NICE Actimize Positioned in Leaders Quadrant in Analyst Firm’s 2011 Magic Quadrant for Web Fraud Detection
Systems (NASDAQ:NICE) company and the largest and broadest provider of a
single financial crime, risk and compliance software platform for the
financial services industry, today announced that it has been positioned by
Gartner, Inc. in the Leaders Quadrant in the analyst firm’s “2011 Magic
Quadrant for Web Fraud Detection” report.
The web fraud detection market picked up rapidly and grew about 35 % in
2010. This followed a year of rapid growth in malware-based attacks, and many
companies purchased Web fraud detection solutions from the vendors in this
market after they experienced malicious attacks. Gartner estimates that the
Web fraud detection market grew from about
million
“Demand for Web fraud detection software and services are at an all-time
high. Hackers and criminals continue attacking financial services and retail
firms, and are increasingly reaching into other sectors,” said
Vice President and Distinguished Analyst at Gartner, Inc., author of the
report. “This has put a wide variety of enterprises across the globe on alert
that they need better protection for their accounts and information.”
Litan also noted that banking trojans, such as Zeus, are spreading across
the globe, circumventing strong user authentication, such as dedicated
one-time-password tokens, and succeeding in pilfering the accounts of
customers – typically belonging to small businesses – often stealing hundreds
of thousands of dollars at a time.
Designed to detect, prevent and resolve fraud attacks targeting
commercial and retail customers, NICE Actimize’s web fraud solutions perform
in real time by leveraging techniques such as monitoring and profiling
payment and account maintenance activities, session and authentication
behaviors, and cross-channel analysis of customer interaction. Built upon a
shared core technology platform, NICE Actimize’s web fraud detection
solutions have been chosen by many of the world’s largest financial
institutions to prevent fraud for retail and commercial customers, and have
been proven to deliver a rapid return on investment through both decreased
operational costs and reduced fraud losses.
The Leaders Quadrant contains security vendors that have well-established
records in various types of use cases. They have earned high scores from
their customers for their risk scoring and their ability to effectively stop
fraud, while minimizing inconvenience to end users. These vendors are
well-capitalized, and financially and organizationally stable enough to
expand through acquisitions, global marketing and business development
efforts.
Additionally, those included in the Leaders Quadrant also have a
commitment to staying in and winning in this market, and to developing their
products and services to meet evolving customer needs. They have also
demonstrated that they can support markets in different parts of the world,
other than their home countries. Still, even these market leaders have much
work to do in improving their products and services, customer support, sales
and marketing strategies.
“We are proud to be positioned in the Leader’s Quadrant, and are
confident that we will remain at the forefront of the financial crime and
compliance markets by continuing to deliver innovative and effective
solutions to our clients,” said Amir Orad, president and chief executive
officer of NICE Actimize. “As we spend time with our clients evaluating these
online risks, we observe that targeted online attacks against banks and other
financial institutions are accelerating. In response, we continue to invest
heavily to address these newest threats, and our real-time, cross-channel
anti-fraud solutions are working effectively to fight these specific types of
financial crime.”
The full Gartner report is available, compliments of NICE Actimize, at
http://www.actimize.com/gartnerwebfraud.
About the Magic Quadrant
The Magic Quadrant is copyrighted
reused with permission. The Magic Quadrant is a graphical representation of a
marketplace at and for a specific time period. It depicts Gartner’s analysis
of how certain vendors measure against criteria for that marketplace, as
defined by Gartner. Gartner does not endorse any vendor, product or service
depicted in the Magic Quadrant, and does not advise technology users to
select only those vendors placed in the “Leaders” quadrant. The Magic
Quadrant is intended solely as a research tool, and is not meant to be a
specific guide to action. Gartner disclaims all warranties, express or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
NICE Actimize, a NICE Systems company, is the world’s largest and
broadest financial crime, risk and compliance solutions provider. The company
provides real-time and cross-channel fraud prevention, anti-money laundering,
enterprise investigations, risk management and trading surveillance solutions
built upon a single flexible software platform. Implemented by the majority
of the world’s largest financial institutions, including all of the top 10
banks, the company’s solutions enable clients to mitigate financial crime
risk, improve compliance, and reduce operational costs.www.actimize.com.
About NICE Systems
NICE Systems (NASDAQ:NICE) is the worldwide leader of intent-based
solutions that capture and analyze interactions and transactions, realize
intent, and extract and leverage insights to deliver impact in real time.
Driven by cross-channel and multi-sensor analytics, NICE solutions enable
organizations to improve business performance, increase operational
efficiency, prevent financial crime, ensure compliance, and enhance safety
and security. NICE serves over 25,000 organizations in the enterprise and
security sectors, representing a variety of sizes and industries in more than
150 countries, and including over 80 of the Fortune 100 companies.
http://www.nice.com.
Trademark note: Actimize, the Actimize logo, 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.
Forward-Looking Statements
This press release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements, including the statements by Mr. Orad, are based
on the current expectations of the management of NICE-Systems Ltd.(the
Company)only, and are subject to a number of risks and uncertainties that
could cause the actual results or performance of the Company to differ
materially from those described herein, including but not limited to the
impact of the global economic environment on the Company’s customer base
(particularly financial services firms) and the resulting uncertainties;
changes in technology and market requirements; decline in demand for the
Company’s products; inability to timely develop and introduce new
technologies, products and applications; difficulties or delays in absorbing
and integrating acquired operations, products, technologies and personnel;
loss of market share; pressure on pricing resulting from competition; and
inability to maintain certain marketing and distribution arrangements. For a
more detailed description of the risk factors and uncertainties affecting the
company, refer to the Company’s reports filed from time to time with the
Securities and Exchange Commission, including the Company’s Annual Report on
Form 20-F. The forward-looking statements contained in this press release are
made as of the date of this press release, and the Company undertakes no
obligation to update or revise them, except as required by law.
For Immediate Release
Press Contacts:
Cindy Morgan-Olson
NICE Actimize
+1-212-851-8842
cindy.morgan-olson@actimize.com
Investors:
Anat Earon-Heilborn
NICE Systems Ltd.
+1-877-245-7449
ir@nice.com
SOURCE Nice Systems Ltd.