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NICE Actimize Launches AI-Powered Financial Crime Investigation System

Data analytics and insights company NICE announced the launch of an AI-enabled investigation management system today.

The new tool, Actimize ACTone, is an alert and case management platform for financial services. The overall aim of the new offering is to provide financial services companies with one platform (hence the name ACTone) to manage alerts and cases from a wide ecosystem of financial crime solutions.

ACTone leverages AI combined with analytics and automation to aid in financial crime detection, investigations, and operations process. This approach relies on NICE’s Autonomous Financial Crime Management product, which enables financial services companies to deploy robots to collaborate with human investigators to more efficiently tackle financial crime investigations.

The new investigation manager tool suite includes:

  • Entity Insights: Offers visual relationships across entities and helps uncover risks and reveal deeper insights
  • Virtual Workforce: Eliminates manual data gathering and reduces costs and errors with robotics process automation
  • Entity Risk: Assigns a dynamic risk score to every entity using machine learning to make faster decisions
  • Activity Center: Provides instant notifications on changes made to cases or work items
  • Visual Storytelling and Modern User Experience: Offers intuitive navigation with graphical data representations to provide instant insights.

In the press release, Joe Friscia, President of NICE Actimize said, “In an autonomous world, instead of machines assisting humans to complete work, humans will assist the machines. With financial criminals getting smarter every day, it’s time for us to do the same. This is why we are so committed to our vision of Autonomous Financial Crime management which provides these benefits and more as we attack all aspects of financial crime.”

Actimize ACTone will be included in NICE Actimize’s Suspicious Activity Monitoring (SAM) anti-money laundering solution, as well as within its enterprise fraud and financial markets compliance solutions.

Founded in 1986, the company serves 25,000 customers, 85% of which are Fortune 100 companies. Among NICE’s clients are Alliance Data, Walgreens, and Capital One. At FinovateEurope 2015, the company showcased Real-Time Authentication, a passive, phone-based authentication offering that leverages voice biometrics. Earlier this year, Gartner recognized NICE in the Leaders quadrant of the Gartner Magic Quadrant for Workforce Engagement ‎Management for the second year in a row.