Jun.25, 2010, 9:56 AM, Source: Datamonitor

Danish Saxo Bank is implementing a securities-specific, enterprise-wide anti-money laundering suite from Nice Actimize, a Nice Systems company and a provider of financial crime, risk and compliance software platform. The bank will deploy Actimize's suspicious activity monitoring, know your customer and customer due diligence and watch list filtering solutions.

Once deployed across the bank's operations in Denmark and across its European and Asian businesses, Saxo Bank is expected to have a fully automated enterprise-wide platform supporting anti-money laundering (AML) strategy and compliance.

Nice Actimize provides an integrated AML solution suite, including transaction monitoring, watch list filtering, sanctions monitoring and know your customers and customers due diligence, to help financial institutions comply with AML rules and guidelines from regulators around the world.

Henrik Alsoe, senior vice president of Saxo Bank, said: "Saxo Bank required an AML platform that is flexible enough to grow quickly with the firm as it expands into new regions and businesses. After an extensive review of the available AML solutions, we determined that Nice Actimize's solutions would be the best fit for Saxo Bank. We needed a solution that provides comprehensive coverage and can be deployed quickly to help us manage our AML compliance risk. The Nice Actimize solutions provide us with the best out-of-the-box AML coverage and the flexibility to grow with our firm over time as well as adapt to changing regulations."