The degree of various crimes or frauds in financial sectors has been incrementing. Therefore these crimes need to prevent well in advance and take precautionary actions to reduce the possible risks.
Financial crime risk management is a practice formulated to identify financial crimes proactively. It not only identifies but also analyzes and investigates the potential risks and vulnerabilities. This practice will rescue an organization from becoming a victim of such risks.
For instance, committing forgery is a financial crime, documents like contracts, financial reports, etc contain an invalid or unauthorized signature. Producing false invoices, personal purchases, theft all these illegal behaviour come under the category of financial crimes.
The financial crime risk management has transformed with the acquisition of Guardian Analytics by NICE Actimize. All the financial organizations will be able to remain one step ahead and fight financial crimes with the assistance of Guardian Analytics.
New Jersey-based NICE Actimize is financial crime management provider functioning autonomously. NICE Actimize got into an agreement with Guardian Analytics AI cloud-based solution provider. The association or a combination with Guardian Analytics will deliver solutions to financial companies to fight the related crimes and frauds.
To protect the firm’s valuable assets and potential customers the financial institutions will be engaged in embracing the innovative solutions. Together the companies can begin a new venture in fighting against financial crimes.
The combination equips a complete cloud platform that offers anti-money laundering and fraud capabilities. Advanced analytics and machine learning capabilities. A quick cloud setup. The acquisition will extend the offerings of NICE Actimize to all sizes from small, midsized institutions to global institutions.
NICE Actimize is making significant contributions to advancing the future journey of financial crime risks. They must undertake ways that are cost-effective to protect the financial institutions and consumers amid prevailing crimes.
NICE Actimize recently initiated KYC Xpress to promote KYC (Know your Customers) processes. The processing speed will increase to more than 80 per cent. To conclude the company delivers solutions for financial crimes, risks & frauds also provide support and assistance to financial companies and government regulators.
