NICE Actimize Fraud Solutions Support Recent OCC Guidelines with Updated Risk Management Capabilities
27 Février 2020 - 12:30PM
Business Wire
NICE Actimize’s integrated fraud and AML
platform enables FSOs of all sizes and types to address key
elements of recent Bulletin guidance
NICE Actimize, a NICE (Nasdaq: NICE) business and the
leader in Autonomous Financial Crime Management, has updated its
fraud solutions portfolio including its Fraud Essentials, a
cloud-based fraud solution, to align with the fraud risk management
best practices recommended by recent guidelines issued by the
Office of the Comptroller of Currency (OCC). These guidelines
propose requirements consistent with the risk assessment and risk
profile of financial institutions and are designed to set an
overarching framework for fraud management.
The OCC guidance (OCC Bulletin 2019-37) prescribes a framework
strongly aligned with existing AML/BSA compliance and risk
management frameworks. The NICE Actimize Fraud Essentials solution,
based on an integrated Fraud and AML platform, enables all sizes
and types of FSOs to address each of the key requirements
recommended in the Bulletin through a single source, integrated
solution that may be integrated and launched rapidly through its
cloud-based deployment capability.
“While many large financial institutions currently have much of
the recommended OCC framework in place today, there are still many
mid-sized financial institutions that do not have all the pieces
prescribed in the Bulletin as part of their fraud program,” said
Craig Costigan, CEO, NICE Actimize. “As a comprehensive
integrated, turnkey solution, our offerings bolster fraud
management programs for FI’s of all sizes, preparing them to
address the OCC guidance.”
NICE Actimize Fraud Essentials leverages NICE Actimize's
market-leading payments fraud prevention, digital banking
protection, and case management capabilities to help firms address
monitoring, detection, reporting and governance requirements stated
in the OCC bulletin. Some of the key features of NICE Actimize’s
Fraud Essentials solution providing support to the OCC guidelines
include:
- An integrated platform that supports anti-money laundering
operations as well as fraud detection and prevention controls.
- Fraud risk management preventative controls like real-time
transaction analysis and behavioral analytics.
- Fraud risk management detection controls such as cross channel,
line of business and payment type fraud detection models.
- Fraud risk management measuring and reporting capabilities,
including out-of-the-box reports as suggested in the bulletin.
- Model Governance and auditing applications that fit the size,
complexity, organizational structure and risk profile of the
organization.
To learn more about the OCC Fraud Risk Management Guidelines,
please read our blog post, "The OCC and Fraud Risk: Leveraging AML
Frameworks to Manage Fraud." To review the OCC Bulletin 2019-37
addressing its Fraud Risk Management Guidelines, please click
here.
To learn more about NICE Actimize’s AML and Fraud Essentials
solutions, please click here.
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 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.
https://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. Costigan, 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/20200227005367/en/
Corporate Media Cindy Morgan-Olson, +1-551-256-5202,
cindy.morgan-olson@niceactimize.com
Investors Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Yisca Erez +972 9 775 3798, CET, ir@nice.com
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