Yodlee Fights Online Payment Fraud Using Actimize, a NICE Company, Real-Time Analytics Technology
Yodlee, a leading provider of personal financial management (PFM) and payments solutions, today announced that following careful due diligence it has selected and partnered with Actimize, the largest and broadest financial crimes, compliance and risk management solutions provider to the financial services industry and a NICE systems company
Used by many of the world's top financial institutions, Actimize's banking and payment fraud prevention solutions are built on a single, scalable platform that is proven to detect, identify, and prevent fraud across channels and financial products in real time, stopping losses before they occur.
Yodlee plans to deploy Actimize's real-time analytics technology within Yodlee BillPay and Yodlee FundsTransfer to enhance the existing risk management systems and processes that Yodlee currently utilizes. Actimize will enable even higher levels of fraud monitoring and prevention for both "risk-based" and "good funds" payments models. The Yodlee BillPay suite includes Yodlee PayItAll (complete, pay-everyone solution), Yodlee DirectPay (revenue-generating card based payments), and Yodlee PayToday (fee-based, guaranteed same-day payments). The Yodlee BillPay suite gives consumers a more flexible, comprehensive, and intuitive bill pay experience while giving financial services companies full visibility and control over the payments process and unique revenue generating opportunities in an otherwise expense driven product category.
"With the speed and convenience of online and mobile payments comes increased risk of fraud for consumers and financial institutions," said Peter Hazlehurst, SVP of Products at Yodlee. "Working with Actimize, we will strengthen Yodlee's risk management capabilities in the prevention and detection of fraud for both our batch and real-time payments and transfers. This partnership is another milestone in Yodlee's history of commitment to leveraging leading technology to protect data security and reduce risk for the rapidly growing online commerce world."
"Yodlee went through a careful due diligence process to ensure they offer their clients the industry's most flexible and effective fraud prevention technology across the different payment channels," says Amir Orad, EVP and CMO at Actimize. "Yodlee was looking for proven real-time fraud prevention capabilities with out-of-the box analytics and we are proud to be their partner of choice."
For more information, log on to www.Yodlee.com. About Yodlee
Leading financial institutions and portals trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee's proven personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new deposit and revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 11,000 account sources and over 100,000 different account types. More than 100 leading financial institutions and portals offer Yodlee-powered solutions to millions of customers worldwide. Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.
Mitigating transactional risk across enterprise silos, Actimize is a leading provider of software solutions for anti-money laundering, brokerage compliance and fraud prevention. Built on a patented, scalable and extensible analytics platform, Actimize solutions enable financial institutions to increase their insight into real-time customer behaviour and improve risk and compliance performance. Actimize technology processes billions of transactions a day for many of the world's top banks and brokerages. Actimize, a NICE Systems company, has offices in New York, Israel, London and Tokyo. For more information, go to www.actimize.com.
Yodlee is a registered trademark of Yodlee, Inc. All other products and services mentioned are the property of their respective owners.
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SOURCE: Yodlee, Inc.
CONTACT: Erin Mitchell of RLM Public Relations, +1-212-741-5106 x233,
Web Site: https://www.yodlee.com/