NICE Actimize’s AML Essentials with ActOne Case
Management will allow Vancity to more efficiently fight financial
crime, contain costs and comply with Canadian regulations
NICE Actimize, a NICE (NASDAQ: NICE) business, has been
selected by Vancouver City Savings Credit Union (Vancity), a
member-owned financial co-operative headquartered in British
Columbia, Canada, to drive and implement its modernized,
cloud-based anti-money laundering operation. The financial
cooperative’s objective is to significantly improve its
investigators’ efficiency, allowing them to fight financial crime
more effectively while simultaneously containing costs and
complying with Canadian regulations. With $28.2 billion in assets
under administration, Vancity is English-speaking Canada's largest
community credit union.
Vancity is significantly updating its operational investments by
leveraging several NICE Actimize solution areas. In anti-money
laundering, Vancity will expand its financial crime solutions’
footprint by integrating NICE Actimize’s AML Essentials solutions
suite that includes Suspicious Activity Monitoring (SAM), CDD/KYC,
and Watch List Filtering. Actimize AML Essentials, a cloud-based
offering built upon NICE Actimize’s proven, end-to-end anti-money
laundering platform, addresses the challenges of regional and
community financial institutions. Using the same power and
experience as NICE Actimize’s enterprise solutions, AML Essentials
offers rapid deployment and reduces overhead to make compliance
easier and at a lower total cost of ownership.
In addition, Vancity will enhance its corporate security
investigation processes with ActOne Case Management to meet AML
regulatory requirements, such as reporting of suspicious
transactions to The Financial Transactions and Reports Analysis
Centre of Canada (FINTRAC) via STR forms. NICE Actimize’s ActOne
transforms financial crime investigations by introducing
intelligent automation and visual storytelling for speed and
accuracy.
“Addressing today’s changing environment can be difficult as
regulations, guidelines and threats constantly evolve. Applying
modern technologies that incorporate AI, automation and the cloud,
NICE Actimize is proud to support Vancity and its journey to
protecting the institution, its members, and assets with our
advanced suite of financial crime solutions,” said Craig
Costigan, CEO, NICE Actimize. “Our strong domain expertise and
advanced technology will build a more efficient anti-money
laundering platform for the cooperative.”
“Our team at Vancity is excited to update its anti-money
laundering platform,” said Nez Aquino, Chief Risk Officer,
Vancouver City Savings Credit Union. “We are confident that
NICE Actimize’s depth of experience and technology leadership will
bring us the efficiencies we need to address both regulatory and
operational requirements.”
About Vancouver City Savings Credit Union (Vancity)
Vancouver City Savings Credit Union commonly referred to as
Vancity, is a member-owned financial co-operative headquartered in
Vancouver, British Columbia, Canada. Vancity is a values-based
financial co-operative serving the needs of its more than 543,000
member-owners and their communities in the Coast Salish and
Kwakwaka'wakw territories, with 57 branches in Metro Vancouver, the
Fraser Valley, Victoria, Squamish and Alert Bay. With $28.2 billion
in assets plus assets under administration, Vancity uses its assets
to help improve the financial well-being of its members while at
the same time helping to develop healthy communities that are
socially, economically and environmentally sustainable.
https://www.vancity.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,”
“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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210113005354/en/
Corporate Media Contact: Cindy Morgan-Olson, NICE
Actimize, +1 646 408 5896, ET,
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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