NICE deploys anti-fraud system at Malaysia's CIMB Bank

The system detected and stopped 51 confirmed cases of fraud, preventing an estimated loss of $200,000, within 30 days of implementation.

NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) subsidiary Actimize Inc. has deployed its remote banking fraud solution at Malaysia's CIMB Bank (MYX :1023). The company did not disclose the size of the deal, but said that the system detected and stopped 51 confirmed cases of fraud, preventing an estimated loss of $200,000 within 30 days of implementation.

NICE Actimize sold the Actimize Remote Banking Fraud solution to CIMB in 2010, and completed the installation in January 2011. The solution is detecting fraud in online transactions targeting more than 1.5 million active customer accounts.

NICE Actimize Asia Pacific general manager Bruno Piers de Raveschoot said, "As we expand our presence throughout the Asia-Pacific region, we are pleased to confirm that we offer this enriched remote-banking fraud solution that catches fraud in real-time, prevents fraud attempts while allowing the customer to execute legitimate transactions, and efficiently balances both business fraud risk and customer impact."

NICE's share price fell 1.5% in early trading on Nasdaq today to $36.60, giving a market cap of $2.33 billion, after falling 1.3% on the TASE to NIS 126.10.

Published by Globes [online], Israel business news - www.globes-online.com - on July 11, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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