NICE Actimize Adds New Service for Fighting Financial Crime

NICE Actimize –American company focusing on autonomous financial crime management– unveils a Cloud-based AI-powered risk management platform for fighting financial crime.

This subsidiary of NICE Systems develops risk management software enabling financial players to monitor transactional operations. They just added a new service based on an autonomous approach to address all financial crime-related aspects.

The new on-demand Platform-as-a-Service called X-Sight builds on analytics and automation to handle all steps of financial crime-related detection and investigation mechanisms. Their Cloud-based analytics tool avoids that financial institutions should craft and optimise dedicated models. It will also act as a marketplace enabling customers to rely on services designed by third-party providers.

This platform relies on an open architecture, including decision-making tools, automatic detection and machine learning capabilities that can be customised to fit each financial company’s specific needs.

Comments – Fighting financial crime in the AI age

Financial crime remains a prevailing issue even if financial institutions seldom can afford to increase their workforce to manage the growing numbers of alerts. This dilemma led NICE Actimize to introduce a new service for managing financial crime. They rely on AI technologies to help their customers and partners mitigate human errors and meet regulatory requirements to identify complex crime schemes.

NICE also enhances their financial crime prevention-dedicated range of services and boosts their autonomous financial crime management strategy. These analytics tools are described as autonomous to help their partners improve their response to financial crime since attack patterns constantly evolve.