Bank of America Selects Actimize Surveillance Solutions
1ACTIMIZE TRADING SURVEILLANCE SOLUTIONS SELECTED BY BANK OF AMERICA
Superior Flexibility and Ease of Deployment Instrumental in Purchase Decision
NEW YORK – May 23, 2006 – Actimize Inc., provider of enterprise technology solutions for fraud prevention and regulatory compliance, today announced that its Trading Surveillance Solutions offering was selected and has been in production at Bank of America since 2004. The implementation includes Actimize compliance solutions for equity trading, fixed income trading and sales practices.
As one of the largest financial services companies in the United States, Bank of America serves more than eight million households and businesses across the country and in select international markets. The company’s need for robust compliance solutions has increased with its rapid growth.
“No matter how fast or large our company grows, the compliance requirements must be met ” said Bucky Feagans, Managing Director of Compliance Risk Management Technology for Bank of America. “Through our due diligence process, we determined that Actimize’s Trading Surveillance Solutions offered a compliance methodology that could be rapidly deployed and that would provide a great deal of flexibility to fulfill the broad needs of our compliance processes as we continue to grow.”
The need for an efficient solution that can address immediate needs and is able to adapt and scale to address future regulatory and growth requirements is critical for many Financial Institutions.
One example of the efficiency the Actimize offering provides is the electronic Trade Blotter, which has improved efficiency and record retention by enabling supervisors to use an automated digital sign-off system. With improved efficiency in the daily review process, supervisors can spend more time focused on other supervisory or customer needs. Other industry-leading features that contribute to overall productivity include Link Analysis that graphically shows relationships between accounts and Integrated Case Manager for easy case set-up, tracking and resolution.
“The quality of our solutions—built to address the critical and complex issues financial institutions face today—is being used by a significant percentage of the world’s leading banks and brokerages, and we are proud to have Bank of America as a client,” stated David Sosna, President of Actimize. “Actimize solutions help increase our client’s productivity by making it easier to manage the challenges they face from ever-changing data, technologies, and regulations.”
NEW YORK – May 23, 2006 – Actimize Inc., provider of enterprise technology solutions for fraud prevention and regulatory compliance, today announced that its Trading Surveillance Solutions offering was selected and has been in production at Bank of America since 2004. The implementation includes Actimize compliance solutions for equity trading, fixed income trading and sales practices.
As one of the largest financial services companies in the United States, Bank of America serves more than eight million households and businesses across the country and in select international markets. The company’s need for robust compliance solutions has increased with its rapid growth.
“No matter how fast or large our company grows, the compliance requirements must be met ” said Bucky Feagans, Managing Director of Compliance Risk Management Technology for Bank of America. “Through our due diligence process, we determined that Actimize’s Trading Surveillance Solutions offered a compliance methodology that could be rapidly deployed and that would provide a great deal of flexibility to fulfill the broad needs of our compliance processes as we continue to grow.”
The need for an efficient solution that can address immediate needs and is able to adapt and scale to address future regulatory and growth requirements is critical for many Financial Institutions.
One example of the efficiency the Actimize offering provides is the electronic Trade Blotter, which has improved efficiency and record retention by enabling supervisors to use an automated digital sign-off system. With improved efficiency in the daily review process, supervisors can spend more time focused on other supervisory or customer needs. Other industry-leading features that contribute to overall productivity include Link Analysis that graphically shows relationships between accounts and Integrated Case Manager for easy case set-up, tracking and resolution.
“The quality of our solutions—built to address the critical and complex issues financial institutions face today—is being used by a significant percentage of the world’s leading banks and brokerages, and we are proud to have Bank of America as a client,” stated David Sosna, President of Actimize. “Actimize solutions help increase our client’s productivity by making it easier to manage the challenges they face from ever-changing data, technologies, and regulations.”
About Actimize
Actimize offers solutions for fraud prevention and regulatory compliance including anti-money-laundering, brokerage and banking compliance, brokerage surveillance, and risk monitoring and fraud prevention. Actimize provides surveillance and compliance monitoring for over $5 trillion in assets. Its customer base includes banks, brokerages, regulatory bodies, and government agencies. For more information about Actimize, visit our web site at www.actimize.com.
About Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 38 million consumer and small business relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 14 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 97 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
