24.04.2007 13:17:00
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Zenith Bank Selects ACI for Enterprise Risk and Compliance
ACI Worldwide (NASDAQ:TSAI), a leading international provider of
enterprise payment solutions, today announced that Zenith Bank Plc, a
leading West African Bank based in Lagos, Nigeria, has selected ACI
Proactive Risk ManagerTM software to automate
its procedures in order to comply with the national Money Laundering
Prohibition Act of 2004.
Zenith Bank selected ACI Proactive Risk Manager for Anti Money
Laundering to detect suspicious activities quickly and effectively using
neural networks, rules-based strategies and workflow management
software. The solution is modular in design so it can be expanded to
include monitoring for issuer fraud and managing risk across the
enterprise, with an account-based view of transactions.
Nigeria’s Economic & Financial Crimes
Commission (EFCC) and its enforcement arm, the Nigerian Financial
Intelligence Unit (NFIA), have mandated that local banks comply with
international standards for reporting on suspicious transactions.
Proactive Risk Manager will help Zenith Bank comply with these
regulations by enabling the bank to detect suspicious activity in an
effective yet efficient manner. Staff from B2B Solutions, ACI’s
local partner, will be trained by ACI Worldwide to provide local first
line support.
Tunji Olanipekun, chief inspector of Zenith Bank Plc, said, "As
Zenith Bank continues to make significant gains in market share,
resulting in increases in transaction volumes, the need for a
sophisticated solution to automate our reporting procedures to the NFIU
was apparent. The reputation of ACI as a global leader in electronic
payment technology combined with the advanced functionality and
scalability of their Proactive Risk Manager software and the company’s
commitment to this market made them the ideal partner for Zenith Bank.
This implementation will lay the foundation for enhanced cardholder
protection.”
Steve Wright, president of ACI Worldwide EMEA, said, "We
are delighted that a leader in their market trusts ACI to help them meet
the requirements of the EFCC. Zenith Bank is the second customer in
Nigeria, along with Access Bank, to license our Proactive Risk Manager
software. ACI will continue to invest in building our business in Africa
as the payments industry matures.” About Zenith Bank
Visit Zenith Bank on the Internet at www.Zenithbank.com About ACI Worldwide
Every second of every day, ACI solutions are at work processing
electronic payments, managing risk, automating back office systems and
providing application infrastructure services. Founded in 1975, ACI is a
leading international provider of solutions for consumer and wholesale
banking, retail and cross-industry systems. ACI serves more than 800
customers in 84 countries including many of the world's largest
financial institutions, retailers and payment processors. Visit ACI
Worldwide on the Internet at www.aciworldwide.com.
Any statements in this press release regarding projected results are
preliminary and "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. In addition, this
press release may contain other forward-looking statements including
statements regarding Transaction Systems Architects, Inc.’s
("TSA”), its
subsidiaries or third parties’ expectations,
predictions, views, opportunities, plans, strategies, beliefs, and
statements of similar effect. The forward-looking statements in this
press release are subject to a variety of risks and uncertainties.
Actual results could differ materially.
For a detailed discussion of these and other risk factors, interested
parties should review the Company's filings with the Securities and
Exchange Commission, including the Company’s
Form 10-K filed on December 14, 2005, the Company’s
Form 10Q filed on February 9, 2006, the Company’s
Form 10Q filed on May 10, 2006, and the Company’s
Form 10Q filed on August 9, 2006.
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