June 17, 2009 / 2:07 PM / 8 years ago

TEXT-Nice's Actimize acquires Syfact Business

(The following was issued by Israel’s Nice Systems (NICE.TA) (NICE.O), the parent of Actimize):

June 17 (Reuters) - NICE Systems (NASDAQ: NICE) and Actimize, a NICE Systems Company, today announced the acquisition of the assets of Syfact, a pioneer of enterprise investigative case management solutions.

Syfact’s expertise, technology and best practices will help Actimize customers further improve investigative operations, increase compliance with regulations and reduce overall operational costs.

The acquisition also enhances the joint company’s footprint and competitive position, providing immediate benefits for both Actimize and Syfact customers. Actimize intends to continue supporting current product installations and increase investment in Syfact’s product support program. This deal amounts to several million dollars.

“Financial services companies are continuing to invest in integrated, end-to-end enterprise fraud and case management technologies,” said George Tubin, senior research director at TowerGroup. “Enterprise case management is becoming critical for overall firm risk management and financial crime investigations.”

Syfact, headquartered in Europe with offices in North America, has been used by many of the world’s largest and most respected corporations, government agencies and financial institutions including, among others, ING and Rabobank.

The company provides innovative investigative case management solutions, best practices and technologies that simplify and enrich the most complex fraud, money laundering, customer due diligence and corporate security investigations.

In addition to robust and intuitive investigative tools, a key feature of Syfact’s solution is its ability to permanently store all types of investigative information in a single interlinked database that can be accessed, searched, linked and cross referenced during future investigations and cases.

“Syfact has a rich history as a pioneer of case management systems for investigation and prosecution of serious crimes,” says David Sosna, CEO of Actimize.

“Over the years, they have built tremendous expertise and best practices while solving some of the most complex investigative challenges. We are confident that this acquisition will compliment and expand upon Actimize’s enterprise financial crime platform. Both Actimize and Syfact clients will immediately benefit from our newly combined intellectual capital and range of technology solutions.”

Actimize’s financial crime and enterprise risk management solutions deliver proven end-to-end transactional monitoring, control and investigationcapability to large and mid-size financial institutions around the world. The Actimize Core Platform underpins all Actimize enterprise-wide fraud prevention, anti-money laundering, brokerage compliance and enterprise risk and case management solutions, supporting the full risk management lifecycle from modeling and execution to investigation and oversight. Syfact’s capabilities will be leveraged to enhance this product suite.

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