Financial Crime Through Advanced Technologies Integration


Collaborating Entities:
The Israel Innovation Authority has supported NICE Actimize since its inception, through a variety of development programs including R&D and technological infrastructure incentives including Magneton and MAGNET consortiums. With the assistance of the IIA, NICE has benefited from the transfer of technology from the best of Israel’s research institutions to industrial corporations for the development of breakthrough products.Who is NICE Actimize?
Actimize began as a small company in 1999 in Israel’s Silicon Wadi, a 125-mile corridor across the coastal plain of Israel stretching from the most northern port to the southern desert. Founded by a group of former IDF colleagues specializing in business intelligence and data warehousing, the company focused on anti-money laundering and fraud prevention software. Actimize was acquired by NICE Systems, a leading global provider of both cloud and on-premises enterprise software solutions, (NASDAQ: NICE) in July 2007 becoming one of the company’s three principle branches of activity. NICE Actimize provides a clear view of risk to a financial system by resolving issues efficiently, and by keeping the organization up to speed with a rapidly changing regulatory landscape.

Successful Innovation

The Challenge
Financial crime has become of increasing concern to individuals, governments and organizations throughout the world over the last three decades – and the threat landscape is constantly shifting. While access to the financial system has spurred economic development and helped transform lives, the system has and can also be used by those looking to carry out some of the most damaging crimes, such as fraud, electronic crime, money laundering, terror financing, market abuse and insider dealing, information security, bribery and corruption. It is widely recognized that the prevalence of economically motivated crime is a threat to the development and stability of economies – and products and services to combat this is more and more in demand. Financial services customers are constantly demanding new services, faster transaction times, and better service – pushing up costs and making it more difficult to mitigate risks effectively and to keep up to speed within a rapidly changing regulatory landscape.

The Innovation
Using innovative technology to protect institutions and safeguard both consumers and investors assets, NICE Actimize identifies financial crime, preventing fraud and providing regulatory compliance. It provides real-time, cross-channel fraud prevention, anti-money laundering detection and trading surveillance solutions that address payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Increasingly sophisticated technology find abnormal behaviour earlier and faster, eliminating financial losses from theft to fraud, regulatory penalties to sanctions. As a result, organizations will reduce losses, increase investigator efficiency, and improve regulatory compliance and oversight. 

Global Impact
With over 25,000 organizations in more than 150 countries – including over 85 Fortune 100 companies — using NICE solutions, NICE Actimize has become the largest and broadest provider of financial crime, risk, and compliance solutions for regional and global financial institutions and government regulators. Consistently ranked number one in risk-management space by numerous industry accolades, NICE Actimize continues to lead the industry in fighting financial crime by offering innovative solutions through the integration of advanced technologies such as robotic process automation, artificial intelligence, and machine learning which boost operational productivity.