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Bank Of Ireland Chooses NICE System's Crime Protection Solution

By Juliana Kenny, TMCnet Web Editor

NICE's Enterprise Risk Case Manager, Card Fraud, and Anti-Money Laundering solutions have been chosen by Bank of Ireland to enhance its financial crime control. As a provider of financial crime, risk, and compliance software, NICE Systems (News - Alert) will integrate its software into Bank of Ireland's existing infrastructure to deploy for risk minimizing and enhanced regulatory compliance.

Dermot Mullen, divisional risk partner at the Bank of Ireland, stated, "The implementation of NICE Actimize's solutions is an example of our institution's commitment to staying ahead of financial crime activity. Banks that invest in technology to protect their customers simply run more efficient businesses and reduce their operational losses."

The Bank of Ireland has been forced to respond to the rising regulatory pressure and growing fraud and AML threats, and turned to NICE Systems for its internationally renowned security management software. Incorporating NICE's software will enable the Bank of Ireland to "obtain a more holistic view of financial crime risk across the enterprise," according to the company.

Amir Orad, president and chief executive officer of NICE Actimize, stated, "We are pleased to add Bank of Ireland to our growing European, and global, customer base. In today's highly competitive business climate, institutions such as Bank of Ireland recognize that effective financial crime management has a great impact on banks' operational effectiveness and profitability."

By adopting NICE's modern solution, Bank of Ireland will be able to adapt to the evolving financial crime and regulatory landscape which is constantly changing with new compliance rules.

Orad continued, "NICE Actimize's technology will help us to build upon existing preventative measures and to detect potential illicit behavior early on by providing Bank of Ireland with additional ability to monitor activity occurring within and across different segments of our organization. Further, the flexibility of NICE Actimize's platform will enable us to easily adapt as new regulations are enacted."