NICE Actimize Augments its Anti-Money Laundering Solutions with Real-time AI Entity Resolution For More Effective Financial Crime Detection
Financial services organizations gain increased confidence with a trusted record of their entities and their associated risks
September 28th, 2021
Hoboken, N.J., September 28, 2021 - Securing a single, accurate record of customer information has become increasingly important as anti-money laundering programs shift from transactional analysis to a more focused, customer-centric analysis. Addressing this market concern, NICE Actimize, a NICE business (Nasdaq: NICE), today announced that it has augmented its industry-leading, holistic anti-money laundering solutions with real-time entity resolution capabilities from Senzing, an innovator in the entity resolution space. NICE Actimize will integrate the capability into its Anti-Money Laundering suite of solutions including Suspicious Activity Monitoring (SAM) and Customer Due Diligence (CDD-X).
With integrated entity resolution now at the core of NICE Actimize AML solutions, financial services organizations will identify entities, find elusive as well as non-obvious relationships, and more accurately detect suspicious activity. To accomplish this, NICE Actimize is adopting entity resolution technology from Senzing. Senzing technology supports entity resolution despite data quality issues and better detects entity obfuscation while providing full data lineage for transparency, explainability and audit. The entity resolution engine identifies hidden connections between organizations and individuals, thereby enhancing risk management.
The combination of NICE Actimize’s market-leading AML and Case Management solutions with the proven entity resolution software from Senzing, will allow organizations to focus on their customers and their customers’ networks, providing the context needed today for more effective AML and risk management processes.
“We are seeing an increasing demand for entity resolution within financial crime programs and are excited to establish our partnership with Senzing. Through advanced entity resolution technology, NICE Actimize will further enhance its AML/KYC capabilities and provide greater confidence in monitoring and detecting suspicious activity,” said Craig Costigan, CEO, NICE Actimize.
“We are excited to partner with NICE Actimize, the industry’s leading financial crime platform,” stated Jeff Jonas, CEO, Senzing. “With real-time entity resolution, financial services organizations can gain confidence and trust that they have a more accurate record of their entities and their associated risk continuously throughout the entire customer lifecycle.”
For NICE Actimize customers, this partnership and technology integration provides the ability to more accurately identify suspicious parties, activities and transactions, and more quickly identify connected parties, dramatically reducing false positives and increasing monitoring effectiveness. In addition, the technology will provide more accurate entity details for analysts and investigators using NICE Actimize’s market leading alert and case management solution ActOne. Financial organizations needing a comprehensive understanding of customers and risk for faster, more precise investigations and outcomes now have access to gain increased efficiency and effectiveness for their anti-money laundering programs with the NICE Actimize suite of solutions enhanced with entity resolution from Senzing.
Senzing is a real‐time, artificial intelligence entity resolution software company that enables organizations to make better decisions faster with greater certainty and accuracy while reducing operational costs. Senzing powers organizations of all sizes to gain highly accurate and valuable insights about who is who and who is related to whom in datasets of all types and sizes and quickly spots non-obvious relationships to solve the key challenges experienced across key industries including Financial Services, Public Sector, Information Services and more. The company provides the ability to more effectively engage with customers, improve fraud detection, optimize investigative analysis, and increase accuracy for compliance mandates. To learn more, visit www.senzing.com or follow us on Twitter: @senzing and LinkedIn.
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.
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