Whitestream offers blockchain-based compliance solutions that can monitor cryptocurrency fraud and market abuse

Helping financial services organizations keep up with a changing market landscape, NICE Actimize, a NICE business (Nasdaq: NICE) and the provider of Autonomous Financial Crime Management, has announced that Whitestream a blockchain analytics firm, has joined the X-Sight Marketplace, the industry´s first financial crime risk management-focused ecosystem designed to assist financial services organizations evaluate new point solutions and move to stay on top of a challenging regulatory and criminal environment, the company said.

The X-Sight Marketplace leverages the X-Sight Platform-as-a-Service and further expands the functionality offered by the platform. The NICE Actimize X-Sight Platform-as-a-Service offers a single, unified, cost-effective way for financial service organizations to rapidly innovate and to introduce new services while supporting best-in-class financial crime, risk and compliance management capabilities.

Whitestream, experts in extracting knowledge using blockchain analysis technology, addresses crypto-currency fraud and monitors market abuse on the blockchain, accomplishing this by generating alerts on trading frequencies, holding periods and watchlist/restricted lists. A Whitestream rating engine also helps market participants identify the most reliable entities on the blockchain. A unique algorithm analyzes traffic to map the bitcoin network and find blockchain “safe” areas, protecting participants from market abuse.

Technology providers such as Whitestream, that partner with NICE Actimize´s X-Sight Marketplace ecosystem, are reviewed for their ability to complement financial crime and compliance solutions. Once approved, software and service providers become available to the NICE Actimize community via the X-Sight Marketplace. FSOs can quickly browse through X-Sight Marketplace solution categories to find scalable options that solve their unique business problems.

Whitestream is a blockchain analysis company. Underlying Whitestream is a deep blockchain indexing technology and API data platform that help various financial service providers and organizations to quickly accommodate tailored blockchain compatible functionality for AMLCFT compliance purposes, fraud detection, data enrichment and more. For more information on the X-Sight Marketplace, please click here.

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators.

NICE is the worldwide 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.