ING Deutschland taps NICE Actimize to identify abuse and risky behavior of employees

Rick Steves

The German subsidiary of the Dutch ING Group is adding SURVEIL-X to its Fixed Income capabilities as well as its Cross Market/Cross Product Manipulation, and Equities coverage.

ING Deutschland has expanded its partnership with NICE Actimize to further invest in SURVEIL-X Markets Surveillance, the cloud-based, AI-powered trade surveillance solution.

NICE Actimize’s SURVEIL-X enhances end-to-end risk management capabilities by identifying potential market abuse and risky behavior of regulated employees.

SURVEIL-X for fixed income, cross market/product manipulation, and equities

The German subsidiary of the Dutch ING Group is adding SURVEIL-X to its Fixed Income capabilities as well as its Cross Market/Cross Product Manipulation, and Equities coverage.

Chris Wooten, Executive Vice President, NICE, said: “NICE Actimize’s holistic approach to surveillance breaks down barriers between data silos at ING Deutschland, thereby providing a deeper analysis and true risk detection.

“As a long-standing provider to ING Deutschland, we’re committed to continuing to offer market-leading financial crime technology combined with our best-in-class cloud services team, with the mission of protecting ING Deutschland as well as its customers.”

SURVEIL-X for banks, brokers, and FCMs, covering Forex, swaps/OTC

SURVEIL-X Holistic Surveillance suite helps financial services institutions, broker/dealers and future commission merchants comply with regulatory obligations, avoid costly fines and preserve their reputation.

NICE Actimize has more than 12 years of experience implementing Markets Surveillance in covering a wide-range of asset classes, including foreign exchange and swaps/OTC.

ING Deutschland is the third-largest bank in Germany, with over 9 million customers. Core products include current accounts, mortgage lending, savings, consumer loans, and securities, but the bank also features Business Banking and Wholesale Banking segments.

NICE Actimize’s SAM-10 for AML purposes

Earlier this year, NICE Actimize launched the Suspicious Activity Monitoring (SAM-10) solution to enhance its anti-money laundering solution by incorporating multiple layers of defense which strengthen the others and offer comprehensive coverage and detection of suspicious activity for financial institutions.

SAM-10 is part of NICE Actimize’s Anti-Money Laundering suite of solutions and offers next-generation analytics, including machine learning for advanced anomaly detection, model optimization, and network risk analytics, detecting suspicious relationships and transaction patterns accurately.

Providing an entity-centric AML approach, the SAM-10 solution delivers data to enrich profiles and multiple layers to segment, monitor, and ensure that only true suspicious activity is identified. Suspicious activity can be intricately understood, accurately monitored, and detected more quickly.

Other benefits of NICE Actimize’s SAM-10 Suspicious Activity Monitoring solution include:
• Enhanced Coverage: With NICE Actimize’s extensive catalog of out-of-the-box detection models, advanced analytics, and network risk detection, SAM-10 extends and enhances detection coverage across all industry verticals, especially in helping identify suspicious connections between transaction counterparties using new network risk analysis detection.
• Faster Investigations: Improved entity insights provide richer information and improved UI. The solution also offers network exploration capabilities for a visual understanding of relationships.
• Flexible Deployment: Deployment options include on-premise or SaaS.

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