Refinitiv to distribute NICE Actimize’s market surveillance tech in APAC

Rick Steves

The financial market surveillance solutions niche in the APAC region is expected to grow at 11.5% through 2026, according to Data Bridge Market Research.

asia

NICE Actimize has signed a distribution partnership deal with Refinitiv in order to expand its customer base throughout the Asia-Pacific region.

Refinitiv will leverage its presence in the region, including strong relationships with central banks, to resell NICE Actimize’s SURVEIL-X Holistic Surveillance Suite through both a cloud or on-premises environment to new market sectors.

SURVEIL-X provides risk coverage for buy and sell-side firms, insurance companies, crypto exchanges, and regulators. The service enables detection and thorough investigation of market abuse, inappropriate communications, unsuitable sales practices, conduct risk and otherwise undetectable compliance risks to insulate firms from fines and reputational damage.

Alfred Lee, Managing Director, Data & Analytics, Asia Pacific at LSEG, commented: “Refinitiv is focused on supporting our Central Bank and financial services customers as they expand their digital journey and adopt innovation throughout their operations.

We look forward to aligning our considerable expertise, deep relationships across Asia-Pacific with NICE Actimize’s trade surveillance suite. Our joint effort is particularly suited to help Asia-Pacific based financial institutions as they work to streamline their journey to automation and increased productivity.”

Chris Wooten, EVP, NICE, said: “With Refinitiv’s leading data and insights and unrivaled access to global capital markets, we believe that this partnership will rapidly expand the network for NICE Actimize’s financial markets compliance and cloud solutions.

We stand at a critical time to ensure transparency in the trading process, when many are working from home, with this partnership opening up great potential to provide enhanced customer support and services. We look forward to serving new customers and market segments across Asia-Pacific.”

In March, NICE Actimize 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.

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.

The solution aims to “save the day” as financial services organizations find themselves increasingly challenged to efficiently screen parties and payments against required sanctions lists, which also include politically exposed persons (PEPs) and adverse media.

In February 2020, 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.

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