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NICE Actimize Recognized as "Category Leader " Across All Four RiskTech Quadrants® in 2014 Chartis Financial Crime Risk Management Systems Report RiskTech Quadrants® measure completeness of offering and market potential in enterprise fraud and anti-money laundering categories
January 2015 by Marc Jacob
NICE Actimize, a NICE Systems business and the industry’s largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, announced today that Chartis has recognized NICE Actimize as a category leader across all four RiskTech Quadrants® contained in the annual 2014 Financial Crime Risk Management report. The four core RiskTech Quadrants® categories, measuring vendors’ completeness of offering and market potential attributes, include Enterprise Fraud, Anti-Money Laundering and Transaction Monitoring, Know-Your Customer (KYC) and Client Onboarding, and Watchlist Monitoring. Chartis provides research and analysis on the global market for risk management technology.
According to Chartis, financial crime has become a growing threat for financial institutions, leading to a demand for improved processes, organization and technology. Regulators are implementing new measures and demanding more direct involvement by management, boards, and directors in risk management and crime prevention. Chartis also noted that financial crime risk management is not only a regulatory demand, but is also important for customer security and trust. In addition to the regulatory and business costs of financial crime, financial institutions are also looking at managing customer and reputational risks.
"With the rise of cyberthreats, enterprise fraud, anti-money laundering activity, and other types of financial crime, financial institutions have significant new challenges in addressing requirements for financial crime risk management, detecting and preventing fraud and managing risk," said Peyman Mestchian, Managing Partner at Chartis. "The Chartis Financial Crime Risk Management report cites NICE Actimize as a category leader in financial crime risk management solutions."
"We’ve seen heightened threats in financial crime coupled with increased demands across the global regulatory climate - and in this ever-changing and complex climate, it is critical to continue innovating to address financial institutions’ evolving needs," said Joe Friscia, president of NICE Actimize. "Once again, the industry recognizes NICE Actimize’s ongoing commitment to staying ahead of the threats and requirements inherent in this environment."
