NICE Actimize to Support UAE Exchange with Financial Crime Solutions Addressing Anti-Money Laundering and Integrated Fraud Management

“At UAE Exchange, our objective has always been to strengthen our ability to fight financial crime by investing in proven compliance and monitoring systems,” said Promoth Manghat, CEO, UAE Exchange. “We were looking for AML sanction screening, customer due diligence and transaction monitoring systems that could be implemented across our branches globally. These solutions are being customized and integrated with our own technology architecture, transaction systems and fraud management so as to reduce monitoring costs, improve investigative efficiency and provide comprehensive regulatory coverage. We are glad to associate with NICE Actimize and further augment our compliance program.”

Core to UAE Exchange’s new corporate compliance implementation will be NICE Actimize’s Suspicious Activity Monitoring, Customer Due Dilgence and Watch List Filtering capabilities. With these solutions, the financial institution will leverage improved analytics within the Actimize transaction monitoring system to increase flexibility during the customer on-boarding process.

The enhanced functionality available within Actimize’s Suspicious Activity Monitoring and Customer Due Diligence solutions will allow the institution to more efficiently address evolving money laundering and terrorism financing threats. These systems, coupled with the Actimize Integrated Fraud Management Platform, will also provide UAE Exchange real-time alerts for money laundering and fraud scenarios.

“As we expand our global footprint to leading financial institutions such as UAE Exchange, we are seeing an increased demand for solutions that provide a holistic, integrated approach to fighting financial crime across anti-money laundering, terrorist financing and fraud,” said Joe Friscia, President of NICE Actimize. “At the same time, our customers want to implement solutions that reduce operational risk while reducing total cost of ownership.”

“Our team of former compliance officers and other subject matter experts stays current with the rapidly evolving global regulatory environment,” said Ed Sander, Global VP and General Manager, Anti-Money Laundering, NICE Actimize. “We believe that the mission of UAE Exchange and NICE Actimize are perfectly aligned in their common objective to protect financial institutions and their customers in emerging markets from a range of financial crimes, including money laundering schemes and similar concerns.” 

 

For more information on NICE Actimize’s proven Financial Crime and Compliance Solutions in Fraud Prevention, Anti-Money Laundering, Financial Markets, and Enterprise Risk Management please visit our web site.

UAE Exchange is a leading global remittance, foreign exchange and payment solutions brand. It is also the widest globally networked remittance brand with over 750 branches spread across 31 countries in 5 continents. Its strong correspondent banking relationship with over 140 global banks adds to the might. Over 9000 professionals representing over 40 nationalities, strive to achieve excellence and bring delight to its over 7.9 million customers worldwide. This penchant for quality has won UAE Exchange the ISO certified brand and many other global awards for quality & business excellence. For more information, please visit www.uaeexchange.com.

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 Systems (NASDAQ: NICE) is the worldwide leading provider of software solutions that enable organizations to take the next best action in order to improve customer experience and business results, ensure compliance, fight financial crime, and safeguard people and assets. NICE’s solutions empower organizations to capture, analyze, and apply, in real time, insights from both structured and unstructured Big Data. This data comes from multiple sources, including phone calls, mobile apps, emails, chat, social media, video, and transactions. NICE solutions are used by over 25,000 organizations in more than 150 countries, including over 80 of the Fortune 100 companies. www.nice.com.

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