NICE Actimize Positioned as a Leading Luminary in Financial Crime Technology in Celent’s 2024 Watchlist Screening Report

NICE Actimize, a NICE (NASDAQ: NICE) business, has been recognized with multiple honors by Celent, a division of Oliver Wyman, Inc., in its recently released report, “Financial Crime Compliance Technology: Watchlist Screening Edition—2024 XCelent Awards, Powered by VendorMatch.” Named a Luminary in the report’s Technology Capabilities matrix, NICE Actimize was also the recipient of the report’s XCelent award for “Breadth of Functionality.” To download a complimentary excerpt of this report, please click here.

The Celent report noted, “NICE Actimize’s watchlist screening system is a multipurpose solution for supporting payments screening as well as customer screening for KYC, due diligence, or customer review. The customer base is dominated by banks, as well as sell side and buy side firms, insurers, e-commerce, and gaming. Actimize is also seeing growth in cloud-based deployments of the solution.”

NICE Actimize’s strengths and differentiators for its Watchlist Screening solution include “entity resolution and network analysis screening,” its ability to work “with NICE Actimize’s case management system,” and its “support for ISO 20022 messages,” the Celent report outlined. The report also noted that “the solution uses predictive analytics to support automated alert management.”

“The digital financial services revolution is bringing new watchlist screening use cases to the fore. As a result, financial institutions are increasingly applying new or updated technologies to enhance screening capabilities,” said Neil Katkov, PhD, Risk Director and author of the Celent report. “Our research showed that clients rated NICE Actimize strongly overall. For functionality, customer respondents appreciated the screening of adverse media and other unstructured data sources.”

“Financial institutions of all sizes continue to feel the pressure of the expansive sanctions programs implemented globally across jurisdictions. NICE Actimize’s screening solution, WL-X, accurately identifies screening risk, utilizing global data sources while supporting regulatory compliance,” said Craig Costigan, CEO, NICE Actimize. “Through continuous innovation and by delivering advances in AI and machine learning, our solutions help our customers better detect, mitigate and report financial crime.”