Actimize, a NICE Systems Company, to Implement Fraud and Anti-Money Laundering Solutions across the 700 United Bank for Africa (UBA) Retail Distribution Centres in Nigeria

3 December 2008

Actimize, a leading provider of transactional risk management software for the financial services industry and a NICE Systems company, today announced that United Bank for Africa Plc (UBA) will use its enterprise-wide fraud and anti-money laundering (AML) solutions to protect its global operations.

UBA, the largest banking group in West Africa, and a full service financial services institution, will be implementing the Actimize Risk Management platform with multiple fraud and AML solutions, and the Actimize Enterprise Risk Case Manager across its 700 retail distribution centres in Nigeria. The enterprise fraud prevention solutions will help UBA detect and mitigate ATM and debit card fraud, employee fraud, electronic payment fraud, as well as money laundering.

“The Actimize Solutions will take UBA’s fraud and illegal crime risk management capabilities to the next level, by utilizing state of the art analytical prevention tools in addition to merely detection, which is the norm in most banks,” said Andre Blaauw, group chief risk officer at UBA. “This will offer enhanced protection to the bank and its customers. When looking at the spectrum of vendors available, Actimize stands out for its proven cross-channel fraud solutions used by some of the largest financial institutions in the world. We have embarked on an ambitious transformation of our processes in the Governance, Risk and Compliance area. The Actimize Solutions will be among the enabling tools to ensure that change happens effectively.”

“Deploying Actimize solutions will not only help in Fraud and financial crime prevention; it will equally help boost the bank’s e-channel business and further strengthen the bank’s leadership position in the e-channel space as some of the limiting strings attached to e-channels in order to prevent fraud will be lifted; since we will have the capability to prevent e-channel fraud in real-time,” said Sam Okenye, group head, IT Risk Management at UBA. “Actimize innovative Risk Case Manager, integration and platform technology will be used across all solution packages, providing the bank a lower Total Cost of Ownership (TCO) while covering fraud prevention and compliance business needs in the most innovative way.”

“Actimize addresses fraud prevention from an enterprise-wide approach, using unique cross channel tools and techniques to drastically improve the ability to detect fraud schemes at its early stages, thus greatly minimising total fraud losses,” said Tal Noam, executive director EMEA at Actimize.

Regional partners DatagroupIT and ExpertEdge, promote and deploy Actimize solutions in Nigeria. James Agada, GM of ExpertEdge said, “The UBA deployment will be split into two phases over a period of several months, with some of the most innovative fraud and money laundering detection capabilities to be delivered both in Nigeria and internationally company-wide.”


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