The company says its business expansion plan aligns with the Thai government’s on-going effort to combat money laundering, as well as the increased prevalence of fraud and cybercrimes. The company provides real-time authentication, cross-channel fraud prevention, anti-money laundering (AML) detection, and trading surveillance solutions that address concerns such as sanctions monitoring, rates rigging, market abuse, customer due diligence and insider trading.
In Thailand, NICE Systems is actively serving the top 10 global banks and the Top 5 local banks. These banks standardize on NICE as regional technology partner for AML, Fraud, Analytics, Multi-channel capture & recording, Real-Time Authentication & Fraud Prevention.
As recent investigations at major international financial institutions have shown, banking regulators are demanding for more well-developed AML, insider trading and fraud prevention programs and controls in place at financial institutions. Leading banking and financial institutions are now actively pursuing an enterprise approach to AML, compliance in the light of regulatory demands for stricter supervision and heavy fines.“Thai banks are taking strong actions against money laundering, amidst a stricter regulatory environment and increased global scrutiny. Likewise there is an increasing prevalence of fraud and onslaught of cybercrime. NICE Actimize is partnering with Thai banks by bringing the best practices and global experience from implementing a large proportion of AML, integrated fraud management and trading surveillance implementations in the world’s largest banks”, said Mr. Amir Orad, President and CEO of NICE Actimize.
“As countries in the region move towards forming the ASEAN Economic Community (AEC) in 2015, NICE Actimize plays an important role in helping financial institutions meet the international and domestic compliance requirements between ASEAN member countries. Amidst the increasing number of financial transactions across jurisdictions, NICE Actimize enables regional financial institutions to promote transparency and implement meaningful controls to guard against cross-border money laundering, market abuse and fraud,” said Mr. Raghav Sahgal, President, NICE Asia Pacific.
“In Thailand, we are seeing a great demand for technologies that offer accurate detection across a higher volume of transactions. We have an unrivalled advantage through the use of advanced analytics and real-time technologies that will enable firms in Thailand to automate, streamline and drive down the costs while ensuring a positive customer experience.” said Sherie Ng, Managing Director of NICE South East Asia.
NICE Actimize features one of the most expansive sets of analytics and scenario-based AML management & FATCA compliance, critical to combat financial crime effectively. The Actimize 4th-generation AML analytics solution offers effective multi-cultural name filtering, including unique support for Asian languages, intelligent risk-based scoring and real-time interdiction of potential sanctions. NICE Actimize also provides an integrated fraud management suite that covers cybercrime, commercial banking, retail banking, card fraud, employee fraud, deposit fraud, and account fraud.
For more information, please contact:
Florence Heynard ([email protected]) & Sharon Tan ([email protected]]
NICE Systems
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