Independent research firm notes how NICE
Actimize’s approach helps clients create a single, consistent
approach to AML
NICE Actimize, a NICE Systems (NASDAQ:NICE) business and the
largest and broadest provider of a single financial crime, risk and
compliance software platform for the financial services industry,
was profiled in a CEB TowerGroup analyst report, “Combatting Rising
Threats with Aging Infrastructure” Anti-Money Laundering Systems
Market Update, issued this month. The report reflects the need of
the retail banking industry to diagnose the technology attributes
and anti-money laundering (AML) systems that target those industry
requirements.
As the CEB report observes, “NICE Actimize’s approach to the
market helps clients create a single, consistent approach to AML,
enabling clients to transition towards enterprise risk
management.”
“About 38% of commercial banking executives are planning to
replace their existing AML solutions in an effort to take a more
proactive stance to financial crimes and take advantage of the
advancing analytical and predictive capabilities of modern AML
platforms,” said Andy Schmidt, CEB TowerGroup Research Director and
Principal Executive Advisor for the report. Schmidt adds, “Leading
banks are finding that the same capabilities they use to predict
and assess risk can also be used to predict customer needs and
generate relationship insights, thereby providing further value
from their AML platforms.”
“This report outlines the NICE Actimize approach to the current
state of the AML marketplace, as well as our future vision for the
AML function within a financial institution,” said David Kwan,
General Manager, Anti-Money Laundering, NICE Actimize. “As the
compliance function within financial institutions continues to grow
in importance, we are continuing to evolve our products and
services to this ever important function.”
According to the new CEB TowerGroup analyst report, “Financial
institutions of all sizes are dedicating more resources than ever
to implementing and managing new regulatory provisions. For
example, new regulations have doubled compliance costs for the six
largest US banks, rising from $34.7 billion in 2007, to $70.1
billion in 2013. Regulators are cracking down on money laundering
requirements, leading to a series of monumental fines at the
largest global banks. In 2013 and 2014 alone, banks paid nearly $15
billion in money laundering violations, making this compliance area
one of the highest risks for banks.”
For more information on NICE Actimize’s CDD Suite, please visit:
www.niceactimize.com/cddsuite.
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.nice.com/actimize.
About NICE Systems
NICE Systems (NASDAQ:NICE) is the worldwide leading provider of
software solutions that enable organizations to take the next best
action in order to improve customer experience and business
results, ensure compliance, fight financial crime, and safeguard
people and assets. NICE’s solutions empower organizations to
capture, analyze, and apply, in real time, insights from both
structured and unstructured Big Data. This data comes from multiple
sources, including phone calls, mobile apps, emails, chat, social
media, video, and transactions. NICE solutions are used by over
25,000 organizations in more than 150 countries, including over 80
of the Fortune 100 companies. www.nice.com.
Technology Assessment Disclaimer
CEB does not endorse any vendor, product or service depicted in
our CEB TowerGroup publications and does not advise technology
users to select only those vendors rated “best in class.” CEB
TowerGroup research publications consist of the opinions of CEB
TowerGroup’s analysts and should not be construed as statements of
fact. CEB disclaims all warranties, expressed or implied, with
respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
Trademark note: Actimize, the Actimize logo, NICE, and
the NICE logo are trademarks or registered trademarks of NICE
Systems Ltd. and/or its subsidiaries. All other marks are
trademarks of their respective owners. For a full list of NICE
Systems' marks, please see:
http://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. Kwan, are based on the current expectations of the management
of NICE-Systems Ltd. (the Company) only, and 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) and the resulting
uncertainties; 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; pressure on pricing resulting from competition; and
inability to maintain certain marketing and distribution
arrangements. 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: http://www.businesswire.com/news/home/20160224005255/en/
Press:NICE ActimizeCindy Morgan-Olson,
+1-212-851-8842cindy.morgan-olson@niceactimize.comorInvestors:NICE
Systems Ltd.Marty Cohen, +1-212-574-3635ir@nice.comorYisca Erez,
+972-9-775-3798ir@nice.com
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