The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Nice Actimize Launches AI-driven Managed Analytics Service

Financial crime management specialist Nice Actimize has expanded ActimizeWatch, its secure cloud-based managed analytics service, to its Financial Markets Compliance solutions.

Leveraging its cloud-based financial crime risk management Platform-as-a-Service, X-Sight, ActimizeWatch provides scalable analytics automation and a two-prong approach that includes Model Optimization and Development Services and Anomaly Detection.

Both functions are offered as overlays to NICE Actimize’s Communications Surveillance, Markets Surveillance, and Sales Practices & Suitability solutions, and offer the ability to anonymously pool and leverage lessons learned across the collective intelligence of NICE Actimize customers, so firms can see larger threats at play in the marketplace and take steps to avoid them.

The Anomaly Detection function utilises unsupervised machine learning models to detect anomalies in monitored employee transactions and communications. These anomalies are then presented in dashboards to compliance analysts for further investigation. Confirmed risks are fed back into the detection models for further refinement, enhancement and retraining.

“In financial services, change can be unrelenting. When surveillance detection models don’t keep pace with change, firms risk falling out of compliance and unnecessarily driving up compliance costs,” says NICE EVP Chris Wooten. “ActimizeWatch’s analytics-as-a-service helps [them] get out in front of changing conditions and uncover hidden compliance risks without taxing resources.”

Related content

WEBINAR

Recorded Webinar: Fighting fraud and financial crime with RegTech

Financial fraud and crime continue to escalate causing significant damage to companies, countries and the global economy despite enormous efforts by firms and organisations in the financial services sector to identify and expel bad actors. As these bad actors use increasingly sophisticated techniques to break into financial institutions and extract both money and data, so...

BLOG

New Approaches to Surveillance and Due Diligence Post-Pandemic Feature Heavily at A-Team’s RTSV Conference

Surveillance in the new ‘work from anywhere’ environment and the drift toward continuous KYC due diligence emerged as key industry challenges during panel sessions at A-Team’s RegTech Summit Virtual online conference earlier this month. Delegates heard how surveillance professionals were struggling to deal with the mushrooming use of new collaboration channels and video-conferencing platforms. At...

EVENT

TradingTech Summit London

TradingTech Summit London will explore how trading firms are innovating in today’s cloud and digital based environment to create flexible, scalable trading platforms to support speed to market and business agility. Leveraging the cloud, AI and ML technologies to get an edge, automate processes and simplify operations in a cost effective way is the name of the game and will share practical insight from practitioners and technology leaders who are innovating and driving forward change in trading operations.

GUIDE

Entity Data Management Handbook – Fifth Edition

Welcome to the fifth edition of A-Team Group’s Entity Data Management Handbook, sponsored for the fourth year running by entity data specialist Bureau van Dijk, a Moody’s Analytics Company. The past year has seen a crackdown on corporate responsibility for financial crime – with financial firms facing draconian fines for non-compliance and the very real...