NICE Actimize Honored for Best Transaction Monitoring Solution by Regulation Asia’s 2023 Excellence Awards

NICE Actimize, a NICE (Nasdaq: NICE) business, was recently recognized by the “Regulation Asia Awards for Excellence 2023” with its award for the “Best Solution - Transaction Monitoring” in its “Best Solutions – Financial Crime” category. The transaction monitoring award recognizes a comprehensive and innovative solution that effectively helps financial institutions detect and prevent financial crime through advanced transaction monitoring capabilities, while also leveraging data analytics and/or machine learning to minimize false positive rates.

According to Regulation Asia’s judging panel, NICE Actimize was recognized for its comprehensive suite of AML solutions, which features its flagship transaction monitoring solution, Suspicious Activity Monitoring (SAM), along with a robust portfolio of additional capabilities for screening, reporting, customer due diligence, and other components. The transaction monitoring solution offers more than 70 AML scenarios and over 250 engineered models to choose from for deployment in a financial institution’s AML program.

The judging panel also credited NICE Actimize for the sophistication of its transaction monitoring capabilities, including its ability to leverage advanced technologies including data analytics and AI/machine learning. “The solution’s entity resolution, advanced segmentation, predictive analytics-driven alert triage, and iterative auto-tuning capabilities, along with its configurable alert prioritization process, ultimately serve to reduce false positives and improve detection efficiency,” said one judge on the awards panel.

“With its multidimensional, entity-centric approach, NICE Actimize accelerates transaction monitoring effectiveness. This approach not only enhances a financial institutions’ ability to catch suspicious activity early, but also ensures comprehensive protection against evolving financial crime threats,” said Craig Costigan, CEO, NICE Actimize. “We continue in our commitment to the Asia Pacific region and thank Regulation Asia’s expert panel of judges for recognizing our innovative transaction monitoring solutions.”

This award marks NICE Actimize’s fifth consecutive win in the competition, including awards for anti-money laundering and surveillance solutions.

For further information on NICE Actimize’s Anti-Money Laundering Solutions, please click here.

About the Regulation Asia Awards for Excellence 2023
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.