KeyCorp reaches deal for consumer, commercial fraud detection with Nice Systems unit
By APMonday, July 19, 2010
KeyCorp inks deal for fraud detection with Nice
NEW YORK — Regional bank KeyCorp on Monday said it reached a deal for consumer and commercial fraud detection with a subsidiary of Nice Systems Ltd.
The unit, Nice Actimize, will use behavior-based analytics to identify transactions and help to prevent unauthorized activities for KeyCorp’s consumer, small business and commercial banking segments.
The Cleveland-based parent of KeyBank said the deal is financially “significant” and involves a “considerable investment” but did not disclose the terms.
KeyBank has more than 1,000 branches and 1,500 ATMs in 14 states.
KeyCorp shares closed Monday trading up 2 cents at 7.77. Nice Systems shares ended down 35 cents at $25.96.
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