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Digital Identity, Security & Online Fraud

NICE Actimize to support IDB Bank with AML compliance

Wednesday 20 March 2019 | 01:44 PM CET

Israel Discount Bank of New York (IDB Bank) has selected NICE Actimize to tackle financial crime with AML compliance and investigation management solutions.

IDB Bank will implement NICE Actimize’s Suspicious Activity Monitoring (SAM) solution within its private banking and commercial banking portfolio, along with its Customer Due Diligence (CDD) solution.

The IDB Bank rollout will also incorporate Actimize ActOne, an investigation management system, which will be implemented as the financial institution’s alert and case management platform. Additionally, IDB Bank will invest in NICE Actimize’s Currency Transaction Reporting (CTR), Suspicious Activity Report (SAR) processing and reporting capabilities which offers complete AML coverage and transparency with automated reporting and regulatory filing that eases AML compliance requirements.

NICE Actimize's Suspicious Activity Monitoring (SAM) solution, which combines machine learning analytics for laser-accurate detection, eliminates costly manual data gathering tasks thereby increasing team productivity and reducing investigation time. The SAM solution introduced NICE Actimize's concept of Autonomous Financial Crime Management to the anti-money laundering category for the first time.

More: Link
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