NICE Actimize has partnered with Alacra to integrate Alacra's 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.
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.
The 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 contextualisation 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 standardised way.
"Our customers and industry regulators have been demanding a more integrated tool to assess risk within their customer base," says 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 centralised 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."
