps,
emails, chat, social media, and video. NICE's solutions enable organizations to take the
Next-Best-Action to improve customer experience and business results, ensure compliance,
fight financial crime, and safeguard people and assets. NICE solutions are used by over
25,000 organizations in more than 150 countries, including over 80 of the Fortune 100
companies.
Trademark note: Actimize, the Actimize logo, NICE, and the NICE logo are trademarks or
registered trademarks of NICE Systems. All other marks are trademarks of their respective
owners. For a full list of NICE Systems' marks, please see:
http://www.nice.com/nice-trademarks.
About Meta Financial Group, Inc.
Meta Financial Group, Inc. (NASDAQ: CASH) is the holding company for its wholly-owned
subsidiary MetaBankTM. MetaBank is a federally-chartered savings bank with four market
areas: Northwest Iowa Market, Brookings Market, Central Iowa Market, Sioux Empire Market;
and the Meta Payment Systems prepaid card division. Twelve retail banking offices and one
administrative office support customers throughout northwest and central Iowa, and in
Brookings and Sioux Falls, South Dakota.
Press Contacts:
Cindy Morgan-Olson
+1-212-851-8842
NICE Actimize
cindy.morgan-olson@actimize.com [rhiannon.staples@actimize.com ]
Investors:
Marty Cohen
+1-212-574-3635 (ET)
Anat Earon-Heilborn
+972-9-775-3798 (CET)
NICE Systems Ltd.
ir@nice.com
NICE Systems Ltd.