NICE Actimize Positioned as Highest-Scoring Vendor Across Technology Excellence Metrics in 2022 Quadrant Knowledge Anti-Money Laundering Report

By AIT News Desk On Apr 12, 2022

Using AI and Machine Learning, NICE Actimize’s solution optimizes detection models and uses predictive analytics to identify and prioritize suspicious alerts

NICE Actimize, a NICE business, has been ranked by global advisory and consulting firm Quadrant Knowledge Solutions as the highest-scoring AML solutions vendor across Technology Excellence metrics in its recently released 2022 “SPARK Matrix Anti-Money Laundering (AML) Solution” report. The Quadrant Knowledge Solutions study, which provides competitive analysis and a ranking of the leading anti-money laundering vendors in the form of its proprietary SPARK Matrix, scored NICE Actimize and its consolidated Anti-Money Laundering solutions highest across technology excellence.

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“With its overall solution offering, robust roadmap, strong customer value proposition, and domain expertise, NICE Actimize has received strong ratings across the parameters of technology excellence and customer impact and has retained its leadership position in the SPARK Matrix: Anti-Money Laundering (AML), 2022.”

Positioning NICE Actimize as a 2022 top performer and technology leader in the global anti-money laundering solutions market, Quadrant Knowledge noted, “NICE Actimize’s AML solutions provide a customizable alert and case lifecycle management ecosystem enabling users to build flexible alert workbench views per the organizational alert management policies.”

According to the Quadrant Knowledge Solutions report, “NICE Actimize is also developing its network analytics, identity resolution and data intelligence offerings and planning launches of new solutions that will enhance its onboarding capability and drive a greater understanding of entities and their risk. NICE Actimize plans to take a truly entity-centric approach by delivering a single trust score for customers derived from data across the whole organization.”

The report also said, “Using AI and Machine Learning, the solution creates intelligent peer segments, optimizes detection models to aid detection accuracy and uses predictive analytics to identify and prioritize truly suspicious alerts, sending high-risk alerts to the right team at the right time and ensuring effective outcomes and accurate SAR filings.

“With its analytical AML solution, NICE Actimize offers comprehensive features such as configured alert prioritization via getNEXT, advanced BI reporting, unique identity resolution, and more. The company is well-equipped to handle AML issues and new and evolving threats, backed up by a wide range of AI and ML capabilities, including suspicious cryptocurrency activity or transactions, correspondent banking, and trade-based money laundering,” said Pradnya Gugale, Analyst, Quadrant Knowledge Solutions. “With its overall solution offering, robust roadmap, strong customer value proposition, and domain expertise, NICE Actimize has received strong ratings across the parameters of technology excellence and customer impact and has retained its leadership position in the SPARK Matrix: Anti-Money Laundering (AML), 2022.”

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“NICE Actimize’s advanced anti-money laundering solutions protect financial services organizations by providing a single integrated view of customer risk for more precise customer lifecycle risk management,” said Craig Costigan, CEO, NICE Actimize. “Our AML solutions bring together AI, machine learning and robotic process automation (RPA) to enable end-to-end coverage to more effectively monitor suspicious activity while ensuring our customers are always up-to-date with regulatory compliance requirements.”

The Quadrant Knowledge report analysis stated, “Some of the differentiators of NICE Actimize’s AML product include predictive scoring for prioritization of high-risk alerts that will result in a SAR and identification of false-positive indicators; advanced segmentation to automatically and intelligently separate the bank’s account and customer populations based on homogeneous activity to aid detection threshold allocation corresponding to the risk and activity level of each segment.”

Additionally, the report stated, “In terms of reporting, NICE Actimize offers extensive model change documentation, including details on the type, time of deployment, and impact. It also enhances quick auditability with a snapshot view of the customer at any point in time throughout their lifecycle.”

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