NICE Actimize, a NICE Systems (News - Alert) company, is one of the leading providers of single financial crime, risk and compliance software platforms for the financial services industry. The company recently announced that its Remote Banking Fraud solution has been extremely successful in helping Malaysia's CIMB Bank to reduce fraud losses.

The Actimize Remote Banking Fraud solution found and stopped 51 confirmed cases of fraud, preventing an estimated loss of approximately US$200,000 within the first 30 days of its implementation. Based on reports from CIMB, the fraud solution has also helped to detect and foil a number of other cases.

Peter England, head of Retail Financial Services at CIMB, said that "CIMB Bank is constantly looking for ways to improve customer confidence while using its CIMB Clicks remote banking service. We believe that implementing the solution from NICE Actimize will instill greater confidence in our customers in banking with us online.”

NICE Actimize formed a partnering with Unisys (News - Alert) to implement the solution and then sold the Actimize Remote Banking Fraud solution to CIMB in 2010. The implementation was successfully completed in January 2011 and is now being effectively used to detect fraud in online transactions, and covers over 1.5 million active customer accounts.

The Actimize Remote Banking Fraud solution offers high-volume, cross-channel transaction monitoring across a number of remote channels such as the web, phone, mobile and even more. The solution helps institutions to find and thwart fraudulent activities with online authentication, session monitoring, and transaction monitoring.

Bruno Piers de Raveschoot, General Manager, Asia Pacific, NICE Actimize said that "The Actimize Remote Banking Fraud solution is a valuable tool for fighting remote banking fraud patterns by quickly identifying specific types of fraud, thereby boosting return on investment and protecting the bank's reputation. As we expand our presence throughout the Asia-Pacific region, we are pleased to confirm that we offer this enriched remote-banking fraud solution that catches fraud in real-time, prevents fraud attempts while allowing the customer to execute legitimate transactions, and efficiently balances both business fraud risk and customer impact."

If you would like to find out more information, about Actimize Remote Banking Fraud solution, please go to www.actimize.com.