NICE Actimize
Enterprise Risk Management Solutions with Robust Technology

As financial institutions dramatically increase their product development and new services, there is a huge rise in the creation of potential vulnerabilities in their systems – fraudsters often look to develop new strategies to exploit these new weaknesses. As a result, there is enormous pressure on CIOs to deliver more capabilities and support additional customer channels while safeguarding their assets and obliging regulatory rules. Designed to meet the unique needs of financial enterprises, NICE Actimize detects and prevents potential fraud, manages regulatory compliance, and identifies money laundering threats—protecting institutions from financial crimes, as well as regulatory and reputational risks. “At NICE Actimize, we have a singular focus— to protect financial services firms from financial crimes. We have a great analytics engine with best-in-class trade and case management solutions for investigations,” says Chad Hetherington, Global VP and GM, Enterprise Risk Case Management, NICE Actimize.

Our ERCM platform reduces excess work, identifies duplications, and provides a consolidated view of the security profile

“Most financial activities happen between device and consumer. At NICE Actimize, we understand that scenario and talk about creating a perfect customer experience,” says Hetherington. Being financial crime and compliance-centric, the company empowers organizations to capture, analyze, and apply real-time insights from both structured and unstructured Big Data. With an array of solutions within their basket, NICE Actimize offers holistic views and flexible technology for Anti-money Laundering, Fraud Detection and Prevention; Financial Markets Compliance and Enterprise Risk Case Management (ERCM).

“Our flagship Enterprise Risk Case Manager (ERCM) provides the actionable intelligence needed to gain a holistic view of risk.

With the ability to consolidate in-formation from existing, point detection systems into a single operational tool, we provide unparalleled visibility across multiple lines of business, channels, products, and regions,” explains Hetherington.

Harnessing exponential volumes of data is the key focus of the company’s ERCM solution, which helps to capture and consolidate data from disparate systems to provide a unified view and sophisticated workflows. “Our platform reduces excess work, identifies duplications, and provides a consolidated view,” adds Hetherington. Unlike the competition, NICE Actimize treats the financial crime business as their key focus—with award-winning solutions, a single investigatory and workflow platform that reduces the total cost of ownership and streamlines operations for their clients.“We always look at different ways to increase the speed at which our clients are able to complete the investigations,” states Hetherington. This year the company has made two significant investments to address the issue. “First is operational analytics which will eliminate the number of steps required to be performed by a financial crime analyst. Second is a productivity offering which will provide the tools and necessary information to better monitor and improve the efficiency of investigation operations,” adds Hetherington.

To reflect NICE Actimize’s expertise, Hetherington brings in an interesting scenario. A leading global bank with multiple business lines and complex legacy systems approached them with the following queries—could Actimize enhance their multiple legacy systems and complex structure due to M&A and handle the lack of timely and accurate customer-centric data? Actimize’s ERCM platform stepped in to standardize the process and reduced the IT team costs by 50 percent within a short period of time.“We also helped them to increase productivity and insight by consolidating data and activities across multiple systems,” says Hetherington.

With their client range varying from large enterprises to medium-sized businesses, NICE Actimize plans to expand its offerings to cloud-based solutions for smaller-tier financial services organizations, and to also protect alternative payments providers. “Our experience and background, which has made us particularly strong and flexible as a vendor, has given us a unique ability to step into a variety of business types and geographies to address a range of complex issues,” concludes Hetherington.