NICE Actimize’s AML Solutions Chosen by Rakuten Securities to Improve Operational Efficiencies and Reduce Compliance Risk
NICE Actimize’s CDD-X will be leveraged to provide more accurate detection and customer risk scoring
May 27th, 2020
Hoboken, N.J., May 27, 2020 – NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, has been chosen by Rakuten Securities Inc., a major online brokerage operating throughout Japan and across Asia, to implement an innovative anti-money laundering compliance platform to protect and support its investor clients and meet regulatory requirements. Rakuten Securities will utilize industry-leading solutions from NICE Actimize’s Autonomous Anti-Money Laundering portfolio, initially rolling out the CDD-X Customer Due Diligence platform. This will be followed by Suspicious Activity Monitoring and Watch List Filtering solutions at a later date to help improve operational efficiencies and reduce costs.
An integral part of its Autonomous Anti-Money Laundering suite, NICE Actimize’s CDD-X Customer Due Diligence platform modernizes KYC/CDD programs with advanced analytics. Providing more accurate detection and customer risk scoring to reduce compliance risk, NICE Actimize’s CDD-X provides significant reductions in operational costs and offers key features beneficial for an online brokerage operation.
NICE Actimize’s CDD-X Customer Due Diligence solution also offers embedded automation capabilities that streamline tasks related to ultimate beneficial ownership (UBO), adverse media, data flow with customer relationship management (CRM) systems, and more. By enabling a curated set of pre-built connectors, CDD-X also leverages third party risk factors to increase the accuracy of customer risk ratings during onboarding and ongoing monitoring to provide more intelligence to analysts. Additionally, pre-built connectors make integration simple where data acquisition and aggregation has traditionally been difficult.
“As many financial institutions worldwide pursue a more data-driven, advanced approach towards anti-money laundering initiatives, we are confident that the capabilities of these new solutions will bring great value to both our operations and the customers we serve,” said Keisuke Ichihara, Director and Executive Officer, Rakuten Securities Inc. “NICE Actimize’s deep experience, accumulated through strong relationships with financial institutions, will help us achieve our objectives as part of our renewed anti-money laundering strategy.”
“NICE Actimize is excited to provide our advanced anti-money laundering solutions to Rakuten Securities, the online brokerage market leader in Japan and the greater Asia-Pacific,” said Craig Costigan, CEO, NICE Actimize. “As the AML regulatory landscape evolves and the criminals become more sophisticated, compliance teams need a solid AML program that meets these changing requirements, while reducing costs and improving operational efficiency. We look forward to providing Rakuten robust solutions that will help them address these challenges while staying ahead of market and regulatory changes.”
In addition, NICE Actimize’s Suspicious Activity Monitoring solution combines cutting-edge technology with human-expertise to ensure accurate alert detection, increased team productivity and lowered compliance program costs. Lastly, NICE Actimize’s Watch List Filtering capability, with its consistent, global sanctions screening and high-quality alerts, increases operational efficiency, reduces compliance costs, and assists in meeting regulatory requirements.
For additional information on NICE Actimize’s Autonomous anti-money laundering solutions, including CDD-X please click here.
About Rakuten Securities
Rakuten Securities, Inc. is one of the major online brokers in Japan and across Asia servicing over 2.6 million clients since 1999. Today with a comprehensive range of asset products including domestic and international cash equities, derivatives commodities, bonds, investment trusts, ETF and FX with foundations in the Japanese market.
Parent company Rakuten, Inc. is one of the world’s leading internet services companies with businesses in e-commerce, eBooks, travel, banking, securities, credit card, e-money, on-demand entertainment, online marketing and professional sports. Rakuten Group is expanding globally and currently has operations throughout Asia, Europe, the Americas and Oceania with over 7 billion in capital.
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.
NICE (Nasdaq: NICE) is the worldwide leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com
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