NICE Actimize, a NICE Systems business and provider of financial crime, risk and compliance software for the financial services industry, announced the launch of its Actimize AML Essentials Anti-Money Laundering Cloud solution, providing end-to-end packaged AML compliance capabilities designed specifically for the unique needs of mid-sized financial institutions.
The Actimize AML Essentials Anti-Money Laundering Cloud solution offers integrated AML coverage—from transaction monitoring, know-your-customer, and watch list filtering to reporting and SAR filing. This complete AML offering is built on the principles of a software-as-a-service model, to offer secure cloud-based delivery that ensures rapid deployment, reduced operational overhead, and low total cost of ownership for growing, mid-sized banks. NICE Actimize’s first delivery of AML Essentials will begin with the Suspicious Activity Monitoring (SAM) component, with other components rolling out by the end of the year.
The solution offers targeted models, rules, profiles, and advanced analytics combined with built-in, industry specific detection, workflows, and investigation tools, providing seamless AML compliance. The solution also provides accurate alert prioritization, efficient alert management, ad-hoc investigations, management reporting, and audit tracking through the Actimize Risk Case Manager. Predefined workflows ensure investigations are resolved effectively and according to compliance protocols and AML best practices.