NICE Actimize changes trade-related surveillance

NICE Actimize, a NICE (Nasdaq: NICE) business and the provider of Autonomous Financial Crime Management, is introducing SURVEIL-X, the industry´s first AI-powered, cloud-native, true holistic trade-related surveillance solution that detects all forms of risky behavior to ensure compliance with key global regulations, including MIFID II, Dodd-Frank, Regulation Best Interest and others, while also protecting FSOs from previously undetectable risks that could result in fines and reputational damage, the company said.

NICE Actimize´s SURVEIL-X revolutionizes surveillance by providing complete surveillance coverage with both AI-powered and traditional expert rule-based analytics, and advanced visualization tools, all on a cloud-native platform that drives down total cost of ownership. Utilizing the latest AI technologies, SURVEIL-X uses a fundamentally different, advanced surveillance methodology, enabling for far greater and more comprehensive risk detection.

Taking a situational approach to surveillance, SURVEIL-X intelligently discovers all facets around market manipulation actions, pieces them together without manual intervention and delivers a single alert to compliance for review to increase the probability of finding true risk and delivering clear understanding of the risk discovered.

SURVEIL-X offers unparalleled risk coverage for buy- and sell-side firms, insurance companies, crypto exchanges, regulators and more, by enabling accurate detection and rapid, thorough investigation of market abuse, inappropriate sales practices, conduct risk and otherwise undetectable compliance risks to insulate firms from fines and reputational damage.

Where much of the current surveillance technology is limited by its ability to generate an alert using only one data set (i.e. trades or eCommunications or voice communications), SURVEIL-X looks for connected actions across sources and generates a single alert with all the applicable data for compliance to review. This expands the surveillance detection capabilities far beyond what is typically available today.

SURVEIL-X holistic surveillance removes data silos to provide comprehensive surveillance coverage for trade-related regulatory needs. It can connect to, ingest and analyze data from 150+ real-time data sources, including traditional market information, behavioral data derived from analytics, and various communication platforms. By analyzing surveillance data together in one platform, SURVEIL-X is redefining compliance processes to help FSOs cut through the clutter and identify true risks.

As a cloud-native solution powered by X-Sight, SURVEIL-X´s future-proof platform enables FSOs to benefit from faster deployment, reduced infrastructure, operational, training and maintenance costs, hassle free upgrades, seamless scalability, and improved resiliency and security — so they can stay a step ahead of new regulations. FSOs can also take advantage of the X-Sight Marketplace, which lowers integration barriers and shortens time-to-use for dozens of integrated third-party solutions.

NICE (Nasdaq:NICE) is the world´s provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions.