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Digital Identity, Security & Online Fraud

NICE Actimize's transaction monitoring solution to impact SSVB AML operations

Monday 27 May 2019 | 11:03 AM CET

NICE Actimize has been selected by SPD Silicon Valley Bank (SSVB) to update its AML strategy with next generation AI-infused transaction monitoring protections.

By adopting NICE Actimize’s Suspicious Activity Monitoring solution (SAM 9), the update desired by China-based SSVB will introduce NICE Actimize’s concept of Autonomous Financial Crime Management to the financial institution’s AML compliance efforts.

The company’s latest version of its SAM solution will be used in the implementation, and it combines ML analytics for laser-accurate AML detection with robotic process automation, lowering false positives and virtually eliminating the manual search for supporting data and other manual tasks. The new SAM solution utilises automation to reduce human effort and error, and to detect and report sophisticated crime schemes.

More: Link
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