NICE Actimize’s use of artificial intelligence
and machine learning technology helps firms remain compliant in an
ever-changing regulatory landscape
NICE Actimize, a NICE (Nasdaq: NICE) business, was named
“Technology Vendor of the Year” in the 2021 AsiaRisk Technology
Rankings. AsiaRisk is part of Risk.net, a leading financial risk
management news and content provider, a sponsor of these awards,
and a publication of the InfoPro Digital Group which also includes
market-leading media and analyst brands WatersTechnology and
Chartis Research.
This year’s “Technology Vendor of the Year” award acknowledged
NICE Actimize’s leadership in both Holistic Trade Surveillance and
Anti-Money Laundering (AML) capabilities noting its specific
strengths and innovation in artificial intelligence and machine
learning. NICE Actimize solutions, whether it is holistic
surveillance or anti-money laundering, are built on a common open
and extendible platform that provides functionality, stability, and
robustness across the NICE Actimize portfolio.
Blake Evans-Pritchard, Bureau Chief Asia, Risk.net,
stated, “NICE Actimize continues to innovate and integrate emerging
technologies, such as artificial intelligence and machine learning,
to better its solutions and provide financial firms with a holistic
conduct surveillance and anti-money laundering offering. The judges
were impressed with its use of technology to help firms remain
compliant in an ever-changing regulatory landscape and strengthen
firms’ effectiveness in fighting financial crime.”
A key driver of NICE Actimize’s platform is enabling the use of
advanced analytics, machine learning and AI wherever they can be
leveraged. NICE Actimize’s philosophy for ownership and development
of advanced AI is to meet the financial institution customer at
whatever stage they are in for their analytics and AI journey. NICE
Actimize’s systems allow customers to either plug in their own AI
models, an approach that fits with its more advanced customers, as
well as use NICE Actimize or other vendors in an ad-hoc fashion to
consume externally developed AI.
“With powerful AI and machine learning capabilities, our
financial crime solutions portfolio in both AML and surveillance
identifies and quantifies risks and helps our clients meet
compliance requirements quickly,” said Craig Costigan, CEO, NICE
Actimize. “We thank the AsiaRisk judging team for honoring our
innovation and commitment to risk management.”
NICE Actimize’s combination of expert rules required for
regulatory compliance and machine learning analytics complement its
domain expertise. The combination of both lower false positives and
improved predictability in anti-money laundering using AI
technologies dramatically improves the efficiency of AML teams,
making NICE Actimize highly sought as a solution provider.
NICE Actimize’s SURVEIL-X Holistic Surveillance solution
eliminates siloed decision-making by leveraging AI-powered
predictive algorithms to analyze data across a wide range of
behavioral, trading and communication risk factors to identify
unusual behavior. By analyzing all of these factors together and
using supervised and unsupervised machine learning to co-relate
these early warning signals to past known rogue trading cases,
SURVEIL-X Holistic Surveillance is able to accurately assess each
regulated employee’s risk and assign an associated risk score.
This year’s awards competition addressing innovation and product
excellence weighed a number of factors including risk management
and compliance capabilities, innovation, quality of service, and
engagement with regulatory issues.
For further information:
- Read the media coverage on Risk.net citing NICE Actimize’s
expertise by clicking here.
- NICE Actimize’s Surveil-X Holistic Conduct Surveillance
Solutions, please click here.
- NICE Actimize’s Consolidated Anti-Money Laundering platform,
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 With NICE (Nasdaq: NICE), it’s never been
easier for organizations of all sizes around the globe to create
extraordinary customer experiences while meeting key business
metrics. Featuring the world’s #1 cloud native customer experience
platform, CXone, NICE is a worldwide leader in AI-powered
self-service and agent-assisted CX software for the contact center
– and beyond. Over 25,000 organizations in more than 150 countries,
including over 85 of the Fortune 100 companies, partner with NICE
to transform - and elevate - every customer interaction.
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,”
“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/20211018005385/en/
Corporate Media Contact: Cindy Morgan-Olson, +1 646 408
5896, ET cindy.morgan-olson@niceactimize.com
Investors: Marty Cohen, +1 551 256 5354, ET
ir@nice.com
Omri Arens, +972 3 763 0127, CET ir@nice.com
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