19 July 2018
Register today

Nice Actimize tool monitors corporate purchasing patterns for evdience of bribery and corruption

25 May 2017  |  6398 views  |  0 Source: Nice Actimize

NICE Actimize, a NICE (Nasdaq:NICE) business and the industry's largest and broadest provider of a single financial crime, risk, and compliance software platform for the financial services industry, is launching a new corporate anti-bribery and corruption (ABC) solution designed to provide ongoing monitoring of procurement, payments, travel, and expense data within organizations.

Initial focus for the solution will be on financial services organizations and extractives industries including oil, gas, and mining, with other verticals to follow.

Based on extensive experience in transactional analytics, the NICE Actimize ABC solution analyzes transactions and behaviors across the organization and the supply chain in the cloud, for a real-time, up-to-date view of bribery and corruption risk that can be segmented by business, geographic, vendor and customer lines. A newly launched, specialized group within NICE Actimize will focus on anti-corruption & bribery practice offerings.

NICE Actimize ABC also offers improved Foreign Corrupt Practices Act(FCPA) analytics for travel and expense screening, providing more detailed analysis surrounding traditional gifts and entertainment expenditures.

“Investigation and enforcement against corporate bribery and corruption has become increasingly important to regulators, as well as to corporate directors and boards, around the world,” said Joe Friscia, President, NICE Actimize. “Using artificial intelligence and automation technologies, we are enabling companies to monitor their organization to uncover hidden bribes and proceeds of corruption, while reducing risk and identifying these schemes faster and more efficiently than ever before.”

Automating many of the manual forensic auditing functions that firms typically depend upon to uncover these schemes, Actimize ABC offers the ability to monitor these on a daily, weekly, or monthly basis to help identify risks sooner - months to even years before they are uncovered by a firm’s audit or whistleblowing functions.

By working with finance and auditing departments, the solution allows these groups to focus more closely on remediating problems rather than simply identifying them. Further, the solution has developed a “market first” portfolio of analytics that aids organization’s identification of bribery and corruption risk in procurement, order to cash, compensation, and other financial areas within a firm.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit http://go.jumio.com/finextraAdVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
11727 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
10033 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9686 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9229 views 19 comments | 14 tweets | 30 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
8988 views comments | 9 tweets | 17 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job