|By PR Newswire||
|January 15, 2013 07:00 AM EST||
NEW YORK, January 15, 2013 /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, announced today that the Actimize Card Fraud Solution has been successfully implemented by National ITMX, Thailand's interbank payment provider, providing real-time fraud detection for its 21 member banks. The implementation, fully completed in less than six months, detects fraud in ATM/debit card transactions and will be monitoring a total of nearly 70 million transactions per month.
The Actimize Card Fraud solution, which is part of the Actimize Integrated Fraud Management solutions suite, is being used by ITMX as part of its card fraud monitoring and detection system (CFMD) to monitor transactions in real time, protect its members from fraudulent transactions, and ensure consistent coverage across its member institutions while reducing financial losses and operational costs. In response to the strategic roadmap developed by the Bank of Thailand, National ITMX developed its proprietary framework - the ITMX System - to bring Thailand's electronic commerce and payment system up to international best practices and standards. Partnering with Stream I.T. Consulting Ltd. in Thailand, NICE Actimize licensed the Actimize Card Fraud solution to National ITMX earlier this year.
"Our business direction is to serve the country's strategic payment roadmap as initiated by the Bank of Thailand and, as such, it is our duty to ensure that our system is continually improving to cater to the needs of our members in the areas of new service development and customer satisfaction in terms of efficiency and added-value," said Wanna Noparbhorn, Managing Director at National ITMX.
She added, "We selected NICE Actimize's card fraud solution because we realized that we needed to add additional layers of security for our member institutions, as well as create greater awareness regarding fraud. Not only has our relationship with NICE Actimize and its partner, Stream I.T., been positive, but we can now offer a unique service to our members. It has been extremely beneficial to us to implement the NICE Actimize solution, as we have been able to know and understand our customers better, and the outcome has been rewarding."
"Our deep experience in helping financial institutions develop and execute unique and adaptable enterprise fraud mitigation strategies has enabled us to address National ITMX's challenges and offer a comprehensive solution to combat fraud for its member institutions that they can adapt and add to over time with additional capabilities," said Amir Orad, President and CEO of NICE Actimize. "The depth of our expertise, and breadth and flexibility of our card fraud detection technology, will enable the cardholders covered by Thailand's system to be protected and is expected to promote adoption of electronic payments in this fast-growing economy."
"At Stream, we worked closely with National ITMX and NICE Actimize to deliver rapid deployment of the Actimize Card Fraud solution," said Vichu Charuchandr, Managing Director at Stream I.T. Consulting Ltd. "In less than six months, we commenced real-time detection streaming through the CFMD System. The system is now live, servicing all 21 member banks operating in Thailand."
Actimize Integrated Fraud Management solutions deliver real-time, customer-centric fraud prevention that support a holistic, enterprise-wide fraud management program. The NICE Actimize Card Fraud Solution, which is part of the Actimize Integrated Fraud Management suite, provides robust fraud detection and case management capabilities to process high volume, real-time transaction scoring, decisioning, alerting and resolution for signature, ATM, PIN and card not present card transactions, efficiently preventing fraudulent usage. Leveraging proven analytics, user-friendly policy authoring and customer-specific fraud strategies, the NICE Actimize advanced solutions detect more fraud with lower false positive rates, while allowing customers continued use of cards for legitimate transactions.
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, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at http://www.nice.com/actimize.
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. http://www.nice.com.
Trademark Note: 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 National ITMX Co. Ltd
National ITMX Company limited was established to satisfy Thailand's requirement to keep up with continuing global advancement in electronic commerce and payment systems. Under direction from the Bank of Thailand, National ITMX is set up to be the key infrastructure and central data processing system that exchanges, manages, and processes data across member banks/organizations in order to support e-commerce, electronics fund transfer, etc. The system supports all kinds of electronic payments and funds transfer from various banks' channels including ATMs, Counters, Internet and mobile channels. To foster the interoperability among banks, the system created utilizing open platform that are secured, efficient, and has the ability to respond rapidly to the ever changing business environment, and bring Thailand's electronic payment system to the international level.
Stream I.T. Consulting Ltd. was established in November 1998 and is fast becoming one of the leading Systems Integration and IT consultancies in Thailand today. Since its foundation, the consultancy has earned a reputation as a reliable provider of strategic business systems for transactional banking and Fraud Management Solution to local clients and is known for its strengths particularly in the Banking and Telecom sectors. More information is available at http://www.stream.co.th
Florence V. Heynard
NICE Systems Ltd.
SOURCE NICE Systems Ltd.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Jul. 31, 2015 11:45 AM EDT Reads: 105
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Jul. 31, 2015 11:45 AM EDT Reads: 107
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Jul. 31, 2015 10:50 AM EDT
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Jul. 31, 2015 10:00 AM EDT Reads: 139
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Jul. 31, 2015 08:45 AM EDT Reads: 301
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Jul. 31, 2015 08:00 AM EDT Reads: 158
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Jul. 30, 2015 07:30 PM EDT Reads: 1,398
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Jul. 30, 2015 06:30 PM EDT Reads: 889
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Jul. 30, 2015 06:00 PM EDT Reads: 1,803
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Jul. 30, 2015 05:00 PM EDT Reads: 1,089
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
Jul. 30, 2015 04:00 PM EDT Reads: 2,204
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Jul. 30, 2015 03:45 PM EDT Reads: 450
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 30, 2015 03:00 PM EDT Reads: 1,741
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Jul. 30, 2015 03:00 PM EDT Reads: 487
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with ...
Jul. 30, 2015 02:30 PM EDT