Press Releases

NICE Actimize Partners with Alacra to Integrate Compliance and Reference Data Platform Technology Into the Actimize Customer Due Diligence Anti-Money Laundering Solution

October 22, 2014

The product alliance marries NICE Actimize workflow and analytics functionality with Alacra's reference
data tools to create industry-leading customer risk assessment

NEW YORK - October 21, 2014 - NICE Actimize, a NICE Systems (NASDAQ:NICE) 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 it has partnered with Alacra, Inc., a leading provider of online business information solutions. The alliance is designed to integrate Alacra's market leading customer onboarding and Know-Your-Customer tool, Alacra Compliance Enterprise ("ACE") and Alacra's Reference Data Platform, into NICE Actimize's Customer Due Diligence ("CDD") anti-money laundering solution. The combined solution will create one of the most advanced and innovative customer risk assessment tools in the marketplace.

Powered by Alacra and supported by NICE Actimize's extensive experience in providing anti-money laundering solutions, the NICE Actimize CDD solution will offer seamless integration with third-party data providers to allow financial institutions to easily identify and manage the investigation processes of high risk customers by leveraging external data sources to offer enhanced real-time data investigations. This joint solution will proactively monitor the latest breaking news, as well as client defined lists, thus providing users with a proactive system which monitors both internal and external risks.

Delivering a complete customer risk solution, the enhanced Actimize CDD solution addresses multiple needs across the entire due diligence process lifecycle, including the contextualization of aggregated negative news data into a "newspage" format. Additionally, the primary capabilities of the joint product include a unified interface designed to search, access and append negative news content to risk-rating reports and automation of a periodic review process via alert pushes based on verified data changes and "new negative news".

The joint capabilities also include a risk-based scoring engine based on hundreds of pre-built risk factors and packaged algorithms. An additional data auto-population feature addresses data quality efficiency and allows financial institutions to onboard corporate and individual customers in a quicker, more standardized way.

"Our customers and industry regulators have been demanding a more integrated tool to assess risk within their customer base," said Joe Friscia, president, NICE Actimize. "By combining NICE Actimize workflow and analytics functionality with the know-your-customer, reference data tools from Alacra, we have created one of the industry's most advanced and comprehensive risk assessment tools."

"NICE Actimize is a leading force in anti-money laundering solutions, and we are looking forward to bringing our proven reference data integration tools and technology to its customers and their implementation of Customer Due Diligence capabilities," said Steve Goldstein, CEO of Alacra. "Having access to a centralized list of PEPs, sanctions and enforcement lists, as well as adverse news, will give Actimize customers enhanced capabilities to be fully compliant with the latest anti-money laundering and know-your-customer standards."

Alacra Compliance Enterprise, an award-winning on-boarding and KYC tool, addresses regulatory and risk requirements with an efficient, consistent and documented vetting process. Alacra products offer a single point of access to comprehensive business data from more than 75 premium publishers providing company financial information, business news, sanctions and PEPs lists, credit information, shareholding data, investment analysis, market research and databases for legal entity identification. Alacra's aggregated premium content help clients quickly access the information they need to make informed decisions.

NICE Actimize's AML solution suite enables integrated AML lifecycle management while delivering insight across the customer lifecycle to ensure cost-effective AML operations for a positive, holistic customer experience. The suite includes five components, including Suspicious Activity Monitoring, Customer Due Diligence, Watch List Filtering, CTR Process and Automation, and a FATCA Compliance solution.

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