NICE Actimize’s AI-Infused Transaction Monitoring Solution to Transform China’s SPD Silicon Valley Bank AML Operations

Adopting NICE Actimizes latest Suspicious Activity Monitoring solution (SAM 9), the update will introduce NICE Actimizes innovative concept of Autonomous Financial Crime Management to the financial institutions anti-money laundering compliance efforts.

Information


Leading the industry with AI-based solutions designed to streamline
anti-money laundering operations for global financial institutions, NICE
Actimize, a NICE (Nasdaq: NICE) business
and the leader in
Autonomous Financial Crime Management, was selected by China-based SPD
Silicon Valley Bank
(SSVB) to update its anti-money laundering
strategy with next generation AI-infused transaction monitoring
protections. Adopting NICE Actimize’s latest Suspicious
Activity Monitoring solution
(SAM 9), the update will introduce NICE
Actimize’s innovative concept of Autonomous Financial Crime Management
to the financial institution’s anti-money laundering compliance efforts.

China-based partner Sunlight China is currently supporting
implementation efforts.

NICE Actimize’s latest version of its SAM solution, which will be used
in the implementation, combines machine learning analytics for
laser-accurate AML detection with robotic process automation, lowering
false positives and virtually eliminating the manual search for
supporting data and other manual tasks, increasing team productivity,
and reducing investigation time overall by up to 70 percent. Leveraging
NICE Actimize's experience in advanced analytics and transaction
monitoring solutions, the new SAM solution utilizes automation to reduce
human effort and error, and to detect and report sophisticated crime
schemes.

Bradley Gao, Chief Operations Officer, SPD Silicon Valley Bank
“SSVB
initiated a rigorous, competitive search for a solutions partner to
update its anti-money laundering strategy, and our team continued to be
impressed with the innovation, professional support, and deep experience
that global industry leader NICE Actimize brought to our institution.
Our mission at SPD Silicon Valley Bank is to lead China in technological
advancements while offering superior customer service, and we look
forward to working with NICE Actimize as we work to further modernize
our institution’s approach to fighting financial crime.”

Craig Costigan. CEO, NICE Actimize
“Demonstrating our
commitment to the entire Asia-Pacific community, we are most proud of
our ongoing relationship with SPD Silicon Valley Bank, and our future
successes as we further focus on China and the region at large. We know
that our years of experience in anti-money laundering contribute
strongly to the confidence the financial institution has placed in us as
we work to continue to strengthen its anti-money laundering operations
with advanced analytics and AI technologies.”

NICE Actimize provides a unique analytics approach for compliance teams
with its SAM solution. The approach combines out-of-the-box, expert
red-flags with machine-learning optimizations to dramatically reduce
false positives. Machine-learning is applied to provide intelligent
segmentation, and to improve anomaly detection, thereby increasing the
system's ability to identify known and unknown money-laundering risk
scenarios. Additionally, machine-learning and intelligent automation is
also used to prioritize alerts and reduce overall investigation times.

For more information on NICE Actimize’s AML suite:

  • On NICE Actimize’s Suspicious Activity Monitoring (SAM 9) solution,
    please click
    here
    .
  • On NICE Actimize Autonomous Financial Crime Management (AFCM), please click
    here
    .

SPD Silicon Valley Bank (SSVB)
Headquartered in Shanghai,
China, SPD Silicon Valley Bank (SSVB) is a joint venture between
Shanghai Pudong Development Bank Co., Ltd. (“SPDB" SSE: 600000) and
Silicon Valley Bank (“SVB" NASDAQ: SIVB (SVB Financial Group)). SSVB is
the first technology and innovation bank in China serving as an
independent legal entity. It is also the first Sino-US joint venture
bank. SSVB’s mission is to “increase our clients’ probability of
success" by providing unique financial products and services to the
technology and innovation industry and redefining the banking experience
for innovation companies of all sizes. SSVB aims to create the
“Innovation Ecosystem" and strives to be the most sought-after bank for
China’s innovation economy. Target clients include those in the
hardware, software, Internet, mobile, consumer technology, life science,
biotechnology and clean-tech sectors.

About NICE Actimize
NICE Actimize is the largest and
broadest provider of financial crime, risk and compliance solutions for
regional and global financial institutions, as well as government
regulators. Consistently ranked as number one in the space, NICE
Actimize experts apply innovative technology to protect institutions and
safeguard consumers and investors assets by identifying financial crime,
preventing fraud and providing regulatory compliance. The company
provides real-time, cross-channel fraud prevention, anti-money
laundering detection, and trading surveillance solutions that address
such concerns as payment fraud, cybercrime, sanctions monitoring, market
abuse, customer due diligence and insider trading. Find us at www.niceactimize.com,
@NICE_Actimize or Nasdaq: NICE.

About NICE
NICE (Nasdaq: NICE) is the worldwide leading
provider of both cloud and on-premises enterprise software solutions
that empower organizations to make smarter decisions based on advanced
analytics of structured and unstructured data. NICE helps organizations
of all sizes deliver better customer service, ensure compliance, combat
fraud and safeguard citizens. Over 25,000 organizations in more than 150
countries, including over 85 of the Fortune 100 companies, are using
NICE solutions. www.nice.com

Trademark Note: NICE and the NICE logo are trademarks or
registered trademarks of NICE Ltd. All other marks are trademarks of
their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements
This press release
contains forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Costigan are based on the
current beliefs, expectations and assumptions of the management of NICE
Ltd. (the Company). In some cases, such forward-looking statements can
be identified by terms such as believe, expect, may, will, intend,
project, plan, estimate or similar words. Forward-looking statements are
subject to a number of risks and uncertainties that could cause the
actual results or performance of the Company to differ materially from
those described herein, including but not limited to the impact of the
global economic environment on the Company’s customer base (particularly
financial services firms) potentially impacting our business and
financial condition; competition; changes in technology and market
requirements; decline in demand for the Company's products; inability to
timely develop and introduce new technologies, products and
applications; difficulties or delays in absorbing and integrating
acquired operations, products, technologies and personnel; loss of
market share; an inability to maintain certain marketing and
distribution arrangements; and the effect of newly enacted or modified
laws, regulation or standards on the Company and our products. For a
more detailed description of the risk factors and uncertainties
affecting the company, refer to the Company's reports filed from time to
time with the Securities and Exchange Commission, including the
Company’s Annual Report on Form 20-F. The forward-looking statements
contained in this press release are made as of the date of this press
release, and the Company undertakes no obligation to update or revise
them, except as required by law.