The advanced watch list filtering solution
features real-time screening for parties and payments that leverage
AI and biometrics to match and screen for global sanctions
Financial services organizations are increasingly challenged to
efficiently screen parties and payments against required sanctions
lists. With these requirements in mind, NICE Actimize, a NICE
(Nasdaq: NICE) business, announces the launch of WL-X, its
breakthrough, next-generation Watch List (WL) screening solution
leveraging the power of artificial intelligence for superior data
management, advanced screening capabilities and frictionless
customer onboarding.
NICE Actimize’s WL-X features real-time and on-demand screening
for parties and payments that leverages AI and biometrics to match
and screen against global sanctions, politically-exposed persons
(PEPs), adverse media and other lists. The solution also
orchestrates and aggregates list data from premium and public
sources with internal lists providing full auditability to ensure
accurate screening.
Serving as the foundation for data-driven, advanced screening
processes, NICE Actimize’s WL-X solution expedites customer
onboarding while reducing friction.The advanced solution also
offers best-in-class detection featuring advanced facial
biometrics, intelligent payment parsing in compliance with
ISO20022, and the industry’s most advanced culture/name matching
technology.
“Sanctions screening is a critical function across AML
operations, but it still relies on traditional technology and
workflows,” said Neil Katkov, PhD, Head of Risk, at research and
advisory firm Celent. “It makes sense to apply the
next-generation technologies that are already transforming
investigation and other areas of AML to these legacy-burdened
processes.”
“NICE Actimize’s innovative screening technology supports
financial services organizations looking to boost accuracy and
efficiency while complying with global regulations,” said Craig
Costigan, CEO, NICE Actimize. “A cost-effective anti-money
laundering compliance program includes advanced screening
capabilities to reduce regulatory risk, generate high quality
matches with lower false positives while speeding operational
efficiency. And with NICE Actimize WL-X technology, organizations
get all of these benefits.”
Additional features of the next generation NICE Actimize WL-X
solution include:
- Real-time and batch screening capabilities which adhere to
regulatory obligations for new and current customers, their
counterparties and payments.
- Seamless access to aggregated, normalized and verified data
from multiple lists sourced from a comprehensive selection of
premium and public data sources.
- The use of advanced fuzzy matching technologies plus facial
biometrics for precise matching capabilities.
- Machine-learning driven model optimization to adapt and ensure
low false positives.
- Full controls across the AML value chain from onboarding to
ongoing monitoring and any ad-hoc checks along the way.
NICE Actimize Autonomous Anti-Money Laundering Suite NICE
Actimize’s Autonomous AML modernizes AML programs through a unique
combination of AI, machine learning, domain expertise, Intelligent
Automation and visual storytelling to better combat
money-laundering and terrorist financing. It keeps programs
up-to-date with regulatory compliance while creating a single
integrated view of the customer. In addition to the new WLF-X
solution, the suite includes solutions for Suspicious Activity
Monitoring, Customer Due Diligence/KYC, Suspicious Transaction
Activity Reporting (STAR), Currency Transaction Reporting (CTR) and
X-Sight ActimizeWatch, a secure cloud-based managed analytics
service that delivers laser-sharp financial crime detection by
actively monitoring analytics performance.
For more information, please visit our web site here.
To join NICE Actimize’s webinar, “Transforming Sanctions
Screening: A Discussion with Celent,” please register 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,”
“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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210211005348/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
Yisca Erez +972 9 775 3798, CET, ir@nice.com
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