MOVE TOWARDS CROSS-CHANNEL FRAUD AND AML PROTECTION

Abstract

One client of Nice Actimize, which topped both the anti-money laundering (AML) category and the anti-fraud category in the ORR 20 compliance software rankings this year, is consolidating some 200 different AML systems globally into one Nice Actimize product. Amir Orad, president and CEO of Nice Actimize, says this is reflective of a broader trend for banks seeking to reduce costs while centralising compliance with the many AML systems regulations. Cross-channel products to detect both AML and fraud are becoming mandatory as faster and broader payments systems widen to more channels such as mobile, which is growing rapidly, Web and phone.