NICE Actimize Launches New Solution to Fight Financial Crime

Autonomous Financial Crime Management addresses such complexities as changing regulatory requirements, mounting costs for personnel, and dramatic shifts in technology

Illustration: Bigstock

Addressing a paradigm shift where machine-led functions are driving operations, which are today performed manually, NICE Actimize today released its Autonomous Financial Crime Management. According to the company, the new solution is designed to create a unique environment that more effectively addresses the challenges and pain points that financial services organizations are facing by allowing them to tailor their operations to lower costs and drive greater profitability, all while improving accuracy and throughput. Autonomous Financial Crime Management also allows organizations to configure which decisions to direct to human experts, supporting either semi-autonomous to fully autonomous operations.

By addressing such complexities as changing regulatory requirements, mounting costs for personnel, and dramatic shifts in technology, NICE Actimize’s Autonomous Financial Crime Management offers a unified view of risk through targeted utilization of big data, advanced analytics everywhere, artificial intelligence and Robotic Process Automation which enables these issues to be more effectively processed.

NICE Actimize’s new method creates a seamless connection to data from anywhere, from any source at any volume, to work quickly to turn raw data into intelligence. This acquired intelligence is then used to detect, decide, investigate and resolve alerts and cases with limited human intervention, enabling financial services organizations to mitigate various types of financial crime with greater speed and accuracy.

"Financial services organizations are facing a true paradigm shift," says Joe Friscia, President of NICE Actimize. "Where humans once drove and assisted machines to execute processes in financial crime management, the reverse is becoming true and machines are now driving operations – thereby creating dramatic gains in cost savings, creating vastly better models and improving detection accuracy. This rapid technology transformation, coupled with vast regulatory change, requires a new approach. NICE Actimize’s Autonomous Financial Crime Management leads the market and our customers into the future while providing a vision and strategy that streamlines the specialized operational requirements of financial crime fighting by unifying advanced analytics, machine learning, and intelligent automation."

You might be interested also

The new Sahand destroyer in Bandar Abbas, Iran (Photo: AP)

Iran Launched New Destroyer

The Iranian announcements of the new destroyer and mini-submarines are likely intended to boost Iran’s military image amid rising tensions with the United States