NICE Actimize’s next-generation SURVEIL-X
solution fundamentally changes surveillance detection to help FSOs
detect all forms of risky behavior and better comply with global
regulations
Traditional surveillance technology is adept at detecting
obvious market abuse, but it doesn’t commonly address the
“unknowns”. That’s why regulators around the globe are adopting
next generation surveillance technology in growing numbers, and
advising Financial Services Organizations (FSOs) to do the same. To
meet this demand, NICE Actimize, a NICE (Nasdaq: NICE)
business and the leader in Autonomous Financial Crime
Management, is introducing SURVEIL-X, the industry’s first
AI-powered, cloud-native, true holistic trade-related surveillance
solution that detects all forms of risky behavior to ensure
compliance with key global regulations, including MIFID II,
Dodd-Frank, Regulation Best Interest and others, while also
protecting FSOs from previously undetectable risks that could
result in fines and reputational damage.
NICE Actimize’s SURVEIL-X revolutionizes surveillance by
providing complete surveillance coverage with both AI-powered and
traditional expert rule-based analytics, and advanced visualization
tools, all on a cloud-native platform that drives down total cost
of ownership. Utilizing the latest AI technologies, SURVEIL-X uses
a fundamentally different, advanced surveillance methodology,
enabling for far greater and more comprehensive risk detection.
Taking a situational approach to surveillance, SURVEIL-X
intelligently discovers all facets around market manipulation
actions, pieces them together without manual intervention and
delivers a single alert to compliance for review to increase the
probability of finding true risk and delivering clear understanding
of the risk discovered.
SURVEIL-X offers unparalleled risk coverage for buy- and
sell-side firms, insurance companies, crypto exchanges, regulators
and more, by enabling accurate detection and rapid, thorough
investigation of market abuse, inappropriate sales practices,
conduct risk and otherwise undetectable compliance risks to
insulate firms from fines and reputational damage.
Chris Wooten, Executive Vice President, NICE, stated,
“For financial services organizations, surveillance capabilities
have become a compliance necessity for detecting known regulatory
risks. The only problem is that risk is a moving target, and the
things you don’t know or uncover can also hurt your firm. With
SURVEIL-X’s complete surveillance coverage, AI-powered analytics
and anomaly detection, and its other next-generation surveillance
capabilities, FSOs can move out ahead of the curve and insulate
themselves from reputational damage and fines.”
Complete Surveillance Coverage Where much of the current
surveillance technology is limited by its ability to generate an
alert using only one data set (i.e. trades or eCommunications or
voice communications), SURVEIL-X looks for connected actions across
sources and generates a single alert with all the applicable data
for compliance to review. This expands the surveillance detection
capabilities far beyond what is typically available today.
SURVEIL-X holistic surveillance removes data silos to provide
comprehensive surveillance coverage for trade-related regulatory
needs. It can connect to, ingest and analyze data from 150+
real-time data sources, including traditional market information,
behavioral data derived from analytics, and various communication
platforms. By analyzing surveillance data together in one platform,
SURVEIL-X is redefining compliance processes to help FSOs cut
through the clutter and identify true risks.
X-Sight Cloud Platform-as-a-Service As a cloud-native
solution powered by X-Sight, SURVEIL-X’s future-proof platform
enables FSOs to benefit from faster deployment, reduced
infrastructure, operational, training and maintenance costs, hassle
free upgrades, seamless scalability, and improved resiliency and
security – so they can stay a step ahead of new regulations. FSOs
can also take advantage of the X-Sight Marketplace, which lowers
integration barriers and shortens time-to-use for dozens of
integrated third-party solutions.
AI-Powered Analytics Traditional surveillance methods
that use lexicon, rules and threshold breaches may work for
detecting obvious issues but are limiting. NICE Actimize SURVEIL-X
takes detection to a whole new level by leveraging AI-powered
analytics, including machine learning, anomaly detection, smart
classification, advanced speech and behavioral analytics, and
Natural Language Understanding to reduce false positives by up to
90 percent. SURVEIL-X’s AI-powered analytics go far beyond looking
at single events, formulas and simple thresholds, to analyze and
correlate your communications, trade and other data sources, so you
can identify true risks and understand the intent behind actions
taken.
With traditional prescriptive detection methods that focus on
known risks, regulated employees can easily fly below the radar or
change their behavior to avert detection. SURVEIL-X’s anomaly
detection uses unsupervised machine learning to bring attention to
previously undetectable suspicious behaviors.
Centralized Case Management with Story Visualization
SURVEIL-X’s data-rich, visual alerting capabilities within NICE
Actimize’s award-winning ActOne case manager provide a
comprehensive graphical representation of any risk that is
detected. This may include important details on why an alert was
created, leveraging risk factors across communications, trades and
more, demonstrating the content and context of the event as well as
the conclusion as to why risk is inherent in the alert. All of this
is shown within a detailed timeline of events so analysts can
receive a detailed understanding of risk, and the full sequence of
actions exactly as they happened.
NICE Actimize unveiled its new SURVEIL-X solution this week at
the 1LoD Surveillance 1LoD Surveillance Summit in New York City and
at the Albridge Forum in San Diego.
Learn more about NICE Actimize’s SURVEIL-X:
- Watch NICE Actimize’s SURVEIL-X video here.
- Visit the NICE Actimize SURVEIL-X web page here.
About NICE Actimize NICE Actimize is the largest and
broadest provider of financial crime, risk and compliance solutions
for regional and global financial institutions, as well as
government regulators. Consistently ranked as number one in the
space, NICE Actimize experts apply innovative technology to protect
institutions and safeguard consumers and investors assets by
identifying financial crime, preventing fraud and providing
regulatory compliance. The company provides real-time,
cross-channel fraud prevention, anti-money laundering detection,
and trading surveillance solutions that address such concerns as
payment fraud, cybercrime, sanctions monitoring, market abuse,
customer due diligence and insider trading. Find us at
www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.
About NICE NICE (Nasdaq:NICE) is the world's leading
provider of both cloud and on-premises enterprise software
solutions that empower organizations to make smarter decisions
based on advanced analytics of structured and unstructured data.
NICE helps organizations of all sizes deliver better customer
service, ensure compliance, combat fraud and safeguard citizens.
Over 25,000 organizations in more than 150 countries, including
over 85 of the Fortune 100 companies, are using NICE solutions.
www.nice.com.
Trademark Note: NICE and the NICE logo are trademarks or
registered trademarks of NICE Ltd. All other marks are trademarks
of their respective owners. For a full list of NICE’s marks, please
see: www.nice.com/nice-trademarks.
Forward-Looking Statements This press release contains
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Wooten, are based on
the current beliefs, expectations and assumptions of the management
of NICE Ltd. (the Company). In some cases, such forward-looking
statements can be identified by terms such as believe, expect, may,
will, intend, project, plan, estimate or similar words.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause the actual results or performance of
the Company to differ materially from those described herein,
including but not limited to the impact of the global economic
environment on the Company’s customer base (particularly financial
services firms) potentially impacting our business and financial
condition; competition; changes in technology and market
requirements; decline in demand for the Company's products;
inability to timely develop and introduce new technologies,
products and applications; difficulties or delays in absorbing and
integrating acquired operations, products, technologies and
personnel; loss of market share; an inability to maintain certain
marketing and distribution arrangements; and the effect of newly
enacted or modified laws, regulation or standards on the Company
and our products. For a more detailed description of the risk
factors and uncertainties affecting the company, refer to the
Company's reports filed from time to time with the Securities and
Exchange Commission, including the Company’s Annual Report on Form
20-F. The forward-looking statements contained in this press
release are made as of the date of this press release, and the
Company undertakes no obligation to update or revise them, except
as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190918005358/en/
Corporate Media Cindy Morgan-Olson, 201-551-5202
cindy.morgan-olson@niceactimize.com
Investors Marty Cohen, +1 551 256 5354, ET
ir@nice.com
Yisca Erez +972 9 775 3798, CET ir@nice.com
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