About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

NICE Actimize Launches AI-Based AML Transaction Monitoring Platform

Subscribe to our newsletter

NICE Actimize has launched its Suspicious Activity Monitoring (SAM-10) solution, which uses AI techniques to apply multi-layered analytics to the AML transaction monitoring process. NICE Actimize reckons the approach is able to detect more suspicious activity while reducing false positives.

SAM-10 is an upgrade to NICE Actimize’s existing AML solution, and forms part of NICE Actimize’s Anti-Money Laundering suite of solutions. The new SAM-10 solution’s entity-centric AML approach delivers data to enrich profiles and multiple layers to segment, monitor, and ensure that only truly suspicious activity is identified.

SAM-10 also offers next-generation analytics, including machine learning for advanced anomaly detection, model optimization, and network risk analytics, helping to detect suspicious relationships and transaction patterns accurately.

According to NICE Actimize CEO Craig Costigan, “For financial institutions to be more effective, monitoring technology that explores relationships with connected parties, understands suspicious connections, and accurately follows the flows of funds has become increasingly important.” With its collective intelligence capability, SAM-10 optimizes detection thresholds, and can quickly develop new models based on industry-wide learnings, with all artifacts delivered for easy explainability and model risk management reviews.

While increasing the identification of suspicious activity, SAM-10 supports regulatory compliance and improves alignment to a risk-based approach to transaction monitoring. This approach means fewer false positives and more meaningful, truly suspicious alerts so that investigation teams can focus their efforts on risk.

Nice Actimize says SAM-10s other main benefits include:

  • Enhanced Coverage: With NICE Actimize’s extensive catalogue of out-of-the-box detection models, advanced analytics, and network risk detection, SAM-10 extends and enhances detection coverage across all industry verticals, especially in helping identify suspicious connections between transaction counterparties using new network risk analysis detection.
  • Faster Investigations: Improved entity insights provide richer information and improved UI. The solution also offers network exploration capabilities for a visual understanding of relationships.

Flexible Deployment: Deployment options include on-premise or SaaS.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to automate entity data management and due diligence to ensure efficiency, accuracy and compliance

Requesting, gathering, analysing and monitoring customer, vendor and partner entity data is time consuming, and often a tedious manual process. This can slow down customer relationships and expose financial institutions to risk from inaccurate, incomplete or outdated data – but there are solutions to these problems. This webinar will consider the challenges of sourcing and...

BLOG

UAE Commercial Bank International Selects Bloomberg MARS for Risk Management

Commercial Bank International (CBI), a national bank in the UAE, has selected Bloomberg’s Multi-Asset Risk System (MARS) modules for counterparty risk, market risk and valuation. The bank previously adopted MARS Front Office to help its LIBOR transition. The three additional modules make MARS the bank’s primary risk management system. The MARS counterparty risk (XVA) module...

EVENT

TradingTech Summit London

Now in its 13th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...