Waters Rankings 2014: Best AML Compliance Solution Provider — NICE Actimize

In the modern age of rogue states and terrorist financing, the need for a well-defined and sophisticated AML framework is crucial, and a central part of that drive relies on centralized and nuanced technologies. No longer is it appropriate to simply check a box to demonstrate a client isn’t on a blacklist; firms now need to apply a level of rigor—demonstrably so—that hasn’t been the case in the past. It’s here that NICE Actimize continues to occupy pole position, emphasized by a resounding, user-voted victory in this year’s Rankings.

Utilizing a modular approach on a common core platform, NICE Actimize delivers a software platform for AML compliance that takes into account the varying needs of not only multiple geographies and regimes, but users as well. Integration with third-party systems provides analyst teams with a full suite of tools radiating from a centralized hub that facilitate effective investigations and remediation of issues. Critically, advanced analytics layers allow for views on anticipated-versus-actual behavior, related to common AML patterns and assessments of accounts and linked parties. The suite encompasses key areas such as suspicious-activity monitoring, due diligence, watch-list filtering, model risk management, compliance with regulations such as the Foreign Accounting and Tax Compliance Act (Fatca) and currency transaction report processing. The real power of the platform is its forward-looking approach to compliance—one where it becomes not just a tool to satisfy regulatory obligations, but rather a tool that empowers the business to operate in a safer, more compliant manner.