NICE Actimize, a NICE business and a provider of financial crime, risk, and compliance software for the financial services industry, this month introduced its new Holistic Behavioral Analytics Solution designed to help financial institutions uncover conduct-related threats that traditional analytics are not designed to detect. The new solution transforms existing compliance processes by discovering risks that lie in enterprise silos, a critical step in mitigating losses, thereby protecting a firm’s reputation and meeting regulatory obligations.
Global regulators—such as the Financial Industry Regulatory Authority, the Financial Conduct Authority, and the Securities Futures Commission of Hong Kong—require firms to manage conduct risk, create a culture of compliance and effectively govern the firm. However, since behaviors violating these mandates often don’t follow a predictable pattern that can be easily modeled, certain types of threats may go undetected for long periods. NICE Actimize’s Holistic Behavioral Analytics solution exposes these threats by analyzing vast volumes of trades, communications and other data to identify risky individuals or entities.
