The Data Initiative & Financial Intelligence & Analytics Join NICE Actimize’s X-Sight Marketplace, the Industry’s First F...
November 12 2019 - 6:30AM
Business Wire
Partnering with the X-Sight Marketplace, these
two advanced technology providers offer capabilities that improve
data processing including curating public domain information for
AML as well as SWIFT and ACH message translation
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 two 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 The Data
Initiative, which curates data for AML practitioners, and Financial
Intelligence & Analytics (FIA) which offers SWIFT and ACH
message translation and parsing for centralized, searchable
databases.
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.
The new NICE Actimize Marketplace partners offer the
following:
- The Data Initiative has created a process which leverages
unified critical public domain money laundering information,
curating and synthesizing that data in a way that offers customers
more accessible and more intelligent insights. The Data
Initiative’s AML practitioners also offer a Web Application UI/UX,
designed to search, reference, explore, exploit, and export
insightful intelligence via a specialized interface. Focused on
solving many of AML compliance’s most difficult issues, the
intelligence secured by the solution may be applied for many uses
including risk assessments; strategy and planning; program and
policy development; model development; operational reference;
training; and board and oversight reporting. “Public data sources
related to money laundering present a wide range of usability and
application challenges,” said Vic Maculaitis, Founder and Chief
Executive, The Data Initiative. “These data sources are often
fragmented, credibility and relevance can be uncertain, and the
universe of discovery is often unknown or difficult to ascertain.
The Data Initiative’s unique process brings together related, but
fragmented, data, providing insights that guide key business
decisions for AML financial crime practitioners. We look forward to
bringing these new data-centric approaches to NICE Actimize’s
X-Sight Marketplace.”
- FIA (Financial Intelligence & Analytics) offers the
industry’s first universal SWIFT and ACH message translation and
parsing technology. FIA's unique bi-directional methodology allows
SWIFT and ACH messages to be converted into a single, centralized
searchable database format that can be used by all internal systems
and processes. The increased accuracy of information and
standardized output format reduces risk and increases operational
efficiency. FIA’s products are based on a unique methodology for
translating and parsing all SWIFT and ACH messages into a universal
standardized data schema for the output and input of all message
information. Called the Universal SWIFT Message Format (USMF),
FIA’s USMF data is presented in a standardized XML/JSON data
structure and can be used for any internal/external operation or AI
process. It also creates a fully readable and searchable database
of all messages. In addition, FIA can convert existing data into
USMF and produce SWIFT messages from that data. “FIA is dedicated
to reducing risk and improving operational efficiency in the
financial services industry through business process improvement,”
said Paul Williams, FIA, CEO / Co-founder. “We look forward
to working with the X-Sight Marketplace to make data more
searchable and accessible by improving internal systems and
processes.”
Technology providers, such as The Data Initiative and FIA, 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 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/20191112005488/en/
Corporate Media 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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