Actimize Employee Fraud Prevention Software Chosen by Lloyds TSB.First UK Retail Bank Using Third Generation Analytics-Based Anti-Fraud Solution to Protect Customers from Internal Threats NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Actimize, the leading provider of transactional risk management software for the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, today announced that Lloyds TSB Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. has selected its Employee Fraud prevention solution to improve the protection of customer and bank assets within its retail banking business. Three of the top five US banks rely on Actimize fraud solutions, but Lloyds TSB will be the first UK retail bank to implement Actimize's new Employee Fraud prevention solution. Employee fraud was cited as "one of the most serious threats" by the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. (FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) ), "whether arising from collusion, coercion, infiltration or existing employee action." Actimize's new Employee Fraud solution represents a third generation of technology used to mitigate internal threats. First generation solutions typically involve manual searches, while second generation solutions use technology to automatically run defined queries. Third generation solutions, like Actimize Employee Fraud, run complex and intelligent analytics against multiple data sources across the enterprise and mine data for expected and unexpected patterns. Bob Spencer Bob Spencer (born 1957) played guitar in the 1970s Australian rock band "Skyhooks" and later the 1980s Australian rock band The Angels. Bob grew up in Sydney's South-Eastern suburbs. , Head of Group Financial Crime at Lloyds TSB said: "We pride ourselves on our ability to protect our customers from all types of threats, no matter where they come from. The Actimize Employee Fraud solution reinforces the Bank's investment in securing both customer and Bank assets." "According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a leading analyst firm, over 60 percent of fraud is committed by employees," says Bruno Piers de Raveschoot, Director of Europe, Actimize. "Lloyds TSB is leading the way for other UK financial institutions to address this important issue with best of breed technology that automates the detection and prevention of questionable behaviour." About Actimize Mitigating transactional risk across enterprise silos, Actimize is a leading provider of software solutions for anti-money laundering Anti-money laundering ("AML") is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. , brokerage compliance, customer due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. 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 behavior and improve risk and compliance performance. Six of the top 10 global banks and eight of the top 10 U.S. brokerages use Actimize solutions to process hundreds of millions of transactions a day. Actimize has offices in New York, Israel, London and Tokyo. For more information, go to www.actimize.com. About Lloyds TSB Lloyds TSB is one of the UK's largest financial services providers. It has 16 million customers, 67,000 staff, nearly 2,000 branches and over 4,000 ATMs across the UK. Lloyds TSB.com is the UK's most visited financial services website and Lloyds TSB's Internet banking service has over 4 million registered users. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion