NICE Actimize’s market-leading intelligent
analytics dramatically improve detection accuracy and reduce false
positives by up to 93%, while reducing compliance costs
As the volume and variety of regulated communications increase,
the supervision challenges and risks for financial services
organizations (FSOs) only become more complex. To address this,
NICE Actimize, a NICE (Nasdaq: NICE) business and the
leader in Autonomous Financial Crime Management, has
enhanced its Intelligent eCommunications Surveillance solution with
next generation machine learning capabilities, intelligent
analytics and investigative tools to strengthen surveillance
detection and case management, reduce false alerts, and drive down
compliance costs.
While today’s heightened regulatory requirements place greater
surveillance demands on FSOs, certain legacy surveillance
technology may make the job harder. For example, lexicon-based
surveillance systems (which focus on specific words rather than
understanding the communications’ context) can overwhelm compliance
analysts with false alerts, often leading FSOs to increase staff
size to manage this volume. Analysts may also spend inordinate
amounts of time manually reconstructing trades and managing
investigations. The latest release of NICE Actimize’s intelligent
eComms Surveillance solution addresses these challenges with
intelligent analytics to improve detection and accuracy.
Chris Wooten, Executive Vice President, NICE, stated:
“NICE Actimize is a pioneer in applying machine learning and AI to
communications surveillance, and over the past seven years we’ve
continued to enhance our capabilities in this area. Many leading
financial institutions, both on the buy-side and sell-side,
currently leverage our solutions to improve their compliance
programs’ detection accuracy, total cost of ownership and
efficiency. We’ve also been acknowledged by analyst firms for our
robust and comprehensive analytics capabilities and promising
roadmap. This newest release of our eCommunications surveillance
solution, with its next generation machine learning and our
award-winning ActOne investigation and case management solution,
brings communications surveillance detection and investigative
efficiency to a whole new level.”
In addition to the above benefits, NICE Actimize’s
Intelligent eCommunications Surveillance Solution, can:
- Reconstruct trades up to fifty times
faster (in minutes instead of days or weeks), so analysts spend
less time on manual work and more time proactively managing
risk.
- Reduce the cost of compliance by
automating compliance workflows and improving overall efficiency of
compliance analysts by up to 80 percent.
- Reduce regulatory and business risk by
using advanced machine learning techniques and Natural Language
Processing (NLP) driven analytics and models to automatically
review 100 percent of regulated employee communications.
- Achieve full compliance with MiFID II,
Dodd-Frank and FX Global Code regulations around communications
surveillance.
- Reduce Total Cost of Ownership (TCO)
through intelligent analytics and cloud deployment.
How Intelligent eComms Surveillance WorksThe new release
of Intelligent eCommunications Surveillance, which adds machine
learning classification on top of NICE Actimize’s already robust
Natural Language Processing speech and text analytics, enables FSOs
to more accurately detect risky communications and extract quote
and trade details from communications. As analysts review flagged
communications in the ActOne investigation and case management
interface, they’re now able to classify those communications based
on their relevancy, business topic and asset class. The system then
learns from this feedback, to bolster detection accuracy even
further.
The ActOne case management platform also applies automation and
intelligence to the compliance investigation process. Robotics
automate repetitive, manual investigative tasks, while
policy-driven workflows guide analysts through each action they
need to take. Analysts can also use ActOne to collaborate with
team-members, escalate cases, upload documents and notes, and share
detailed findings, resulting in significantly streamlined
investigations. The system can automatically reconstruct complete
trades in minutes, by instantly searching and correlating billions
of records across linked data sources (including trades, orders,
voice recordings and electronic communications).
Learn More:
- For more information on NICE Actimize's
Intelligence eComms Surveillance, please click here.
- To read Opimas’ report on Shortlisting
Trade Surveillance Solutions, please click here.
- For more information on the regulatory
outlook for eComms Surveillance, please click here.
- To register for upcoming webinars on
Analytics in Financial Crime and Compliance Management, please
click here.
- For additional inquiries, email NICE at
compliance@niceactimize.com
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190422005268/en/
Corporate Media ContactCindy Morgan-Olson, +1
551-256-5202, cindy.morgan-olson@niceactimize.com
InvestorsMarty Cohen, +1 551-256-5354,ET, ir@nice.com
Yisca Erez +972-9-775-3798, CET, ir@nice.com
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