NICE Actimize’s next-generation KYC/CDD
solution leverages AI and machine learning to provide accurate
customer risk scoring and reduce compliance risk
NICE Actimize, a NICE (NASDAQ: NICE) business, has
been ranked by global advisory and consulting firm Quadrant
Knowledge Solutions as a top performing Know Your Customer/Customer
Due Diligence (KYC/CDD) Technology Leader in its recently released
“SPARK Matrix™: Know Your Customer (KYC) Solution, 2022” report.
The Quadrant Knowledge Solutions study, which provides competitive
analysis and a ranking of the leading KYC vendors in the form of
its proprietary SPARK Matrix, scored NICE Actimize and its
consolidated KYC/CDD solutions the highest across the performance
parameters of technology excellence.
To download a copy of the complimentary report, please click
here.
Summarizing key strengths for NICE Actimize, the Quadrant
Knowledge Solutions SPARK Matrix™ report noted, “The company offers
a next-generation KYC/CDD solution titled CDD-X that leverages AI
and ML technologies to provide accurate customer risk scoring and
reduce compliance risk. CDD-X’s key KYC capabilities and
functionalities include customer onboarding, data intelligence,
identity resolution, customer risk screening, ultimate beneficial
ownership, simulation, entity profiling and entity scoring.”
“The NICE Actimize next-generation KYC/CDD solution provides
complete customer lifecycle risk coverage, including integrated
data intelligence, identity resolution, extensive out-of-the-box
risk models, dynamic segmentation and risk scoring, simulation, and
full auditability to help organizations fully understand their
customers, their customers’ connections, and any associated risks,”
said Pradnya Gugale, Analyst, Quadrant Knowledge Solutions.
“Once again, we recognize NICE Actimize’s extensive technology
innovation and leadership in driving the adoption of advanced KYC
solutions.”
Outlining one of NICE Actimize’s important CDD-X solution
differentiators, the report stated, “CDD-X provides real-time
entity resolution capabilities to ensure a single view of the
customer by identifying and resolving duplicated entity records and
entity obfuscation. This capability also uncovers hidden
relationships and networks for a more comprehensive understanding
of the customer and their risk. CDD-X also provides customer risk
screening through full integration with Actimize’s party screening
solution, WL-X. The integrated solution ensures all customers and
prospects are fully screened for relevant risks directly through
the CDD-X platform.”
The Quadrant Knowledge SPARK Matrix report explained, “NICE
Actimize’s CDD-X delivers data from premium and public data
sources, via NICE Actimize’s X-Sight DataIQ solution, (actionable
customer intelligence) to equip financial institutions with
comprehensive and enriched intelligence on customers and
counterparty risks throughout onboarding and KYC processes. X-Sight
DataIQ aggregates external data sources and continuously monitors
these sources for changes, such as updates in global sanctions, PEP
status, corporate ownership or directorship, enforcement lists, and
adverse news. The solution enables organizations to enrich customer
and counterparty profiles with the latest intelligence and allows
them to quickly act on opportunities and threats throughout the
customer lifecycle.
“NICE Actimize’s AI-powered KYC/CDD solutions support our
financial services organizations as they place a stronger emphasis
on establishing a risk-based approach to fighting financial crime,”
said Craig Costigan, CEO, NICE Actimize. “Our solutions
provide an unparalleled ability to access true and transparent
business intelligence around customers and entities while managing
critical compliance challenges and providing complete customer
lifecycle coverage without compromising customer experience.”
The Quadrant Knowledge report concluded, “In terms of future
roadmap, NICE Actimize plans to continue taking an entity-centric
approach, allowing financial service organizations to look at each
entity’s risk holistically across financial crime compliance
verticals. The product roadmap includes the expansion of current
onboarding capabilities to have more dynamic, out-of-box, and
intelligent onboarding processes that leverage Actimize’s
integrated data intelligence for a better customer experience.”
The report also observed, “The company also plans to continue
strengthening data availability and capabilities. X-Sight
Marketplace & X-Sight DataIQ will continue to add data sources
that help customers enrich their entity profiles and obtain a
holistic view of entity risks. The company continues to invest in
improving its network analytics capabilities to offer an advanced
assessment of network risk. Lastly, the company is focused on
developing a solution-agnostic centralized risk profile and scoring
solution that synchronizes risk inputs across financial crime
verticals to democratize risk information and improve financial
crime risk prevention, monitoring, and detection.”
For additional information: please read more about NICE
Actimize’s comprehensive anti-money laundering suite
here.
About Quadrant Knowledge Solutions Quadrant Knowledge
Solutions is a global advisory and consulting firm focused on
helping clients in achieving business transformation goals with
Strategic Business and Growth advisory services. At Quadrant
Knowledge Solutions, our vision is to become an integral part of
our client’s business as a strategic knowledge partner. Our
research and consulting deliverable is designed to provide
comprehensive information and strategic insights for helping
clients formulate growth strategies to survive and thrive in
ever-changing business environments.
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/20220519005277/en/
Corporate Media Contact: Cindy Morgan-Olson, +1 646 408
5896, NICE Actimize, cindy.morgan-olson@niceactimize.com, ET
Investors Marty Cohen, +1 551 256 5354, ir@nice.com, ET
Omri Arens, +972 3 763 0127, ir@nice.com, CET
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