Finastra gains access to NICE Actimize AML and fraud solution

Rick Steves

The AI-powered platform provides AML and fraud solutions, with real-time behavioral analytics and machine learning capabilities.

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NICE Actimize has partnered with Finastra in order to deliver its Xceed cloud-native financial crime platform to Finastra’s customer base, via its FusionFabric.cloud open innovation platform.

The AI-powered platform provides AML and fraud solutions, offering financial crime and compliance with real-time behavioral analytics and machine learning capabilities.

Vincent Pugliese, SVP and General Manager, Platform at Finastra, said: “We look forward to adding NICE Actimize’s advanced cloud-native integrated financial crime platform to our FusionFabric.cloud ecosystem.

“Together, we are leading the way in which applications are written, deployed, and consumed in financial services to evolve with the changing needs of our clients – who face mounting pressure to deliver increased innovation, agility, and ROI. We are excited about our partnership and believe that through the combination of our cloud-based technologies we will help our clients to deliver upon these objectives.”

Craig Costigan, CEO, NICE Actimize, added. “We are pleased to partner with Finastra, creating a unique combination of proven expertise with best-in-class innovation leveraging both Artificial Intelligence and the cloud, while further presenting a major opportunity to support financial services organizations of all sizes, particularly targeting the needs of mid-markets FSOs.”

NICE Actimize has recently launched WL-X, a Watch List (WL) screening solution for data management, screening capabilities, and frictionless customer onboarding, using artificial intelligence.

In February, NICE Actimize also introduced a solution against synthetic and stolen identity fraud which also addresses the increased fraudulent activity in options trading via account takeover and identity theft – a pressing issue within the industry as FINRA warned firms to take measures against these crimes, otherwise it may trigger legal or regulatory obligations for firms housing either the victim or profiting accounts.

NICE Actimize’s SURVEIL-X solution was awarded “Best Trade Surveillance Solution for MAD/MAR Technology” in A-Team Group’s 2020 RegTech Insight Awards in 2020, 2019, and 2018.

NICE makes use of artificial intelligence, machine learning, and cloud computing to deliver a quality surveillance platform to identify market abuse and swiftly comply with the changing regulatory rules.

Surveil-X supports the requirements for MAR, MAD, and MiFID II in both Markets Surveillance and Communications Surveillance, as well as featuring complete integration with NICE Trading Recording (NTR) and NICE Compass Compliance Assurance solutions.

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