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NICE Actimize Introduces Breakthrough AI-Powered Watch List Screening Solution for Superior Risk Management

NICE Actimize: The Advanced Watch List Filtering Solution Features Real-Time Screening for Parties and Payments That Leverage AI and Biometrics to Match and Screen for Global Sanctions

Financial services organizations are increasingly challenged to efficiently screen parties and payments against required sanctions lists. With these requirements in mind, NICE Actimize, a NICE business, announces the launch of WL-X, its breakthrough, next-generation Watch List (WL) screening solution leveraging the power of artificial intelligence for superior data management, advanced screening capabilities and frictionless customer onboarding.

NICE Actimize’s WL-X features real-time and on-demand screening for parties and payments that leverages AI and biometrics to match and screen against global sanctions, politically-exposed persons (PEPs), adverse media and other lists. The solution also orchestrates and aggregates list data from premium and public sources with internal lists providing full auditability to ensure accurate screening.

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Serving as the foundation for data-driven, advanced screening processes, NICE Actimize’s WL-X solution expedites customer onboarding while reducing friction​.The advanced solution also offers best-in-class detection featuring advanced facial biometrics, intelligent payment parsing in compliance with ISO20022, and the industry’s most advanced culture/name matching technology.

“Sanctions screening is a critical function across AML operations, but it still relies on traditional technology and workflows,” said Neil Katkov, PhD, Head of Risk, at research and advisory firm Celent. “It makes sense to apply the next-generation technologies that are already transforming investigation and other areas of AML to these legacy-burdened processes.”

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“NICE Actimize’s innovative screening technology supports financial services organizations looking to boost accuracy and efficiency while complying with global regulations,” said Craig Costigan, CEO, NICE Actimize. “A cost-effective anti-money laundering compliance program includes advanced screening capabilities to reduce regulatory risk, generate high quality matches with lower false positives while speeding operational efficiency. And with NICE Actimize WL-X technology, organizations get all of these benefits.”

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Additional features of the next generation NICE Actimize WL-X solution include:

  • Real-time and batch screening capabilities which adhere to regulatory obligations for new and current customers, their counterparties and payments.​
  • Seamless access to aggregated, normalized and verified data from multiple lists sourced from a comprehensive selection of premium and public data sources.​
  • The use of advanced fuzzy matching technologies plus facial biometrics for precise matching capabilities.
  • Machine-learning driven model optimization to adapt and ensure low false positives.
  • Full controls across the AML value chain from onboarding to ongoing monitoring and any ad-hoc checks ​along the way.

NICE Actimize Autonomous Anti-Money Laundering Suite

NICE Actimize’s Autonomous AML modernizes AML programs through a unique combination of AI, machine learning, domain expertise, Intelligent Automation and visual storytelling to better combat money-laundering and terrorist financing. It keeps programs up-to-date with regulatory compliance while creating a single integrated view of the customer. In addition to the new WLF-X solution, the suite includes solutions for Suspicious Activity Monitoring, Customer Due Diligence/KYC, Suspicious Transaction Activity Reporting (STAR), Currency Transaction Reporting (CTR) and X-Sight ActimizeWatch, a secure cloud-based managed analytics service that delivers laser-sharp financial crime detection by actively monitoring analytics performance.

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