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National Australia Bank (NAB) is nearing the completion of an overhaul of its global trade finance business with Misys' Trade Innovation. Its New Zealand-based subsidiary, BNZ, is expected to go live in September this year, after the system was rolled out to its Asian locations over the last 15 months.Read More
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Also in the News
With financial crime growing daily, payments processors need to ensure their fraud prevention technology can stay one step ahead of the fraudulent behaviour across the globe. IBS spoke to Crystal Clear Payments in the US about how it aims to protect its customers from card-based fraud.
Fraudsters across the globe are consistently on the lookout for new ways to use stolen data to commit card-based fraud. To counter this threat, many payments processors are having to deploy sophisticated fraud prevention services to remain one step ahead of fraudsters. According to Shawn Sinner, president of Texas-based Crystal Clear Payments (CCP), a payments processor which services medium-sized community banks in the US, there has been a tremendous uplift in fraud on credit cards and debit cards in the US alone over the past few years, with fraudsters 'making a business out of swiping cards, using customer data to create replica cards, and thieving from individuals'. Because of this, he says 'it is important to have a fraud prevention solution in place to predict and prevent fraud from occurring on our customers' cardholders' accounts'.
In Q1 2011, the decision was made for CCP to implement a fraud prevention solution. Sinner says: 'Not only did we need to be able to provide a fraud prevention service that could rapidly adapt and dynamically update patterns to detect fraud, but we needed to... continues (login/register).
Oracle is continuing development of the Oracle Banking Platform core system behind the scenes, and looking to add to its two known customers.
The move to introduce a harmonised payments infrastructure across the West Africa Monetary Zone (WAMZ) is making headway, with the RTGS system from CMA Small Systems now live in four of the six countries involved. Southern and Eastern Africa are also introducing common payments systems.
Legal & General Investment Management (LGIM) has selected Misys' Sophis Value for enterprise portfolio and risk management. The solution will be deployed at LGIM's entities in London and Chicago, before being rolled out to other geographies.
Banesco, Venezuela's largest bank by market share, has embarked on an enterprise-wide IT overhaul. The bank will replace its legacy IBS system from Datapro with Temenos' T24 across its domestic network of 440 branches, plus in Panama and the Dominican Republic.