New York-based Actimize has announced that Pennsylvania-based Vanguard, an investment management company, has installed its Remote Banking Fraud and Deposit Fraud solutions. Actimize said that the fraud prevention solutions are built on a single, scalable platform to detect, identify, and prevent fraud across channels and financial products.
The company claims that its Remote Banking Fraud solution provides high volume, cross-channel transaction monitoring across multiple remote channels including web, phone, and mobile. While its Deposit Fraud solution helps institutions minimize deposit fraud losses by providing account activity monitoring and a proprietary algorithm designed to analyze deposits and withdrawal activities.
Ellen Rinaldi, Principal and Head of information security at Vanguard, said: “Fraud is dynamic and migrates across various channels. With the addition of the Actimize solution to our risk management environment, we have strengthened our ability to detect and prevent fraud across channels. In the process, we are continuing to improve our client service by adding to our ability to proactively investigate transactions that appear high risk and alert clients before they see an impact in their accounts.”
Vanguard is a provider of company-sponsored retirement plan services. Vanguard manages $1.1 trillion in US mutual fund assets, including nearly $500 billion in retirement assets.
Actimize is a provider of software solutions for anti-money laundering, brokerage compliance and fraud prevention.
