SPD Silicon Valley Bank will implement NICE
Actimize’s next-generation Suspicious Activity Monitoring solution
to detect complex financial crimes while increasing
productivity
Leading the industry with AI-based solutions designed to
streamline anti-money laundering operations for global financial
institutions, NICE Actimize, a NICE (Nasdaq: NICE) business
and the leader in Autonomous Financial Crime Management, was
selected by China-based SPD Silicon Valley Bank (SSVB) to update
its anti-money laundering strategy with next generation AI-infused
transaction monitoring protections. Adopting NICE Actimize’s latest
Suspicious Activity Monitoring solution (SAM 9), the update will
introduce NICE Actimize’s innovative concept of Autonomous
Financial Crime Management to the financial institution’s
anti-money laundering compliance efforts.
China-based partner Sunlight China is currently supporting
implementation efforts.
NICE Actimize’s latest version of its SAM solution, which will
be used in the implementation, combines machine learning analytics
for laser-accurate AML detection with robotic process automation,
lowering false positives and virtually eliminating the manual
search for supporting data and other manual tasks, increasing team
productivity, and reducing investigation time overall by up to 70
percent. Leveraging NICE Actimize's experience in advanced
analytics and transaction monitoring solutions, the new SAM
solution utilizes automation to reduce human effort and error, and
to detect and report sophisticated crime schemes.
Bradley Gao, Chief Operations Officer, SPD Silicon Valley
Bank“SSVB initiated a rigorous, competitive search for a
solutions partner to update its anti-money laundering strategy, and
our team continued to be impressed with the innovation,
professional support, and deep experience that global industry
leader NICE Actimize brought to our institution. Our mission at SPD
Silicon Valley Bank is to lead China in technological advancements
while offering superior customer service, and we look forward to
working with NICE Actimize as we work to further modernize our
institution’s approach to fighting financial crime.”
Craig Costigan. CEO, NICE Actimize“Demonstrating our
commitment to the entire Asia-Pacific community, we are most proud
of our ongoing relationship with SPD Silicon Valley Bank, and our
future successes as we further focus on China and the region at
large. We know that our years of experience in anti-money
laundering contribute strongly to the confidence the financial
institution has placed in us as we work to continue to strengthen
its anti-money laundering operations with advanced analytics and AI
technologies.”
NICE Actimize provides a unique analytics approach for
compliance teams with its SAM solution. The approach combines
out-of-the-box, expert red-flags with machine-learning
optimizations to dramatically reduce false positives.
Machine-learning is applied to provide intelligent segmentation,
and to improve anomaly detection, thereby increasing the system's
ability to identify known and unknown money-laundering risk
scenarios. Additionally, machine-learning and intelligent
automation is also used to prioritize alerts and reduce overall
investigation times.
For more information on NICE Actimize’s AML suite:
- On NICE Actimize’s Suspicious Activity
Monitoring (SAM 9) solution, please click here.
- On NICE Actimize Autonomous Financial
Crime Management (AFCM), please click here.
SPD Silicon Valley Bank (SSVB)Headquartered in Shanghai,
China, SPD Silicon Valley Bank (SSVB) is a joint venture between
Shanghai Pudong Development Bank Co., Ltd. (“SPDB" SSE: 600000) and
Silicon Valley Bank (“SVB" NASDAQ: SIVB (SVB Financial Group)).
SSVB is the first technology and innovation bank in China serving
as an independent legal entity. It is also the first Sino-US joint
venture bank. SSVB’s mission is to “increase our clients’
probability of success" by providing unique financial products and
services to the technology and innovation industry and redefining
the banking experience for innovation companies of all sizes. SSVB
aims to create the “Innovation Ecosystem" and strives to be the
most sought-after bank for China’s innovation economy. Target
clients include those in the hardware, software, Internet, mobile,
consumer technology, life science, biotechnology and clean-tech
sectors.
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. Costigan 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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version on businesswire.com: https://www.businesswire.com/news/home/20190523005245/en/
Corporate Media ContactCindy Morgan-Olson, +1
551-256-5202cindy.morgan-olson@niceactimize.com
InvestorsMarty Cohen, +1 551 256 5354, ETir@nice.com
Yisca Erez +972 9 775 3798, CETir@nice.com
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