SURVEIL-X reduces false positives and costs by
enabling financial institutions to tailor alert thresholds to their
customers’ trading activity
Offering a wide range of solutions protecting digital financial
services, NICE Actimize, a NICE (Nasdaq: NICE) business and
the leader in Autonomous Financial Crime Management, was selected
by eToro, the global, multi-asset
investment platform, to implement the SURVEIL-X Markets
Surveillance solution. Focused on providing access to global
financial markets, eToro currently has a collaborative community of
more than 13 million registered users located in more than 100
countries.
Leveraging NICE Actimize’s SURVEIL-X Markets Surveillance
solution, an integral part of its SURVEIL-X Holistic Surveillance
suite, eToro will augment its critical compliance infrastructure to
guard against market manipulation and ensure compliance across its
trading products, targeting support for equities, commodities,
ETFs, CFDs and more. eToro will also utilize NICE Actimize’s
industry-leading case management capabilities providing robust
evidence of a strong and repeatable compliance process.
The NICE Actimize SURVEIL-X Markets
Surveillance application enables securities trading firms
like eToro to quickly and cost effectively detect sophisticated
forms of market manipulation including pump and dump, layering and
insider trading. Also important, SURVEIL-X Markets’ configurable
rules engines reduce false positives and costs by enabling firms to
tailor alert thresholds to their customers’ trading activity.
Offering premium surveillance capabilities without the expense
of on-premise solutions, the SURVEIL-X Holistic Surveillance
cloud-native suite offers faster deployment; reduced
infrastructure; operational, training and maintenance costs;
hassle-free upgrades; seamless scalability; improved resiliency and
security.
“As a global, multi-asset investment platform, we are committed
to providing a reliable, fully compliant brokerage experience,
protecting customer assets while offering full transparency and
meeting the needs of global regulators,” said Avi Sela, COO of
eToro. “To accomplish this, we chose financial markets
compliance innovator NICE Actimize to provide solutions which
address the rapidly changing landscape. We required a solution that
would adapt to the broad range of emerging assets we offer, and
NICE Actimize was the choice which had the adaptability to meet our
current and future needs.”
“As we serve the global investment community, we provide broad,
consistent global coverage via standard models for equities, fixed
income, foreign exchange, swaps, futures and options along with
ease of deployment and seamless scalability,” said Chris Wooten,
EVP, NICE. “With more than 12 years’ experience implementing
OTC instrument markets surveillance, our out-of-the-box detection
scenarios provide superior analytics that have been successfully
implemented by numerous top tier global clients. We recognize
eToro’s commitment to the highest standards of customer safeguards
and are excited to provide its global investment platform secure
and cost-effective protection.”
NICE Actimize’s SURVEIL-X Markets
Surveillance application provides a comprehensive package of
surveillance models that enables global regulatory compliance
across products and markets. The solution’s proven analytics
capabilities offer fully automated surveillance and end-to-end
workflow management, investigation, audit and reporting/dashboard
capabilities.
For additional information on the NICE Actimize SURVEIL-X
Markets Surveillance solution, click here.
About eToro eToro was founded in 2007 with the vision of
opening up the global markets so that everyone can invest in a
simple and transparent way. The eToro platform enables people to
invest in the assets they want, from stocks and commodities to
cryptoassets. We are a global community of more than thirteen
million registered users who share their investment strategies; and
anyone can follow the approaches of those who have been the most
successful. Due to the simplicity of the platform users can easily
buy, hold and sell assets, monitor their portfolio in real time,
and transact whenever they want. www.etoro.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,”
“seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,”
“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 changes in economic and business conditions,
including as a result of the COVID-19 pandemic; competition;
successful execution of the Company’s growth strategy; success and
growth of the Company’s cloud Software-as-a-Service business;
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; the Company’s dependency on third-party cloud
computing platform providers, hosting facilities and service
partners;, cyber security attacks or other security breaches
against the Company; the effect of newly enacted or modified laws,
regulation or standards on the Company and our products and various
other factors and uncertainties discussed in our filings with the
U.S. Securities and Exchange Commission (the “SEC”). 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 SEC, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200701005377/en/
Corporate Media Contact: Cindy Morgan-Olson,
+1-646-408-5896 NICE Actimize
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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