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

Upcoming Webinar: Fighting fraud and financial crime with RegTech

Date: 24 June 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes 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...

BLOG

Mirato Raises $9 Million to Fund AI-Based Supplier Risk Platform

In another indicator of the market’s acceptance of AI, Tel Aviv-based Mirato has raised $9 million to support the development and commercialization of its third-party risk management (TPRM) platform. With regulators intensifying their scrutiny of financial institutions’ relationships with external suppliers – with regulations like GDPR addressing privacy concerns, for instance – Mirato’s offering helps...

EVENT

Data Management Summit USA Virtual

Now in its 11th year, the Data Management Summit USA Virtual explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

The Trading Regulations Handbook

Need to know all the essentials about the regulations impacting trading infrastructure? Welcome to the first edition of our A-Team Trading Regulations Handbook which provides all the essentials about regulations impacting trading operations, data and technology. A-Team’s Trading Regulations Handbook is a great way to see at-a-glance: All the regulations that are impacting trading technology...