As FSOs continue to work in remote
environments, the surveillance solution’s machine learning and
specialized analytics target hidden behavioral anomalies
With more employees working from home or remote sites, financial
services organizations (FSOs) are facing new compliance and
regulatory challenges. To reduce the growing risks associated with
employee misconduct and market abuse in this current environment,
NICE Actimize, a NICE (NASDAQ: NICE) business, today
announced the launch of SURVEIL-X Conduct, a package of
advanced machine learning-based applications to be offered through
its SURVEIL-X Holistic Surveillance suite which combines both trade
and communications surveillance capabilities. SURVEIL-X Conduct
helps FSOs assess, manage and mitigate a broad range of conduct
risks across the enterprise, even when employees are working
remotely.
One common roadblock FSOs face in detecting misconduct is the
inability to analyze and link data across surveillance and
analytics silos. NICE Actimize’s SURVEIL-X Conduct solution solves
these problems through machine learning and behavioral analytics
which analyze and link data across NICE Actimize’s best-of-breed
solutions, including Communication Recording and Archiving,
Employee Conflicts of Interest (ECOI), Deal Management, Trade
Surveillance, Communications Surveillance, Suitability
Surveillance, and Employee Fraud. SURVEIL-X Conduct also interfaces
with third-party data and surveillance applications, such as HR
systems and physical access logs.
“With instances of misconduct rising, and added concerns around
employees working remotely, especially regulated employees,
managing conduct risk has never been more challenging or critical,”
said Chris Wooten, Executive Vice President, NICE. “Tied to
this, senior executives at some FSOs now have broad accountability
for their employees’ conduct, due to regulations such as the UK’s
Senior Managers and Certification Regime (SM&CR). NICE
Actimize’s SURVEIL-X Conduct solution offers an unrivaled range of
advanced capabilities to help firms manage conduct risk and enforce
cultures of accountability.”
NICE Actimize’s SURVEIL-X Conduct solution provides 360-degree
visibility into misconduct and where it’s occurring – across teams,
departments, and/or divisions within the financial services
organization. Additional capabilities of SURVEIL-X Conduct
include:
- Risk dashboards: Using SURVEIL-X Conduct’s enterprise-wide
dashboards, senior level analysts and business executives instantly
know where the greatest risks lie, whether or not current controls
are working, and where more resources need to be allocated.
- Auto certifications: SURVEIL-X Conduct automates and tracks
processes around administering and tracking certifications, for
example as required by SM&CR. Alerts are automatically
generated when regulated employees and business units fall out of
compliance with certification requirements.
- Whistleblower management: SURVEIL-X Conduct automates the
collection and tracking of whistleblower complaints securely, using
encryption to protect anonymity.
- Risk mitigation actions: SURVEIL-X Conduct incorporates
best-in-class case management and workflow automation to streamline
investigations, and ensure potential misconduct is consistently
investigated.
NICE Actimize’s SURVEIL-X offers unparalleled risk coverage for
buy-side and sell-side firms, insurance companies, crypto
exchanges, regulators and more by enabling accurate detection and
rapid, thorough investigation of market abuse, inappropriate sales
practices, conduct risk and otherwise undetectable compliance risks
to insulate firms from fines and reputational damage.
Learn more:
- For further information on SURVEIL-X, and SURVEIL-X Conduct
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.
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 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,”
“seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,”
“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 changes in economic and business conditions,
including as a result of the COVID-19 pandemic; competition;
successful execution of the Company’s growth strategy; success and
growth of the Company’s cloud Software-as-a-Service business;
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; the Company’s dependency on third-party cloud
computing platform providers, hosting facilities and service
partners;, cyber security attacks or other security breaches
against the Company; the effect of newly enacted or modified laws,
regulation or standards on the Company and our products and various
other factors and uncertainties discussed in our filings with the
U.S. Securities and Exchange Commission (the “SEC”). 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 SEC, 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/20200729005418/en/
Corporate Media Contact: Cindy Morgan-Olson,
+1-646-408-5896, NICE Actimize,
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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