NICE Actimize Enhances Sales Practices & Suitability Solution with Open Analytics for Daily Account Reviews
12 Avril 2018 - 12:30PM
Business Wire
Wealth management firms and registered
investment advisors can now create custom rules to automate daily
supervision of sales practices to comply with investment
suitability regulations
Wealth management firms and registered investment advisors are
increasingly finding themselves pressured when it comes to the
rigorous enforcement of Sales Practices & Suitability rules by
regulators. Vigilant supervision is essential, and firms are now
aware that numerous activities need to be monitored daily. To
address these challenges, NICE Actimize, a NICE
(Nasdaq:NICE) business and the leader in Autonomous Financial
Crime Management solutions, is enhancing its Sales Practices &
Suitability solution’s Open Analytics capabilities to enable firms
to create their own custom rules for automating daily sales
practice supervision based on their unique business requirements
without the added expense of professional services costs.
“Firms have different levels of risk tolerance, and such risks
as asset concentration not only need to be monitored on a monthly
basis but also on a daily basis,” said Chris Wooten, Executive Vice
President, NICE. “Firms also measure other activities, such as
supervision of accounts for high net worth individuals, missed
breakpoints and hybrid switching, on a daily basis. With our new
enhanced Open Analytics for daily reviews, firms now have the
flexibility to create daily supervision routines to support these
and other business practices. This is in addition to the wide range
of out-of-the-box analytics risk coverage provided by the NICE
Actimize Sales Practices & Suitability solution.”
NICE Actimize’s Sales Practices &
Suitability solution’s Open Analytics empowers compliance
managers to create their own monitoring rules ‘on the fly,’
eliminating the need for expensive and time-consuming custom
development and programming. With the addition of Open Analytics
for Daily Reviews, compliance managers can now configure custom
supervisory routines to run on a daily basis, in addition to on a
monthly or trade basis, which were available previously. As
irregularities are identified through the Open Analytics, alerts
are routed to compliance managers for investigation.
Daily supervision is essential from a regulatory standpoint.
Regulatory bodies around the world are stepping up their
enforcement of investment suitability regulations to ensure wealth
management firms and registered investment advisors are properly
managing investor wealth. Both IIROC (The Investment Industry
Regulatory Organization of Canada) and FINRA mandate daily reviews
of client accounts for undue risks and asset concentrations that
could harm investors.
“As a matter of good practice, firms want to ensure they are
properly managing their clients’ investments and wealth, but
regulations also impose suitability obligations to protect
investors and market integrity,” said Wooten. “Using the NICE
Actimize Sales Practices & Suitability solution’s Open
Analytics, firms can automate oversight and supervision of their
sales practices, improve their transparency and efficiency, and
ensure enterprise-wide compliance with investment suitability
regulations, cost-effectively, while staying on top of business
risks.”
For additional information:
- NICE Actimize’s Sales Practices
& Suitability solution, click here.
- NICE Actimize Autonomous Financial
Crime Management approach, click here
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 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 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. 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, 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: https://www.businesswire.com/news/home/20180412005544/en/
NICE ActimizeCorporate Media Contact:Cindy
Morgan-Olson,
+1-551-256-5000,cindy.morgan-olson@niceactimize.comorInvestorsMarty
Cohen, +1 551 256 5354, ETir@nice.comYisca Erez +972 9 775 3798,
CETir@nice.com
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