The award acknowledged NICE Actimize’s
Suspicious Activity Monitoring solution and its ability to address
regulatory problems facing the Asia-Pacific market
NICE Actimize, a NICE (NASDAQ: NICE)
business, was named a category winner in A-Team Group's 2024
RegTech Insight APAC awards for “Best Transaction Monitoring
Solution.” Shortlisted by a panel of judges, NICE Actimize and its
solution was the recipient of the most online votes in its category
derived from reader/online nominations from within the RegTech
Insight community and verified by A-Team Group editors and its
independent RegTech advisory board.
For its second consecutive year, these awards recognize leading
providers of RegTech solutions that have successfully improved
firms’ abilities to address the challenges of the evolving, complex
regulatory requirements across the global financial services
industry within the Asia-Pacific region.
NICE Actimize’s Suspicious Activity Monitoring (SAM) offers
multiple layers of defense, using the latest technology
advancements to ensure comprehensive monitoring and detection of
suspicious activity. SAM ensures rapid detection of potentially
illicit transactions, using advanced machine learning algorithms to
guarantee precision. This system enhances a financial institution's
ability to deliver its transaction monitoring program as
efficiently and effectively as possible while offering a wide range
of coverage. In doing so the financial institution is able to spot
and manage risk, stay ahead of regulatory requirements and maintain
the trust of its stakeholders.
The solution’s entity-centric AML approach delivers data to
enrich profiles and multiple layers to segment, monitor, and ensure
that true suspicious activity is identified. NICE Actimize’s
Suspicious Activity Monitoring also offers next-generation
analytics, including machine learning for advanced anomaly
detection, model optimization, and network risk analytics,
detecting suspicious relationships and transaction patterns
accurately.
“The Asia-Pacific region faces disparate technology and
regulatory requirements since the region encompasses many countries
and cultures. As a result, many financial institutions in APAC
struggle with high false positive rates and poor investigation
efficiencies,” said Craig Costigan, NICE Actimize. “We thank
the judges and voters for the RegTech Insight Awards for
recognizing the innovation in transaction monitoring that we bring
to the Asia-Pacific region.”
Angela Wilbraham, CEO at A-Team Group, and host of the
2nd annual RegTech Insight Awards APAC 2024 commented, “These
awards celebrate providers of leading RegTech solutions, services
and consultancy across Asia-Pacific. The winners were selected by
A-Team Group’s RegTech Insight community and demonstrate
exceptional creativity in building solutions that solve regulatory
challenges. Our congratulations go to NICE Actimize for winning
Best Transaction Monitoring Solution.”
NICE Actimize anti-money laundering solutions, including its
Suspicious Activity monitoring solution (SAM) addresses the
significant regulations in the APAC region, including those from
The Monetary Authority of Singapore, Australian regulations such as
AUSTRAC, Japan’s JFSA, Indonesia’s OJK, and more.
To read our report, “SAM: An Evolution in Transaction Monitoring
A Multilayered Defense to Strengthen Transaction Monitoring,”
please click here. To read our eBook, :Six Transformative Steps to
Evolve Your Transaction Monitoring, 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;
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
in making additional acquisitions or 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; privacy
concerns; changes in currency exchange rates and interest rates,
the effects of additional tax liabilities resulting from our global
operations, the effect of unexpected events or geo-political
conditions, such as the impact of conflicts in the Middle East that
may disrupt our business and the global economy; 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/20240801915093/en/
Corporate Media: Cindy Morgan-Olson, +1 646 408 5896,
media@nice.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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