Renaissance Capital Fully Implemented Actimize, a NICE Company, Anti-Money Laundering and Market Abuse Solutions
01 Juillet 2009 - 1:00PM
PR Newswire (US)
Investment Bank Leverages Actimize's Scalable Risk Management
Platform for Complying With FSA Regulations and for Automated,
Streamlined Compliance Enforcement With Lower TCO NEW YORK, July 1
/PRNewswire-FirstCall/ -- Actimize, a leading provider 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 Alexey Klepikov, Project Manager at
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 Moscow-based investment
bank, 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 Middle East, Russia and the CIS
(Commonwealth of Independent States). The firm also offers its
clients access to these markets through financial centres such as
London and New York. "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 Russia, the 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 New York, Israel, London and
Tokyo. For more information, go to http://www.actimize.com/. 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 Investors: Daphna Golden NICE Systems Ltd.
+1-877-245-7449 DATASOURCE: Nice Systems Ltd. CONTACT: Press
Contact: Jonathan Stotts, Actimize, +1-212-994-3865, ; Investors:,
Daphna Golden, NICE Systems Ltd., +1-877-245-7449,
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