Behavioural analytics takes another step forward
Nice Actimize, the US-headquartered provider of financial crime, risk and compliance software, has introduced a new product – Holistic Behavioral Analytics – that is intended to step up the ability of financial institutions to uncover threats related to conduct.
The new solution is intended to identify risks fond in areas of business that are typically siloed from other parts. It does this by looking at volumes of trades, communication and other data, related to those in trader, account, broker, desk or counterparty roles.
Nice said that regulators such as the Financial Industry Regulatory Authority (Finra), the Financial Conduct Authority (FCA) and the Securities Futures Commission of Hong Kong (SFC) typically require regulated firms to ensure compliance is in place to deal with conduct risk.
Joe Friscia, president, NICE Actimize, said: “The integration of advanced behavioral analytics into traditional analytics reduces the cost of compliance and saves analysts time by eliminating the all too often alerts traffic jams.”