NICE Actimize, a NICE Systems business and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, announced today that the company was awarded the position “Leader in the North American Large Financial Institution Market” in Aite Group’s 2015 Vendor Report, “Case Management Vendor Evaluation: Key to Enterprise Success.” Aite Group is an independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry.
Aite Group’s award criteria include the following performance factors: client feedback; assessment of the vendor’s capability set, product maturity, and future development plans; and a vendor’s market penetration and experience with enterprise case management.
Aite Group stated: “This award goes to NICE Actimize, which has by far the most implementations at large financial institutions, and has extremely strong AML and fraud prevention capabilities. NICE Actimize provides strong workflow techniques, which allow FIs to improve operational efficiency and enable FIs to demonstrate compliance with many regulations. Additionally, customer communications can be streamlined using case management, and reporting capabilities are strong.”
“The war against financial crime is being waged constantly. At the rate hackers are attacking government agencies, retailers, financial institutions and others, this may be the number one threat against the U.S. economy in the next few years,” said Shirley Inscoe, senior analyst, Aite Group LLC, author of the report. “Only with effective weapons can any financial institution hope to win key battles, let alone a war. Case management solutions, one key way to achieve a complete view of customer activity and detect cross-channel fraud, are one of the most important tools in the good guys’ arsenals.”
“NICE Actimize has long recognized that enterprise risk case management is a critical link in end-to-end financial crime risk management,” said Joe Friscia, President, NICE Actimize. “We are pleased that Aite Group’s research recognizes both our strong leadership in AML and fraud, and the operational strengths of our case management solutions.”
“As the Aite Group report details, the aim of most enterprise risk management solutions is to obtain a complete view and understanding of a particular customer or account across channels,” said Chad Hetherington, Global Vice President & General Manager, Enterprise Risk Case Management, NICE Actimize. “While point solutions can be effective in managing certain types of financial crime, only a robust and unified approach to case management can pull all the data together in one place to provide a single view of activity across a range of channels.“
NICE Actimize’s ERCM solutions include its Enterprise Risk Case Manager, which enhances operational efficiencies by automating and streamlining processes and facilitating a unified, holistic view of risk across multiple lines of business, channels, products and customers.