Actimize, Inc., a wholly owned subsidiary of NICE Systems, provides financial crime prevention, compliance and risk management products and services to the financial services industry. Primarily headquartered in New York City, United States, Actimize sells its software to firms and regulators worldwide. Its revenue is expected to cross the $100 million mark in 2010. Service providers and channel partners include Checkfree, FNIS, MasterCard, Pershing, IBM and Unisys.
NICE Actimize has core offerings across all financial crime prevention and compliance areas built on a unified reporting and case management platform. Actimize is known for its use of analytics and modeling techniques that uncover anomalous financial transactions, like fraud, money laundering and market manipulation.
Additionally, NICE Actimize provides Know Your Customer/Client Due Diligence (KYC-CDD), FATCA compliance and Enterprise Risk Case Manager solutions.
NICE Actimize has more than 300 clients including all top 10 global banks and many financial services industry regulators. Customers include Bank of America, Barclays, BB&T, Citi, Capitalone, Comerica, CFTC, HSBC, MasterCard, Capital One, E*Trade Financial Corporation, Mizuho, RBS, Amundi, Société Générale, The Vanguard Group, UBS and Morgan Stanley.
As an example, banks use Actimize card fraud prevention solutions to block fraudulent credit card transactions as they occur, whether at a point of sale, automated teller machine, online or over the phone. Similarly, financial institutions and securities trading firms also use Actimize products to uncover suspicious transactions that may indicate illegal money laundering and capital market manipulation.
In 1999, Actimize was founded in Silicon Wadi, an area with a high concentration of high-tech industries in the coastal plain in Israel, similar to Silicon Valley in California by Israeli ex-army colleagues who specialized in business intelligence and data warehousing. The company focused its attention on building packaged trading compliance, anti-money laundering and fraud prevention software solutions for the financial services industry. Actimize was acquired by NICE Systems (NASDAQ: NICE) in July 2007 for $280 million and has grown into one of three of NICE’s main lines of business.
NICE Systems shares are traded on NASDAQ as well as on the Tel Aviv Stock Exchange; where it is part of the TA-25 Index. NICE Total cash and equivalents as of December 31, 2009 were $548.5 million, with no debt.
In June 2009, Actimize acquired the assets of Syfact, a pioneer in enterprise investigative case management solutions. Actimize acquired rival anti-money laundering software vendor Fortent for $73.5 million in August 2009. In October 2008, Actimize acquired ATM and debit card fraud detection models, analytics technology and a data consortium with billions of ATM / debit transactions from BasePoint.
Actimize has been named Most Innovative Anti-Money Laundering (AML) Solution Provider by Financial-i magazine, rated as the only "Strong Positive" in Gartner's MarketScope for Enterprise Fraud Management, ranked atop Gartner’s Magic Quadrant for Web Fraud Detection two years in a row, identified by Datamonitor as the only financial crimes vendor out of 29 reviewed with core competencies across all AML and fraud detection areas, named as a ‘Leader’ in Celent's "Automated Wealth Management Compliance Solutions" report for its Sales Practices solution, with high score for "breadth of functionality", "advanced technology", "largest live client base" and "depth of client services" and Bank Technology News recognized Actimize as a "Top 25 Innovator" for its Insider Fraud solution.