Nordics-based digital bank is leveraging a
comprehensive suite of AI-driven AML solutions to provide greater
customer protections
NICE Actimize, a NICE (NASDAQ: NICE) business,
today announced that TF Bank, Sweden, has chosen NICE Actimize AML
Essentials, a cloud-based offering of end-to-end anti-money
laundering (AML) solutions, to elevate the digital bank’s financial
crime prevention program. The AI-driven AML solutions include
Transaction Monitoring, Customer Due Diligence, and Screening. TF
Bank is a digital bank offering consumer banking services and
e-commerce solutions through a proprietary IT platform with a high
degree of automation.
NICE Actimize’s AML Essentials offers rapid deployment and
reduces overhead to support compliance at a lower total cost of
ownership. Citing several objectives for its financial crime
prevention and anti-money laundering program, TF Bank noted that it
was seeking to effectively address global regulations and bring
efficiencies to its digital banking initiatives. NICE Actimize
solutions were also chosen to accelerate the automation of manual
work.
“NICE Actimize continues to invest to support our customers
globally, applying our financial crime prevention expertise and
SaaS solutions to meet critical needs,” said Craig Costigan,
CEO, NICE Actimize. “We look forward to supporting TF Bank and
its future growth as it pursues its goals to better protect
customers utilizing our advanced suite of AML offerings.”
“As our digital bank implements an advanced anti-money
laundering strategy propelled by the innovative SaaS solutions
provided by NICE Actimize we will protect our banking customers and
provide greater capabilities to support our analysts as they strive
to become more efficient,” said Joanna Badawy, Head of
Anti-Money Laundering, TF Bank.
NICE Actimize’s entity-centric approach effectively monitors
money laundering risks across the customer lifecycle. The
Transaction Monitoring functionality optimizes monitoring and
detection to improve effectiveness and route high-risk alerts to
the right team at the right time. Suspicious Activity Monitoring
(SAM) provides AML-tailored analytics for flexible and
comprehensive coverage of money laundering red flags.
The Screening function provides pinpoint accurate screening
results with advanced matching and AI for party and real-time
payments screening. NICE Actimize’s KYC/CDD/EDD capabilities
leverage event-based triggers to streamline customer risk
assessments and reviews for a more complete understanding of
customer risk.
For more information on NICE Actimize’s entity-centric AML
solutions infused with AI and machine learning, please click
here.
About TF Bank TF Bank was founded 1987 and is a digital
bank offering consumer banking services and e-commerce solutions
through a proprietary IT platform with a high degree of automation.
Deposit and lending activities are conducted in Sweden, Finland,
Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany,
Austria, Spain, Ireland and the Netherlands through subsidiary,
branch or cross-border banking with the support of the Swedish
banking license. The operations are divided into three segments:
Credit Cards, Ecommerce Solutions and Consumer Lending. TF Bank is
listed on Nasdaq Stockholm.
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/20241121282034/en/
Corporate Media Contact 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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