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NICE Company Makes Gartner's Magic Quadrant for Web Fraud Detection

March 04, 2009

NICE Systems company Actimize, a provider of transactional risk management software for the financial services industry, announced it was positioned in the Leaders Quadrant in the Magic Quadrant for Web Fraud Detection report by Gartner.
This is the first time Gartner (News - Alert) has compiled this report which provides a graphical representation of the marketplace and includes the company's analysis of vendors and how they measure up to criteria.
This latest report was compiled as the need for regulation and control over cyber attacks has arisen. In the report, Gartner highlights the criteria that should be considered when evaluating solutions for fraud detection as well as looks to the types of fraud detection, and additional features.
“Driven by regulations and increasing cyber attacks, the Web fraud detection market has undergone rapid growth and consolidation during the past three years,” says Avivah Litan, distinguished analyst at Gartner.
“Innovation is critical in this market to keep pace with difficult-to-predict cyber attacks that increasingly navigate across multiple customer service channels and the Web.”
Actimize provides software solutions for anti-money laundering, brokerage compliance and fraud prevention. The company is able to increase insight into customer behavior in real-time through a patented, scalable and extensible analytics platform, this helps organizations to improve risk as well as compliance.
“We feel that Gartner’s evaluation of Actimize in its recent Magic Quadrant validates our overall market position and the value we deliver to our clients on a daily basis,” said David Sosna, CEO of Actimize. 
“Actimize will continue to be at the forefront of innovation by developing and delivering the most robust technology platform and solutions to help combat financial crime. Our commitment to these core goals is the reason that so many of the world’s largest financial services firms select the Actimize solutions.”
The company was also recently recognized by market analysis and BI company Datamonitor, who uncovered evidence that banks today are looking more and more to an enterprise view of compliance and fraud risk, and that Actimize is the "only vendor" out of the 29 they reviewed, that has core-offerings across all AML and anti-fraud areas.

Stefania Viscusi is an assignment editor for TMCnet, covering VoIP, CRM, call center and wireless technologies. To read more of Stefania’s articles, please visit her columnist page.

Edited by Stefania Viscusi
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