Green Dot Corp. plans use risk-management software from Nice Actimize, the prepaid card provider noted in a Jan. 5 press release.
The Monrovia, Calif.-based company says it will use 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 also will receive risk-management and compliance support, according to the release.
“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, Green Dot chief risk officer, said in the release. The Nice products will increase the efficiency of its internal investigations and reporting, he said.
NICE Actimize, the risk-compliance software division of Nice Systems in Israel, offers a suite of products that include Card Fraud, AML Suspicious Activity Monitoring, Know Your Customer/Customer Due Diligence and Enterprise Risk Case Manager.
