Leveraging X-Sight cloud-based
Platform-as-a-Service capabilities, ActimizeWatch offers financial
services organizations scalable analytics and automation to boost
compliance program effectiveness
In the world of financial services, change can be fast-paced and
regulatory requirements, communication and transaction patterns,
and even asset classes evolve over time. To address this dynamic
environment, NICE Actimize, a NICE (Nasdaq: NICE) business
and the leader in autonomous financial crime management, has
expanded ActimizeWatch, its secure cloud-based managed
analytics service, to its Financial Markets Compliance solutions to
help Financial Services Organizations (FSOs) improve agility,
detection accuracy, efficiency, and overall compliance program
effectiveness.
Leveraging X-Sight, the cloud-based Financial Crime Risk
Management Platform-as-a-Service, ActimizeWatch offers compliance
teams scalable analytics automation and a two-prong approach that
includes Model Optimization and Development Services and Anomaly
Detection. This approach helps FSOs continuously fine-tune their
detection capabilities and uncover unknown risks in an
ever-changing landscape of threats. Both services offer the ability
to anonymously pool and leverage lessons learned across the
collective intelligence of NICE Actimize customers, so FSOs can see
larger threats at play in the marketplace and take steps to
proactively avoid them.
“In financial services, change can be unrelenting. When
surveillance detection models don’t keep pace with change, firms
risk falling out of compliance and unnecessarily driving up
compliance costs,” said Chris Wooten, Executive Vice President,
NICE. “FSOs can now leverage NICE Actimize’s expertise coupled
with advances in technology to automate their compliance programs
and enhance their surveillance detection capabilities.
ActimizeWatch’s analytics-as-a-service helps FSOs get out in front
of changing conditions and uncover hidden compliance risks without
taxing resources.”
Model Optimization Services The ActimizeWatch Model
Optimization Services and Anomaly Detection functions are both
offered as overlays to NICE Actimize’s market-leading
Communications Surveillance, Markets Surveillance, and Sales
Practices & Suitability solutions, so FSOs can better identify
interconnected risks across all surveillance modalities.
NICE Actimize’s ActimizeWatch for Compliance places the
responsibility of analytics optimization in the hands of Actimize
experts, providing a hands-off experience for firms. This assures
FSOs have access to the most up-to-date and accurate detection
models, without the added work. Model optimizations that previously
took months or years to develop in-house can now be implemented in
days or weeks. Optimized models enable FSOs to improve detection of
market abuse and significantly reduce false positives, saving
analysts time.
NICE Actimize’s Model Optimization Services offer unparalleled
expertise to complement an FSO’s in-house resources. Consisting of
data scientists, linguistics experts, and compliance subject matter
experts, the team has decades of experience in regulatory
compliance, cloud computing, speech analytics, machine learning,
and predictive and language modeling.
Anomaly Detection Today’s prescriptive models can be
effective for detecting known risks, but in financial services risk
is a moving target. ActimizeWatch for Compliance’s Anomaly
Detection takes machine learning to the next level, enabling
suspicious behaviors to bubble to the surface, so FSOs always stay
a step ahead of risk. It does this by using unsupervised machine
learning models to detect anomalies in monitored employee
transactions and communications. These anomalies are then presented
in dashboards to compliance analysts for further investigation.
Confirmed risks are fed back into the detection models for further
refinement, enhancement and retraining.
For additional information on ActimizeWatch for Compliance,
please click here. For additional inquiries,
please email NICE at compliance@niceactimize.com.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190904005430/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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