TONIK, a Singapore-based pure play licensed digital bank, has selected the Essentials Anti-Money Laundering solutions suite from NICE Actimize to support the development of a secure banking environment for its new customer base following approval to establish a regulated bank in the Philippines. One of the first digital-only banks in the region in the Southeast Asian region, TONIK will use AML Essentials (a cloud-based offering that is built upon NICE Actimize’s end-to-end anti-money laundering platform) to address the challenges of digital transformation. The product suite includes Transaction Monitoring, Customer Due Diligence, and Sanctions Screening capabilities.
A-Team Insight Briefs
Singapore Bank Selects NICE Actimize’s AML Essentials to Launch Digital Platform
Recorded Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking
Screening for adverse media coverage of counterparties presents an incredible opportunity for financial institutions to limit risk exposures and identify bad actors early. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer clear of potential connections with sanctioned activity...
The appointment late last month of HSBC UK’s former head of financial crime compliance, Allan Clare, as senior advisor is the latest in a series of high-level appointments by financial crime risk and compliance specialist Plenitude Consulting. The hires come as the firm ramps up its RegSight obligations management platform, which helps firms identify rules...
Now in its 6th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...