23 August 2014

Associated Banc-Corp selects Nice Actimize for AML

31 May 2012  |  1609 views  |  0 Source: Nice Actimize

Nice Actimize, a Nice Systems company and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, today announced that Associated Banc-Corp (ASBC), a major US financial services holding company, has chosen NICE Actimize to implement a range of anti-money laundering and enterprise fraud technology solutions to support the bank's financial crime strategy.

By supporting the organization's fraud and AML needs, Associated states that the launch of NICE Actimize next-generation technologies provides a range of benefits, including the ability to detect patterns of activity across organizational silos which will allow them to reduce operational costs, obtain better quality alerts, and reduce risk.

Launching the bank's vision for a complete financial crime platform that leverages critical customer data and unifies the institution's view of risk, Associated is initially deploying integrated Actimize Anti-Money Laundering solutions that include suspicious activity monitoring (SAM), customer due diligence (CDD) and case management capabilities.

Later in the year, the bank will begin to implement Actimize Integrated Fraud Management solutions which provide comprehensive end-to-end fraud lifecycle management across multiple interaction channels. The solutions enable a customer-centric approach including monitoring remote channels protecting a range of consumer activities including mobile banking; solutions that address the unique needs of business clients and high volume payments operations; capabilities that minimize fraud risk for incoming funds; and protections for the integrity of the bank's own internal operations and business processes.

According to Arthur Heise, Executive Vice President and Chief Risk Officer, Associated Banc-Corp: "We were looking to adopt a dynamic platform that allows us to enhance our current risk management processes, improve our readiness for future regulatory expectations, and above all help us provide our customers with the experience and security they expect from Associated."

"Financial institutions understand that effective financial crime management is one of the single biggest factors today impacting both operational efficiency and, ultimately, their reputation to their customers," said Amir Orad, President and CEO of NICE Actimize. "Our experience in helpingg institutions of all sizes develop and execute a financial crime strategy will allow us to help Associated address these challenges today, while preparing the institution for the future." 

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