Waters Rankings 2019: Best AML Compliance Solution Provider: NICE Actimize
The United Nations Office on Drugs and Crime estimates that between $800 billion and $2 trillion dollars is laundered each year. Over the last two years, NICE Actimize has helped banks bolster their anti-money laundering (AML) capabilities by expanding its know-your-customer (KYC) and transaction-monitoring services. NICE Actimize was voted the best AML vendor at this year’s Waters Rankings thanks to its Autonomous AML Solutions Suite.
Over the last 18 months, NICE Actimize has improved its Suspicious Activity Monitoring (SAM) offering, which leverages robotic process automation (RPA) and machine learning (ML) to better weed out false positives and alert users to suspicious activity.
“We are trying to do a better job of detecting alerts or bad actions, making it easier and faster for people to investigate those alerts, and understand if they have to file suspicious activity reports or not,” says Stephen Taylor, general manager for AML at NICE Actimize.
NICE Actimize is working to further expand its machine-learning capabilities to improve its alert detection and investigation functions. It is also strengthening its customer due diligence (CDD) and watch-list filtering (WLF) products. It will also look to grow its X-Sight Marketplace, which aims to be a one-stop shop for financial crime solutions, similar to Apple’s App Store. In order to grow the product, it will look to partner with other content providers to create a more robust market.
“When we are talking about content, we are talking about sanctions lists, ultimate beneficial ownership information, negative news, and even ID verification biometrics,” Taylor says. “We are thinking about all of this information being pulled into our system to improve detection and the investigation process.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: Technology innovator of the year (vendor)—Christy Bremner, SS&C Technologies
Christy Bremner, senior vice president, Institutional & Investment Management (I&IM) division at SS&C Technologies, wins technology innovator of the year (vendor) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: EDM professional of the year—Neslihan Yegul, S&P Global Market Intelligence
Neslihan Yegul, vice president, head of EDM and thinkFolio at S&P Global Market Intelligence, wins EDM professional of the year in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology innovator of the year (end-user)—Laura Hamilton, Bank of America
Laura Hamilton, global head of corporate treasury, credit risk, climate risk, and financial forecasting technology at Bank of America, wins technology innovator of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (data and operations)—Joanna Davies, OSTTRA
Joanna Davies, head of trade processing at OSTTRA, wins vendor professional of the year (data and operations) in the 2024 Women in Technology and Data Awards.
Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg
Product: Bloomberg TOMS
Most read
- Waters Wavelength Podcast: S&P’s CTO on AI, data, and the future of datacenters
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- BMO’s cloud migration strategy eases AI adoption