To significantly reduce costs of compliance and increase detection accuracy
Autonomous Financial Crime Management addresses such complexities as changing regulatory requirements, mounting costs for personnel, and dramatic shifts in technology
In the face of mounting pressures on compliance departments at financial services organizations, NICE Actimize, a NICE business, is leading the revolution to more efficient and cost-effective financial crime and compliance operations with the debut of Autonomous Financial Crime Management. Addressing a paradigm shift where machine-led functions are driving operations, which are today performed manually, this innovative process will create a unique environment that more effectively addresses the challenges and pain points that financial services organizations are facing by allowing them to tailor their operations to lower costs and drive greater profitability, all while improving accuracy and throughput. Autonomous Financial Crime Management also allows organizations to configure which decisions to direct to human experts, supporting either semi-autonomous to fully autonomous operations.
By addressing such complexities as changing regulatory requirements, mounting costs for personnel, and dramatic shifts in technology, NICE Actimize’s Autonomous Financial Crime Management offers a unified view of risk through targeted utilization of big data, advanced analytics everywhere, artificial intelligence and Robotic Process Automation which enables these issues to be more effectively processed. Autonomous Financial Crime Management also streamlines and creates more productive use of personnel, therefore improving an organization’s overall effectiveness.
NICE Actimize’s innovative Autonomous Financial Crime Management approach relies on its deep domain knowledge and expertise in financial crime and compliance. This new method creates a seamless connection to data from anywhere, from any source at any volume, to work quickly to turn raw data into intelligence. This acquired intelligence is then used to detect, decide, investigate and resolve alerts and cases with limited human intervention, enabling financial services organizations to mitigate various types of financial crime with greater speed and accuracy.
Joe Friscia, President, NICE Actimize said, “Financial services organizations are facing a true paradigm shift. Where humans once drove and assisted machines to execute processes in financial crime management, the reverse is becoming true and machines are now driving operations, thereby creating dramatic gains in cost savings, creating vastly better models and improving detection accuracy. This rapid technology transformation, coupled with vast regulatory change, requires a new approach. NICE Actimize’s Autonomous Financial Crime Management leads the market and our customers into the future while providing a vision and strategy that streamlines the specialized operational requirements of financial crime fighting by unifying advanced analytics, machine learning and intelligent automation.”