Green Dot Corp. said Wednesday it will use risk management software from NICE Actimize.

The Monrovia, Calif., prepaid card provider said it will adopt the software to handle real-time fraud prevention, to meet government anti-money-laundering obligations and to support risk-based authorization and loading decisions for its new and existing customers. Green Dot will also receive risk management and compliance support.

"The prepaid card space is rapidly expanding, and we want to remain at the forefront of the industry by leveraging compliance and risk management technology that provides the breadth and flexibility required for growth as our organization and industry evolve," John Morton, chief risk officer for Green Dot, said in a press release. Morton said the products will increase the efficiency of its internal investigations and reporting.

NICE Actimize, the risk-compliance software division of NICE Systems Ltd. of Israel, offers products such as Card Fraud, AML Suspicious Activity Monitoring, Know Your Customer/Customer Due Diligence, and Enterprise Risk Case Manager.

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