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NICE Actimize: Financial Crime Compliance 'Essentials' for Mid-sized Firms

CIO VendorCenk Ipeker Head, Actimize Cloud Unit
As regulators demand more transparency and as compliance becomes more complex, financial services institutions are looking for more ways to manage operational costs while staying on top of financial crime. For those firms that fall into the mid-tier range in particular, the costs of compliance, in terms of both technology and staffing, are often difficult to accommodate.

What is now making it possible for a range of firms, from credit unions and community banks to mid-sized banks, to manage the demands of compliance in this climate is the capability offered by moving critical financial crime solutions to the cloud. But not all solution providers have the experience to execute this. Enter NICE Actimize and its new Anti- Money Laundering and Fraud Essentials solutions, addressing this important niche and emerging as an important innovator in financial crime and compliance cloud solutions.

As an award-winning, innovative technology leader with enterprise solutions in financial crime and compliance, NICE Actimize has applied that expertise to the cloud, packaging it in such a way that many sizes and types of financial services firms may quickly and affordably accomplish their operational objectives while at the same time providing the transparency that regulators demand. Many of the current solutions that the small-to-mid-sized firms are using just haven’t scaled to that level of transparency, but the NICE Actimize cloud approach brings that level of sophistication, control, and scalability to the process.

By leveraging the insights and experience gained from more than a decade of providing anti-money laundering and fraud solutions to the world’s largest banks, the Actimize Essentials Anti-Money Laundering and Fraud cloud solutions are built on the principles of a software-as-a-service model, to offer secure cloud-based delivery that ensures rapid deployment, reduced operational overhead, and low total cost of ownership for growing, mid-sized banks.

We are the only solution that will continue to scale, no matter how big the institution grows or how its needs change in the future


NICE Actimize’s first delivery of AML Essentials began with Suspicious Activity Monitoring (SAM), Customer Due Diligence, and Watch List Screening components, with fraud capabilities launched this year.

“Mid-sized financial institutions are feeling the pressure due to increased scrutiny and expectations from regulatory agencies. They are realizing that many existing mid-tier AML solutions fall short of the needs and requirements for most small-to medium-sized banks, and most of them just don’t scale,” said Cenk Ipeker, Head of NICE Actimize’s Cloud business unit. “Our cloud solution fills a critical needs gap for these institutions. We are the only solution that will continue to scale, no matter how big the institution grows or how its needs change in the future.”

Taking a leadership role in how financial services firms can leverage the cloud, NICE Actimize recently became an inaugural partner in Amazon Web Services Financial Services Competency program. This affiliation allows NICE Actimize to design, deploy, and operate applications and infrastructure on the AWS cloud platform. By delivering the NICE Actimize Essentials Solutions on the AWS Cloud, the firm is strongly equipped to address new markets, provide high levels of security and service to its growing customer base, and support reduced deployment costs.

Concludes Ipeker, “Regulators and regulation will not drive down the cost of financial crime prevention for us; it’s the industry that has to find the efficiencies to do so. And one key way to accomplish this is through the cloud. For our part, we are leading the way with cloud applications that do this, and are ready to provide help to any size firm as it navigates the latest in cloud and analytics applications to meet their specific operational and compliance requirements.”