Alacra, NICE Actimize Partner on KYC-AML Solution

Workflow applications developer Alacra and NICE Actimize, the financial crime, risk and compliance solutions specialist announced a formal alliance, which will integrate Alacra’s customer onboarding and know-your-customer (KYC) tools into the NICE Actimize customer due diligence (CDD) anti-money laundering (AML) solution.

“NICE Actimize is a leading force in AML solutions, and we are looking forward to bringing our proven client onboarding and reference data integration tools and technology to its customers and their implementation of CDD capabilities,” said Steve Goldstein, chief executive (CEO) of Alacra.

“Having access to a multiple sources of politically exposed people (PEPs), sanctions and enforcement lists, as well as adverse news, will give financial institutions enhanced capabilities to be fully compliant with the latest AML and KYC standards.”

“Our customers and industry regulators have been demanding a more integrated tool to assess risk with their customer base,” said Joe Friscia, president, NICE Actimize. “By combining NICE Actimize workflow and analytics functionality with the KYC reference data tools from Alacra, we have created one of the industry’s most advanced and comprehensive risk assessment tools.”

The partners added that the main benefits of the joint product include: a unified interface for searching, accessing and appending negative news content to risk-rating reports; automation of a review process via alerts (based on data changes and ‘new negative news’); a scoring engine based on hundreds of built-in risk factors and algorithms.

With full integration to third-party data providers and proactive, real-time monitoring of breaking news, clients will have immediate access to the information needed to make critical decisions.


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