Partnering with the X-Sight Marketplace, Complidata will offer a digitized and risk-based approach to preventing trade-based money laundering
HOBOKEN, N.J.–(BUSINESS WIRE)–Helping financial services organizations keep up with a changing market landscape, NICE Actimize, a NICE business (Nasdaq: NICE) and leader in autonomous financial crime management, today announced that Complidata has joined the X-Sight Marketplace, the industry’s first financial crime risk management-focused ecosystem designed to assist financial services organizations evaluate new point solutions and move to stay on top of a challenging regulatory and criminal environment.
The X-Sight Marketplace leverages the X-Sight Platform-as-a-Service and further expands the functionality offered by the platform. The NICE Actimize X-Sight Platform-as-a-Service offers a single, unified, cost-effective way for financial service organizations to rapidly innovate and to introduce new services while supporting best-in-class financial crime, risk and compliance management capabilities.
Complidata, known for its use of artificial intelligence to drive automation and optimization for improved regulatory compliance, uses AI-driven technology to provide accurate and repeatable data extraction from paper-based documents followed by screening and risk rating of entities as part of an ongoing anti-money laundering program. Complidata’s offerings also use third-party data integration and geographical analysis to provide a comprehensive approach.
The combination of NICE Actimize’s anti-money laundering solutions and Complidata’s technology and risk-based approach can be leveraged to help fight trade-based money laundering and manage a range of issues, including party/counter party risk, pricing risk, embargoes risk, dual-use goods risk, vessel and routing risk, transaction risk and more.
Technology providers such as Complidata, in partnering with NICE Actimize’s X-Sight Marketplace ecosystem, are reviewed for their ability to complement financial crime and compliance solutions. Once approved, software and service providers become available to the NICE Actimize community via the X-Sight Marketplace. FSOs can quickly browse through X-Sight Marketplace solution categories to find scalable options that solve their unique business problems.
“Complidata appreciates this partnership with NICE Actimize as we bring innovation and business value to financial services organizations looking for a faster selection and assessment process that bolsters their financial crime operations,” said Matthias Verbeke, CEO, Complidata. “There is strong alignment between the industry-leading financial crime solutions and platforms that NICE Actimize offers its community and Complidata’s solutions. We look forward to building our presence on this innovative community platform.”
“We are excited that Complidata, who shares our common goal of fighting financial crime through the benefits of a Marketplace ecosytem, is partnering with us and joining the X-Sight Marketplace community,” said Craig Costigan, CEO, NICE Actimize. “By connecting via a Cloud environment, community participants will experience a quicker time to value and minimized integration cost as they evaluate new solutions for their financial services organizations.”
Additional categories that will be added to NICE Actimize’s X-Sight Marketplace from other partner participants will include: ID Verification, Ultimate Beneficial Ownership, Value-added Data & Adverse Media, Watchlist, Device Identification, and User Authentication & Fraud. Additional partners will be announced as the X-Sight Marketplace grows.
Complidata develops A.I.-driven Process Automation Solutions to streamline and optimise compliance processes and underlying operations across several vertical domains for FSIs. Complidata deploys these solutions as managed services, to help clients define, implement and manage the controls and achieve regulatory compliance. Complidata helps its clients to make their compliance operations more effective and efficient. http://www.complidata.io.
For more information on the X-Sight Marketplace, please click here.
If you are a technology company or financial institution wishing to be part of the first financial crime and compliance marketplace, please contact us at firstname.lastname@example.org.
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.
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
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