Renaissance Capital Fully Implemented Actimize, a NICE Company, Anti-Money Laundering and Market Abuse Solutions
of transactional risk management software for the financial services industry
and a NICE Systems company (NASDAQ:NICE), today announced that Renaissance
Capital, a major emerging markets investment bank, has fully implemented its
Anti-Money Laundering (AML) and market abuse solutions to comply with strict
FSA and Russian regulations and to automate, streamline and drive down the
costs of its enterprise compliance enforcement, gaining lower
total-cost-of-ownership (TCO).
“Before, we used a number of manual checks and processes to monitor
transactions, but these methods were too complicated, time consuming and
simply weren’t sufficient for our auditors. After conducting due diligence on
ten vendors, we chose Actimize, since it provides the best overall solutions
for our requirements,” explained
Renaissance Capital. “Our business processes and trading schemes are
different from those of typical banks and can present challenges when
tracking suspicious activities. However, as a result of Actimize experience
with dozens of other institutions, we managed to test the solution on site in
a week early in the selection process, which ended with us benefiting from a
fully-functioning Actimize solution within five business days.”
Renaissance Capital, founded in 1995 as a
delivers innovative financial and investment solutions to government,
corporate and institutional clients in high-opportunity emerging markets
around the world. It has expanded significantly to become the pre-eminent
specialist in emerging markets, with a presence in Sub-Saharan Africa, the
firm also offers its clients access to these markets through financial
centres such as
“Working on a single risk platform makes it easy for our compliance staff
to track and monitor alerts. If there is a compliance issue we definitely
know about it,” added Klepikov. “We needed to implement a rigorous Market
Abuse solution to keep us in compliance with the newly introduced Russian
requirements. Actimize’s single platform makes this relatively simple to
deploy and provides us with the insight and knowledge that we require.”
Actimize’s solutions enable compliance and risk managers to manage a
complete surveillance program on a single platform. The AML solution
addresses requirements such as those defined in the Third Money-Laundering
Directive, from account opening, watch list filtering and activity
monitoring, to case management, oversight and reporting. The Market Abuse
solution monitors and detects dozens of different issues from potential
market manipulation, and insider dealings to other market abuse issues and
automatically generates alerts. The system uses several analytical methods to
assign priority scores to alerts, thus improving the efficiency of
regulators, trading managers and compliance staff. Built on a single,
integrated platform, the Actimize solution enables institutions to add
additional different compliance and fraud solutions over time, while
retaining the same analytical tools, data layer, investigation and case
management interface, dashboard, audit tracking and other functions.
“We are extremely happy that Renaissance Capital is successfully
leveraging our solutions and platform to not only adhere to compliance
demands, but also stay one step ahead of its competitors,” said Bruno Piers
de Raveschoot, Vice President and Head of Actimize Europe. “With our AML and
market abuse solutions, Renaissance Capital can identify suspicious behavior
more effectively, streamline its processes and enhance efficiency as well as
protect itself against the repercussions of reputational and financial losses
that may be incurred from different compliance issues.”
About Renaissance Capital
Renaissance Capital is a leading investment banking firm in
CIS, sub-Saharan Africa and in other high-opportunity emerging markets.
Renaissance Capital has market-leading positions in each of its core
businesses — M&A, equity and debt capital markets, securities sales and
trading, research, and derivatives. Renaissance Capital is part of the
Renaissance Group. For more information, go to http://www.rencap.com.
About Actimize
Mitigating transactional risk across enterprise silos, Actimize is a
leading provider of software solutions for anti-money laundering, brokerage
compliance and fraud prevention. Built on a patented, scalable and extensible
analytics platform, Actimize solutions enable financial institutions to
increase their insight into real-time customer behaviour and improve risk and
compliance performance. Actimize technology processes billions of
transactions a day for many of the world’s top banks and brokerages.
Actimize, a NICE Systems company, has offices in
About NICE
NICE Systems (NASDAQ:NICE) is the leading provider of Insight from
Interactions(TM) solutions and value-added services, powered by advanced
analytics of unstructured multimedia content – from telephony, web, radio and
video communications. NICE’s solutions address the needs of the enterprise
and security markets, enabling organizations to operate in an insightful and
proactive manner, and take immediate action to improve business and
operational performance and ensure safety and security. NICE has over 24,000
customers in more than 150 countries, including more than 85 of the Fortune
100 companies. More information is available at http://www.nice.com.
Press Contact:
Jonathan Stotts
Actimize
+1-212-994-3865
jonathan.stotts@actimize.com
Investors:
Daphna Golden
NICE Systems Ltd.
+1-877-245-7449
daphna.golden@nice.com
SOURCE Nice Systems Ltd.