Are your organization’s current AML controls allowing you to be agile and quickly react to new threats?
The NICE Actimize consolidated AML solution suite has an open and extensible architecture that grows and scales with your organization for long-term investment protection. With the latest technology innovations, financial crime activities are intelligently and efficiently correlated. Our “analytics everywhere” approach means every layer of our system is built with comprehensive out-of-the-box coverage for tuning, detection and investigations. As a result, you’ll see higher quality alerts, reduced false positives and effortless tuning, testing, data acquisition, and model deployment. Our self-sufficient solution helps you make confident, informed decisions while empowering your business to grow.
Governments and central banks across global jurisdictions are implementing economic relief packages, such as the U.S. CARES Act and the UK COVID Business Support Program, to address the needs and financial well-being of individuals and businesses impacted by the COVID-19 pandemic. This has resulted in an unprecedented influx of loan applications and the need to expedite Know-Your-Customer (KYC) processes, which are often manual and time consuming.
To address the heavy burden now placed on FSOs, NICE Actimize introduced KYC Xpress, an easy to deploy solution that provides a unique combination of automation and rich customer intelligence to expedite KYC processes, while adhering to mandatory regulatory compliance requirements.
Customer Due Diligence (CDD)
Provides complete and consistent life cycle coverage for the KYC/CDD process, including re-assessment of customer risk, periodic review, and enhanced due diligence (EDD). Firms can seamlessly identify, manage, and mitigate customer-related risks. Combined with Suspicious Activity Monitoring (SAM) and Watch List Filtering (WLF), analysts can easily perform reviews with immediate access to all customer data, relationships, historical activity, and prior alerts, and have all related entities automatically screened.
Suspicious Activity Monitoring (SAM)
Enables end-to-end coverage for the detection, scoring, alerting, workflow processing, and reporting suspicious activity. Focuses on the right issues and risks and automates processes while enabling analysts to be confident in their final decision. Combined with Customer Due Diligence (CDD), analysts have immediate access to customer information like occupation, beneficial owners, expected activity, and more.
Watch List Filtering (WLF)
Screens customers, related parties, and transactions against sanctions lists, and identifies politically exposed persons (PEPs) to avoid transacting with sanctioned entities or embargoed goods. Offers unique transliteration and fuzzy matching analytics, intelligent scoring, and alert consolidation to generate high quality hits with low false positives. Combined with CDD, reviewers can easily dig deep into customer details.
Suspicious Transaction Activity Reporting (STAR)
Automates and optimizes processes for suspicious activity reporting to global jurisdictions, including e-filing.
Currency Transaction Reporting (CTR)
Provides end-to-end management for FinCEN reporting of currency transaction reports (CTRs) and monetary instrument logs (MILs).
CipherTrace Armada™ provides the critical visibility needed for high-risk cryptocurrency blind spots by enabling your KYC processes to detect and uncover Virtual Asset Service Providers (VASPs) before onboarding them, and exposing the ones that may already exist in your system.
CipherTrace Armada offers the most comprehensive data feeds on the greatest number of VASPs, supplementing Suspicious Activity Monitoring (SAM) with access to the most complete view of all risks associated with transactional payment flows to and from crypto-entities.
ActimizeWatch for AML, delivered by X-Sight
A secure cloud-based managed analytics service that delivers laser-sharp financial crime detection by actively monitoring the analytics performance. Using machine learning and automation, the service optimizes rules and models to rapidly detect changing patterns.
Trade-Based Money Laundering (TBML)
Trade-based money laundering (TBML) occurs when criminals use cross-border trade to move illicitly gained financial proceeds. Current vulnerabilities exist where trade documentation is heavily paper-based and unstructured in multiple formats referring to people, companies, vessels, and more. As this is typical of most TBML processes today, FSOs must adjust their AML programs to combat such a growing threat.
The Complidata Document Auto-Extraction solution digitizes the paper process and achieves high accuracy immediately, without the need to retrain the system when new types of documents are presented or the format of existing ones change. Complidata adds the necessary intelligence to perform compliance risk checks on all parties of interest linked to a trade, including dual-use goods monitoring, vessels monitoring, red flags, and more.
AML by Industry
AML Solutions for Money Service Businesses. A proven suite of anti-money laundering solutions to help MSBs establish and enforce compliant processes and procedures.
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