Crédit Agricole Titres is Implementing Abuse Solution

Crédit Agricole Group is implementing Actimize, a provider of transactional […]

November 3, 2008

Crédit Agricole Group is implementing Actimize, a provider of transactional risk management software for the financial services industry and a NICE Systems company, to enable compliance with the Market Abuse Directive, especially with regard to identifying and pursuing insider dealings. The Crédit Agricole Group will be implementing the Actimize solution at Crédit Agricole (CA) Titres, whose main business is acting as a custodian for the entire retail banking operation of the group.

Actimize will enable CA Titres to offer an enterprise-wide compliance solution across its entire retail banking operation in France, consisting of 39 groups that include retail banking, private banking and fund management networks. With a large percent of the French custodian market for retail, private and fund management in its home market, CA Titres acts to reinforce its market position by continually developing and launching new financial products. By implementing the Actimize Brokerage Compliance Market Abuse solution, CA Titres is taking an even more proactive approach to mitigating the risks of market manipulation.

The Actimize Brokerage Compliance Market Abuse solution monitors and detects suspicious transactions using sophisticated analytical models, and automatically distributes targeted alerts within an intuitive case management system directly to the relevant retail banking branch and users within the group. The system uses several analytical methods to assign a priority score to alerts, thus improving the efficiency of trading managers and compliance staff. CA Titres required a holistic approach to market monitoring, which Actimize was able to provide within a user-friendly system. The solution was selected for its advanced analytical capabilities, its strong set of rules allowing targeted alerts, and finally its large international customer base.

“Crédit Agricole Group joins our strong European client base that are standardizing on Actimize solutions for enterprise-wide compliance management and fighting financial crime,” said Bruno Piers de Raveschoot, Vice President of Actimize Europe. “We understand the needs of large financial institutions around the globe and we’re committed to providing the most innovative solutions and best customer service. We are extremely pleased to expand our relationship with Crédit Agricole, now meeting the needs of CA Titres, Crédit Agricole Asset Management and others.”

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