NICE Actimize Positioned as Highest-Scoring in 2024 Quadrant Knowledge Solutions SPARK Matrix AML Report

Scoring highest across both Technology Excellence and Customer Impact metrics, NICE Actimize offers AI-powered entity-centric AML

Hoboken, N.J.,– NICE Actimize, a NICE (NASDAQ: NICE) business, has been ranked by global advisory and consulting firm Quadrant Knowledge Solutions as the highest-scoring AML solutions vendor across both Technology Excellence and Customer Impact metrics in its recently released 2024 “SPARK Matrix™ Anti-Money Laundering (AML) Solution” report. The Quadrant Knowledge Solutions study provides competitive analysis and a ranking of the leading anti-money laundering vendors in the form of its proprietary SPARK Matrix.

Marking the fifth consecutive year for NICE Actimize’s leadership in the Quadrant Knowledge Solutions SPARK Matrix™ for AML, a complimentary copy of the 2024 report may be downloaded by clicking here.

Positioning NICE Actimize as a 2024 top performer in global anti-money laundering solutions, the Quadrant Knowledge Solutions report stated, “NICE Actimize employs advanced Machine Learning (ML) across its AML solutions suite, expanding the coverage to detect previously undetected suspicious activities. ML-driven segmentation, optimization, and predictive scoring help users reduce false positives and tuning cycle periods by leveraging AI generated threshold recommendations and leveraging predictive scoring to further enhance alert accuracy.”

According to the Quadrant Knowledge Solutions report, “NICE Actimize’s AML solution suite offers the cloud-native X-Sight Entity Risk Solution, an enterprise-wide entity risk assessment offering that utilizes APIs to connect and capture data from diverse internal and external data sources. The solution applies advanced AI and analytics capabilities, generates consolidated entity risk profiles, and establishes a standard measure of entity risk across domains, providing actionable insights with transparent risk scores. Facilitating continuous monitoring for risk signal changes, the solution enhances customer risk assessment.”

“NICE Actimize’s comprehensive end-to-end AML solutions suite, embeds AI capabilities at the core of its offerings to empower customers to make quicker, more accurate risk decisions, leading to cost reduction and heightened resource efficiency,” said Siddharth Arya, Analyst, Quadrant Knowledge Solutions. “With these and other advancements, including its investments in Generative AI, NICE Actimize has again achieved a leadership position in the 2024 SPARK Matrix: Anti-Money Laundering (AML) report.”

“NICE Actimize protects financial services organizations by providing a single integrated view of customer risk for more precise financial crime risk management. To mitigate uncertainties, we deliver AML and other financial crime solutions that maximize efficiency gains and effectiveness, with strong customer ROI and meeting regulatory compliance requirements,” said Craig Costigan, CEO, NICE Actimize.

The Quadrant Knowledge Solutions SPARK Matrix report also noted, “NICE Actimize has launched its new Suspicious Activity Report (SAR) narrative solution called X-Sight AI Narrate, addressing the manual, time-consuming and error prone process of accurately writing the SAR narrative. The solution leverages Generative AI to automate the SAR narrative generation process, transforming raw transaction data into clear, concise, and compliant SAR narratives.”

The report added, “The company’s technology roadmap also emphasizes increased focus on counterparty intelligence, real-time transaction monitoring, globalization, and industry-specific coverage, catering to distinct regional needs and addressing typologies in various sectors. Additionally, NICE Actimize aims to enhance cloud services, providing improved infrastructure for easier deployment and higher availability.”