The Actimize Brokerage Compliance Market Abuse solution will help the French bank bank mitigate the risk of market manipulation.
NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) subsidiary Actimize Ltd. is installing its solutions at Credit Agricole Group SA (Euronext: ACA) unit Credit Agricole Titres, which serves as a custodian for the company's retail banking operation. The solutions will enable the bank to comply with the Market Abuse Directive, especially with regard to identifying and pursuing insider dealings. The size of the deal was not disclosed.
Actimize will provide Credit Agricole Titres with its Brokerage Compliance Market Abuse solution, which will help the bank mitigate the risk of market manipulation. The system will be installed throughout the bank's retail and private banking and fund management operations in France. The Actimize solution uses analytical models to monitor and detect suspicious transactions, and automatically distributes targeted alerts within an intuitive case management system directly to the relevant retail banking branch and users within the company.
Actimize Europe VP Bruno Piers de Raveschoot said, "Credit Agricole Group joins our strong European client base that are standardizing on Actimize solutions for enterprise-wide compliance management and fighting financial crime."
Published by Globes [online], Israel business news - www.globes-online.com - on October 27, 2008
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