NICE Actimize Selected by Valley National Bank to Implement Its New AML and Financial Crime Platform Strategy
27 Mars 2017 - 1:00PM
Business Wire
The implementation will first roll out Customer
Due Diligence followed by other key anti-money laundering
capabilities
NICE Actimize, a NICE (Nasdaq:NICE) business and the
industry's largest and broadest provider of a single financial
crime, risk, and compliance software platform for the financial
services industry has been selected by Valley National Bank to
implement a unified financial crime platform initially focused on
strengthened anti-money laundering capabilities. The implementation
will launch with NICE Actimize’s Customer Due Diligence (CDD)
solution, following with Suspicious Activity Monitoring (SAM) and
Case Management applications. Based in Wayne, New Jersey, Valley
National Bank holds approximately $23 billion in assets.
“We are ready to launch a new financial crime platform strategy,
with an updated approach to monitoring regulatory and compliance
objectives. Early on, we recognized the benefits that a single,
unified AML platform would provide throughout our institution,”
explained Sheila Leary, First Senior Vice President, Director of
AML/BSA Compliance, Valley National Bank. “The breadth and depth of
NICE Actimize’s solutions, particularly across anti-money
laundering and case management, offers us many operational benefits
while at the same time aligning well with our growth expectations
as we add institutions to our expanding network.”
Among the NICE Actimize strengths cited by Valley National are
its deep industry experience, investment in a long-term product
roadmap, and specific experience and robust offerings in CDD, SAM,
and Case Management. NICE Actimize’s functionality for CDD supports
the complete lifecycle assessment and re-assessment of customer
risk as part of Know Your Customer (KYC) applicant onboarding and
ongoing customer due diligence processes including complex
beneficial ownership structures.
Contributing to lowering Valley’s total cost of ownership while
offering profiling capabilities that provide a single customer
view, NICE Actimize’s tools such as Policy Manager and DART
(Detection and Research Tool) will help to ease AML compliance
requirements and to better implement more consistent AML
transaction monitoring and CDD programs.
“This strategic win for NICE Actimize demonstrates the strength
and accessibility of our AML solutions suite for financial
institutions of all sizes and types,” said Joe Friscia, President,
NICE Actimize. “We look forward to supporting Valley’s financial
crime strategy as we implement a full range of compliance solutions
as their trusted AML solution provider.”
For further information on NICE Actimize’s integrated anti-money
laundering solutions and links to our webinar series, please go to
these additional resources:
- Registration for Transaction Monitoring
Webinar Series — by clicking here.
- On our Blog — Look for related topics
and thought leadership at www.niceactimize.com/blog.
- On our Culture of Compliance Website by
clicking here.
About Valley National BancorpValley National Bancorp is a
regional bank holding company headquartered in Wayne, New Jersey
with approximately $23 billion in assets. Its principal subsidiary,
Valley National Bank, currently operates over 200 branch locations
in northern and central New Jersey, the New York City boroughs of
Manhattan, Brooklyn, Queens and Long Island, and Florida. Valley
National Bank is one of the largest commercial banks headquartered
in New Jersey with Executive Offices in Manhattan and West Palm
Beach. For more information about Valley National Bank and its
products and services, please visit a convenient branch location,
valleynationalbank.com or call our 24/7 Customer Service Team at
800-522-4100.
About NICE ActimizeNICE 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 NICENICE (Nasdaq:NICE) is the worldwide 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 StatementsThis 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. Friscia, 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: http://www.businesswire.com/news/home/20170327005392/en/
Press Contact:NICE ActimizeCindy Morgan-Olson,
+1-551-256-5000cindy.morgan-olson@niceactimize.comorInvestors:NICE
Ltd.Marty Cohen, +1-551-256-5354ir@nice.comYisca Erez,
+972-9-775-3798ir@nice.com
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