NICE Actimize Financial Markets Survey Reveals 82% of Respondents Agree That Behavioral Analytics Detects Hidden Threats Whil...
14 Août 2017 - 1:00PM
Business Wire
42% of firms confirmed that they would be
deploying behavioral analytics-based solutions and strategies in
the next 12 months
NICE Actimize, a NICE (Nasdaq:NICE) business and the
largest and broadest provider of a single financial crime, risk and
compliance software platform for the financial services industry,
released the findings of a new survey focused on behavioral
analytics technology and its role in reducing operational risk,
uncovering hidden threats, and enriching existing surveillance
programs in place at financial services firms. The survey showed
that 82 percent of respondents believe that behavioral analytics
detects conduct related threats that usually cannot be discovered
by traditional analytics. Moreover, this same percentage of
respondents agree or strongly agree that detecting hidden threats
also reduces operational risks and financial losses.
The NICE Actimize survey, titled “The Emergence of Behavioral
Analytics in Financial Markets Compliance,” stated that 65 percent
of respondents also recognized the value of behavioral analytics in
generating new, valuable insights solely from trade data (such as
orders and executions), with 42 percent of firms confirming that
they would be deploying behavioral analytics-based solutions and
strategies in the next 12 months.
The survey respondents stated that individuals – especially
traders, investment advisors and brokers – would be the focus of
their analysis. The most common behavioral factors that they would
like to measure are abnormal changes in an individual’s
communication method, trading hours and positions. Additionally, 91
percent agreed that viewing alerts generated by traditional
analytics and behavioral data together will accelerate their
investigations processes.
“Operational risk is often heightened because of an inability to
detect suspicious behaviors or improper market conduct. Mitigating
these risks requires analysis of behavior patterns which often
uncovers hidden violations and the individual parties who may be
intent on doing harm, such as insider trading or market abuse
activities,” said Joe Friscia, President, NICE Actimize.
“Behavioral analytics helps firms detect such threats, and can
provide a positive impact on risk teams, compliance and front
office operations."
About 70 percent of respondents indicated that they want to
purchase their behavioral analytics solutions from a vendor or from
a mix of homegrown and vendor-supplied analytics. Only 15 percent
stated that they wanted to build their solutions themselves.
Approximately 60 respondents from global financial institutions,
including broker/dealers and investment banks, participated in the
survey. By region, approximately 36 percent were from Europe, 22
percent from APAC, and 14 percent from North America. By functional
area, 31 percent were compliance; 19 percent technology; and 14
percent risk-related personnel. By asset class, 24 percent worked
in equities, 15 percent in fixed income, 14 percent in FX, 11
percent in swaps, and 10 percent in options.
NICE Actimize recently introduced its Holistic Behavioral
Analytics solution designed to help financial institutions uncover
conduct-related threats that traditional analytics are not designed
to detect. The new solution transforms existing compliance
processes by discovering risks that lie in enterprise silos, a
critical step in mitigating losses, thereby protecting a firm’s
reputation and meeting regulatory obligations.
Please click here to download the full copy of the survey.
Related assets:
- Solution Video: Actimize Holistic
Behavioral Analytics
- Background: Behavioral Analytics
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 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 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. 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/20170814005295/en/
NICEMediaCindy Morgan-Olson, +1 551 256 5202
(ET)cindy.morgan-olson@niceactimize.comorInvestorsMarty
Cohen, +1 551 256 5354 (ET)ir@nice.comorYisca Erez, +972 9 775 3798
(CET)ir@nice.com
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