Actimize
Encyclopedia
Actimize, a wholly owned subsidiary of NICE Systems
, provides financial crime prevention, compliance and risk management products and services to the financial services
industry. Primarily headquartered in New York City
, Actimize sells its software to all types of firms and regulators worldwide. Its revenue is expected to cross the $100 million mark in 2010.
Service providers and channel partners include Checkfree, FNIS, MasterCard
, Pershing
, IBM
and Unisys
.
Actimize is the "only vendor" with core offerings across all financial crime prevention and compliance areas built on a unified reporting and case management platform. Actimize is best known for its development and innovative use of sophisticated analytics
and modeling techniques that uncover anomalous financial transactions, like fraud
, money laundering
and market manipulation
.
, Barclays, BB&T
, Citi, Comerica
, CFTC
, HSBC
, MasterCard
, Mizuho
, RBS
, Amundi
, Société Générale
, The Vanguard Group
and UBS.
As an example, banks use Actimize card fraud prevention solutions to block fraudulent credit card transactions as they occur, whether at a point of sale
, automated teller machine
, online or over the phone. Similarly, financial institutions and securities trading firms also use Actimize products to uncover suspicious transactions that may indicate illegal money laundering
and capital market manipulation
.
, an area with a high concentration of high-tech industries in the coastal plain in Israel
, similar to Silicon Valley
in California
by Israeli ex-army colleagues who specialized in business intelligence
and data warehousing. The company quickly focused its attention on building packaged trading compliance, anti-money laundering and fraud prevention software solutions for the financial services industry. Actimize was acquired by NICE Systems (NASDAQ: NICE) in July 2007 for $280 million and has grown into one of three of NICE’s main lines of business.
NICE Systems shares are traded on NASDAQ
as well as on the Tel Aviv Stock Exchange
; where it is part of the TA-25 Index. NICE Total cash and equivalents as of December 31, 2009 were $548.5 million, with no debt.
In June 2009, Actimize acquired the assets of Syfact, a pioneer in enterprise investigative case management solutions. Actimize acquired rival anti-money laundering software vendor Fortent for $73.5 million in August 2009. In October 2008, Actimize acquired ATM and debit card fraud detection models, analytics technology and a data consortium with billions of ATM / debit transactions from BasePoint.
NICE Systems
NICE Systems Ltd. , together with its subsidiaries, provides solutions that enable enterprises and security organizations to extract insight from interactions, transactions and surveillance....
, provides financial crime prevention, compliance and risk management products and services to the financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
industry. Primarily headquartered in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, Actimize sells its software to all types of firms and regulators worldwide. Its revenue is expected to cross the $100 million mark in 2010.
Service providers and channel partners include Checkfree, FNIS, MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
, Pershing
Pershing LLC
Pershing LLC is a subsidiary of The Bank of New York Mellon, the nation's oldest continuously operating bank, and one of the world's leading providers of securities services. Pershing has nearly $1 trillion in assets under administration...
, IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
and Unisys
Unisys
Unisys Corporation , headquartered in Blue Bell, Pennsylvania, United States, and incorporated in Delaware, is a long established business whose core products now involves computing and networking.-History:...
.
Actimize is the "only vendor" with core offerings across all financial crime prevention and compliance areas built on a unified reporting and case management platform. Actimize is best known for its development and innovative use of sophisticated analytics
Analytics
Analytics is the application of computer technology, operational research, and statistics to solve problems in business and industry. Analytics is carried out within an information system: while, in the past, statistics and mathematics could be studied without computers and software, analytics has...
and modeling techniques that uncover anomalous financial transactions, like fraud
Fraud
In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation...
, money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
and market manipulation
Market manipulation
Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency...
.
Customers
Actimize has more than 200 clients including all top 10 global banks and many financial services industry regulators. Customers include Bank of AmericaBank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
, Barclays, BB&T
BB&T
BB&T Corporation is an American bank with assets of $157 billion , offering full-service commercial and retail banking services along with other financial services like insurance, investments, retail brokerage, mortgage, corporate finance, consumer finance, payment services, international...
, Citi, Comerica
Comerica
Comerica Incorporated is a financial services company headquartered in Dallas, Texas, USA. It has retail banking operations in Arizona, California, Florida, Michigan and Texas; and select business operations in several other U.S...
, CFTC
Commodity Futures Trading Commission
The U.S. Commodity Futures Trading Commission is an independent agency of the United States government that regulates futures and option markets....
, HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
, MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
, Mizuho
Mizuho Financial Group
, abbreviated as MHFG, or simply called Mizuho is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan...
, RBS
Royal Bank of Scotland
The Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...
, Amundi
Amundi
Amundi is a subsidiary jointly created by Société Générale and Crédit Agricole to regroup their activities of asset management. It was created in January 2010.As such it is the French leader of asset management.Amundi is owned 75% by Crédit Agricole S.A...
, Société Générale
Société Générale
Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La...
, The Vanguard Group
The Vanguard Group
The Vanguard Group is an American investment management company based in Malvern, Pennsylvania, that manages approximately $1.6 trillion in assets. It offers mutual funds and other financial products and services to individual and institutional investors in the United States and abroad. Founder...
and UBS.
As an example, banks use Actimize card fraud prevention solutions to block fraudulent credit card transactions as they occur, whether at a point of sale
Point of sale
Point of sale or checkout is the location where a transaction occurs...
, automated teller machine
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
, online or over the phone. Similarly, financial institutions and securities trading firms also use Actimize products to uncover suspicious transactions that may indicate illegal money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
and capital market manipulation
Market manipulation
Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency...
.
History
In 1999, Actimize was founded in Silicon WadiSilicon Wadi
Silicon Wadi is an area with a high concentration of high-tech industries in the coastal plain in Israel, similar to Silicon Valley in California, in the United States. Silicon Wadi is considered second in importance only to its Californian counterpart...
, an area with a high concentration of high-tech industries in the coastal plain in Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
, similar to Silicon Valley
Silicon Valley
Silicon Valley is a term which refers to the southern part of the San Francisco Bay Area in Northern California in the United States. The region is home to many of the world's largest technology corporations...
in California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
by Israeli ex-army colleagues who specialized in business intelligence
Business intelligence
Business intelligence mainly refers to computer-based techniques used in identifying, extracting, and analyzing business data, such as sales revenue by products and/or departments, or by associated costs and incomes....
and data warehousing. The company quickly focused its attention on building packaged trading compliance, anti-money laundering and fraud prevention software solutions for the financial services industry. Actimize was acquired by NICE Systems (NASDAQ: NICE) in July 2007 for $280 million and has grown into one of three of NICE’s main lines of business.
NICE Systems shares are traded on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
as well as on the Tel Aviv Stock Exchange
Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only stock exchange.The TASE is the only public market for trading securities in Israel. It plays a major role in the Israeli economy....
; where it is part of the TA-25 Index. NICE Total cash and equivalents as of December 31, 2009 were $548.5 million, with no debt.
In June 2009, Actimize acquired the assets of Syfact, a pioneer in enterprise investigative case management solutions. Actimize acquired rival anti-money laundering software vendor Fortent for $73.5 million in August 2009. In October 2008, Actimize acquired ATM and debit card fraud detection models, analytics technology and a data consortium with billions of ATM / debit transactions from BasePoint.