NICE Actimize Transforms Flagstar Bank’s Financial Crime Strategy To Enable Future Transition to Intelligent Automation
August 28 2018 - 6:30AM
Business Wire
NICE Actimize’s AML and case management
platform, when combined with machine learning analytics, can reduce
investigation time up to 70 percent
NICE Actimize, a NICE (Nasdaq:NICE) business and the
leader in Autonomous Financial Crime Management, has been
chosen by Flagstar Bank to transform and build its financial crime
strategy with its new anti-money laundering and case management
solutions. The implementation will include NICE Actimize’s
recently launched Suspicious Activity Monitoring (SAM9) solution
along with Actimize ActOne, an investigation management
system that can serve as the financial institution’s next
generation alert and case management platform.
Flagstar Bank, a current customer of NICE Actimize, will kick
off its transformation efforts with the Actimize Suspicious
Activity Monitoring, SAM9, which introduces NICE Actimize’s
innovative concept of Autonomous Financial Crime Management to the
SAM anti-money laundering solution for the first time.
Additionally, NICE Actimize’s ActOne Management System, when
working in tandem with the AML solution, will improve analysts’
decision making while reducing investigation time for a single
alert by up to 70 percent.
“Over the course of our relationship, we have come to value NICE
Actimize for their deep industry experience and investment in
leading-edge financial crime products, such as their anti-money
laundering and advanced case management solutions, said Matthew
Paulsen, Director of BSA/AML Compliance, Flagstar Bank. “We are
particularly excited about the synergies and the end-to-end
capabilities that SAM9 and ActOne will bring to Flagstar in helping
us fight financial crime.”
“As one of our first efforts in an Autonomous Financial Crime
Management solution, this strategic assignment for NICE Actimize
demonstrates the strength and accessibility of our end-to-end
offerings,” said Joe Friscia, President, NICE Actimize.
“This innovative financial crime system can ultimately be
transformed by applying AI-enabled robotics and automation to its
ecosystem. Together, our AML and ActOne solutions provide the key
to better resource utilization, increased accuracy and
productivity, and improved return on investment.”
Additional assets:
- For NICE Actimize’s integrated
anti-money laundering solutions, please click here.
- For NICE Actimize’s ActOne
Investigation Management, please click here.
About Flagstar BancorpFlagstar Bancorp, Inc. (NYSE: FBC)
is an $18.1 billion savings and loan holding company headquartered
in Troy, Mich. Flagstar Bank, FSB, provides commercial, small
business, and consumer banking services through 107 branches in
Michigan and California. It also provides home loans through a
wholesale network of brokers and correspondents in all 50 states,
as well as 88 retail locations in 31 states, representing the
combined retail branches of Flagstar and its Opes Advisors mortgage
division. Flagstar is a leading national originator and servicer of
mortgage loans, handling payments and record keeping for $120
billion of home loans representing over 535,000 borrowers. For more
information, please visit flagstar.com.
About NICE ActimizeNICE 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 NICENICE (Nasdaq: NICE) is the worldwide 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 StatementsThis 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. Friscia, 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.
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NICECorporate Media ContactCindy Morgan-Olson,
201-551-5202,cindy.morgan-olson@niceactimize.comorInvestorsMarty
Cohen, +1 551 256 5354, ETir@nice.comorYisca Erez +972 9 775 3798,
CETir@nice.com
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