NICE Actimize Chosen by Thailand’s Bank of Ayudhya to Manage Anti-Money Laundering Compliance with Intelligent Automation

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NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, has been chosen by Bank of Ayudhya/Krungsri,

Thailand’s fifth largest financial institution, to transform its anti-money laundering compliance and case management platform.

To more effectively meet the needs of its regulators and support its growing customer base, Bank of Ayudhya will implement NICE Actimize’s recently launched Suspicious Activity Monitoring (SAM9) solution, as well as Actimize Act One, an investigation management system utilizing intelligent automation that will serve as the financial institution’s next generation alert and case management platform.

“Krungsri Group’s core philosophy is founded on good governance with a steadfast commitment to fight against money laundering and financial crime. The NICE Actimize solutions, using intelligent automation and a strong case management approach, are designed to enrich our anti-money laundering efforts and strengthen our program to counter terrorist financing activities,” said Saengchart Wanichwatphibun, Chief Compliance Officer, Bank of Ayudhya. “Since the NICE Actimize solutions go beyond the traditional rules-based controls, with the addition of machine learning and robotics to reduce false-positive alerting and to speed up investigations, we believe that they will contribute to our efforts to make our fight against financial crime more efficient and effective.”

“This important implementation for NICE Actimize in Southeast Asia demonstrates the strength and accessibility of our end-to-end offerings,” said Joe Friscia, President, NICE Actimize. “We are seeing major adoption around the globe for our AI-enabled anti-money laundering and case management solutions. When integrated, our AML and ActOne solutions provide increased accuracy and productivity, improved return on investment and a clear path to supporting regulator requirements.”

NICE Actimize’s latest versions of its Suspicious Activity Monitoring (SAM) solution, which combines machine learning analytics for laser-accurate crime detection with robotic process automation, virtually eliminates costly manual data gathering tasks thereby increasing team productivity and reducing investigation time for a single alert by up to 70 percent. The new Suspicious Activity Monitoring solution introduces NICE Actimize’s innovative concept of Autonomous Financial Crime Management to the anti-money laundering category for the first time. 

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Friscia, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the Company). In some cases, such forward-looking statements can be identified by terms such as believe, expect, may, will, intend, project, plan, estimate or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the Company’s customer base (particularly financial services firms) potentially impacting our business and financial condition; competition; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; and the effect of newly enacted or modified laws, regulation or standards on the Company and our products. For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the Securities and Exchange Commission, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.