Vital4, Raidiam, & RegSmart Join NICE Actimize’s X-Sight Marketplace, the Industry’s First Financial Crime Management Eco...
November 01 2019 - 6:30AM
Business Wire
Partnering with the X-Sight Marketplace, three
breakthrough technology firms offer capabilities in scalable due
diligence data management, BSA risk assessments, and identity and
access management
Helping financial services organizations keep up with a changing
market landscape, NICE Actimize, a NICE business (Nasdaq:
NICE) and leader in Autonomous Financial Crime
Management, today announced that three new technology partners have
joined the fast-growing X-Sight Marketplace, the industry’s first
financial crime risk management-focused ecosystem. X-Sight
Marketplace helps financial services organizations evaluate new
point solutions and move to stay on top of a challenging regulatory
and criminal environment. The recent additions include
Vital4, an innovative data solution provider in
the AML/KYC market which enables businesses to identify individuals
and entities which pose a financial crime risk;
Raidiam, specialists in identity and
authentication processes; and RegSmart, which
collects and analyzes data based on the latest regulatory guidance
and provides advice to manage regulatory risk.
X-Sight Marketplace leverages the X-Sight
Platform-as-a-Service and further expands the functionality offered
by the platform. The NICE Actimize X-Sight Platform-as-a-Service
offers a single, unified, cost-effective way for financial services
organizations to rapidly innovate and introduce new services while
supporting best-in-class financial crime, risk and compliance
management capabilities.
These new innovative partner organizations which are joining the
NICE Actimize X-Sight Marketplace include:
- Vital4 provides global screening solutions to help
organizations maintain regulatory compliance and mitigate
third-party risk. As a cloud software platform made fast and
powerful by proprietary machine learning technology, Vital4 was
developed to bring the agility of SaaS services to enterprise
compliance regimes and eliminate slow update cycles, shallow source
pools and the human-error risks of manual legacy processes. Vital4
screens and monitors third-party relationships against thousands of
global financial sanctions, watch lists, and politically exposed
persons (PEP), and tens of thousands of news and media sources. “We
welcome the opportunity to partner with the X-Sight Marketplace and
NICE Actimize’s industry-leading AML solutions as we grow our
global market,” said Kristin Stafford, Founder & CEO,
Vital4. “We think the X-Sight Marketplace provides an important
opportunity for customers to better manage their due diligence
requirements while saving time and money and addressing operational
risk.”
- Raidiam, an identity specialist, helps organizations
transition to a modern, interoperable process of identity and
authentication management; adopt an identity-centric approach and
build the right reference architecture to support it; and create a
single customer view to manage permissions and privileges
efficiently and securely. Raidiam was founded by the leading
architects who conceived the first platform to address Open Banking
in the UK and were also key players in developing the OpenID
Foundation Financial Grade API (FAPI) standard. “Raidiam
accelerators, such as our Raidiam Connect Gateway, provide
optimized routes of passage to meet regulatory challenges such as
the eIDAS digital certificate challenge under PSD2,” said Barry
O’Donohoe, Co-Founder and Partner, Raidiam. “We look forward to
providing our approach, which integrates business value with IT
needs, to the X-Sight Marketplace ecosystem.”
- RegSmart, which collects and analyzes data based on the
latest regulatory guidance and advice, provides fully compliant BSA
risk assessments and annual audits, “In a Box.” RegSmart’s SaaS
based process systematically collects data, analyzes risk, and
delivers real time, actionable information to decision makers.
RegSmart-BSA Risk & Review begins with a comprehensive BSA Risk
Assessment that meets the standards of the FFIEC BSA/AML Manual and
the OCC Money Laundering Risk Assessment by evaluating every
location, product, service, customer profile, and material
operational area that affects BSA risk. The approach offers
hundreds of mitigating controls customized to high risk products,
services, and customers. It calculates categorical and
institutional risk using its proprietary risk algorithm and
provides plain language reporting of every major aspect of BSA
risk. RegSmart’s Risk & Review includes a comprehensive 280
question BSA exam preparation/audit application (with a complete
OFAC audit), that covers the 16 critical areas of BSA compliance
including BSA Program Administration, CIP, eBanking, OFAC, Monetary
Instruments, and Private Banking. “We are excited to partner with
the X-Sight Marketplace, expanding our services to NICE Actimize’s
base of AML customers,” said Mark Stetler, CEO, RegSmart.
“Keeping up with the fast-paced regulatory environment is an
exceptional challenge, and we look forward to integrating our
regulatory and risk expertise into the X-Sight Marketplace
platform.”
Technology providers, such as Vital4, Raidiam, and RegSmart,
that partner with NICE Actimize’s X-Sight Marketplace ecosystem,
are reviewed for their ability to complement financial crime and
compliance solutions. Once approved, software and service providers
become available to the NICE Actimize community via the X-Sight
Marketplace. FSOs can quickly browse through X-Sight Marketplace
solution categories to find scalable options that solve their
unique business problems.
“We welcome these three new partners to the Marketplace
ecosystem, each offering their own value proposition to our
customer network. We are excited that each of these new partners,
which share our common goal of fighting financial crime through the
benefits of a Marketplace ecosystem, is joining the X-Sight
marketplace community,” said Craig Costigan, CEO, NICE
Actimize. “By connecting via a cloud environment,
community participants will experience a quicker time to value and
minimized integration cost as they evaluate new solutions for their
financial services organizations.”
Additional categories that will be added to NICE Actimize’s
X-Sight Marketplace from other partner participants will include:
Ultimate Beneficial Ownership, Value-added Data & Adverse
Media, Watchlist, Device Identification, and User Authentication
& Fraud. Additional partners will be announced as the X-Sight
Marketplace grows.
For more information on the X-Sight Marketplace,
please click here.
If you are a technology company or financial institution wishing
to be part of the first financial crime and compliance marketplace,
please contact us at info@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.
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/20191101005018/en/
NICE Corporate Media Contact Cindy Morgan-Olson,
551-256-5202, 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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