Download Exposing the True Intent behind Market Events

NICE Actimize
Exposing the True Intent behind Market Events
“A
The Navigator for Enterprise Solutions
COMPLIANCE SPECIAL
D
NICE Actimize
recognized by
Pradeep Shankar
Editor-in-Chief
JULY 2014
achieve compliance and to mitigate associated risks.
While compliance often is initially viewed as an
unnecessary administrative burden with untenable
costs, the motivation behind the legislation is typically
a result of industries’ inability to effectively address
significant shortcomings in business practices.
Corporations have become concerned about
compliance because of increasingly stringent and
complex legal requirements. In this realm, there are
many technology developments that enable significant
improvements in fraud detection systems, ensuring
compliance.
To help CCOs, CIOs, and CEOs find the right
compliance technology and provider for their
enterprises, our selection panel has evaluated hundreds
of compliance technology providers that own innovative
technologies in this space. In our selection, we looked
at the vendor’s capability to fulfill the burning need of
cost-effective and flexible solutions to tackle complex
compliance challenges. We present to you CIO
Review’s 20 Most Promising Compliance Technology
Solution Providers.
Company:
Description:
NICE Actimize
Offers wide range of compliance solutions
that identifies financial crime, prevents
fraud and supports regulatory compliance
Key Person:
Website:
magazine as
An annual listing of 20 companies that are in the forefront of tackling
Compliance challenges and impacting the market place.
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CIOREVIEW.COM
20 Most Promising Compliance Solution Providers 2015
ue to the increasing number of regulations
and need for operational transparency,
organizations are increasingly adopting
the use of consolidated and harmonized sets of
compliance controls. Regulatory compliance often
requires providing sensitive corporate information to
government and service provider organizations. The
security and privacy components of compliance are
creating a more definitive baseline for data sharing
and protection.
As a corporate official in charge of overseeing and
managing compliance issues within an organization,
the Chief Compliance Officer maintains knowledge
about the recent policies and procedures, encouraging
managers and employees to report suspected fraud
and other improprieties without fear of retaliation.
Compliance with ongoing developments from DoddFrank Act, PCI-DSS, GLBA, FISMA, SarbanesOxley
Act, Joint Commission, and HIPAA are of high priority
for different fields. Given the scale of the regulatory
framework, it is clear that large-scale information
systems are necessary for major corporations to
CIOReview
NOVEMBER 13 - 2015
Puja Agrawal,
General Manager,
Financial Markets
Compliance
www.niceactimize.com
t its core, NICE Actimize
strives to offer consistent,
comprehensive, and nimble
compliance solutions that are adaptive to
new requirements and regulations,” says
Puja Agrawal, General Manager, Financial
Markets Compliance, NICE Actimize.
“The success of our approach to the
market is based upon our vision of offering
our clients a holistic view of risk.” The
company differentiates itself by providing
the widest portfolio of compliance-focused
solutions covering Holistic Surveillance,
Control Room/Information Barriers, Buy
Side Surveillance, and Sales Practices and
Suitability.
Founded in 1997, NICE Actimize
offers a wide range of compliance solutions
that identify financial crime, prevent
fraud, and ensure regulatory compliance.
In addition, the solutions also accelerate
visibility into complex cross product and
venue transactions, and help organizations
achieve greater operational efficiency and
transparency. “Our portfolio of unique
compliance solutions helps enterprises
stay compliant, effective, and competitive
while also lowering risk and chances of
reputational damage,” explains Agrawal.
With more than a decade of experience in complex over-the-counter (OTC)
markets and exchanges, NICE Actimize’s
industry-leading Holistic Surveillance
solution provides powerful integration and analytics that look
across all asset classes, instruments and channels of communication, enabling financial institutions to connect
the dots, recognize patterns
of risky behaviour, and
identify compliance
breaches that might
otherwise be difficult to find. The
solution allows
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CIOReview
November 2015
adherence to Europe’s MAR (Market
Abuse Regulation) and other similar laws
globally by exposing true intent behind
market-events while providing the ability
to reconstruct the complete OTC trade cycle as required by the U.S.’s Dodd-Frank
regulation.
NICE Actimize prides itself on its
ability to act as a single provider for
enterprise compliance needs, offering
the full depth and breadth of coverage
that firms need today. “The opacity and
idiosyncrasies of FICC (Fixed Income,
Currencies and Commodities) trading
business have resulted in dramatic changes
across the compliance management
landscape,” says Agrawal. “We’ve seen
that OTC markets are no longer too big,
too deep and too smart to be manipulated
and have recently accounted for many
affected reputations among firms.” To
combat these practices, NICE Actimize
offers enterprise-class FICC analytics to
detect and prevent malpractices transpiring
across asset classes. “Rather than applying
a ‘one-size fits all’ approach, our solutions
have been crafted to fulfill the respective
needs of individual asset classes and
instrument types,” says Agrawal.
“Electronic trading is now responsible
for approximately 75 percent of the Forex
market. While electronic trading supports
liquidity, it also presents opportunities
for exploitation and market abuse,”
says Agrawal. NICE Actimize
efficiently tackles concerns of this
high-speed market, and comes up
with sophisticated algorithms to
separate legitimate activities
from noise. All of this,
coupled with company’s
expertise in addressing
key compliance painpoints, allows them to
serve many top-tier
Puja Agrawal
global institutions.
To address the rapid pace of regulatory
changes, NICE Actimize has also added
focused investment to enhance its existing
cloud offering to bring a comprehensive
cross asset class solution to the cloud.
“Besides offering these and other valueadded benefits, our solutions incorporate a
single comprehensive risk case manager to
monitor end-to-end risks,” she added.
Our portfolio of unique
compliance solutions
helps enterprises to stay
compliant, effective, and
competitive while also
lowering risk and chances
of reputational damage
In one example, a large global
firm chose NICE Actimize’s Holistic
Surveillance solution to address timesensitive regulatory pressures at both its
Buy Side and Sell Side operations. The
out-of-the- box approach of the solution
helped the client to gain a holistic view
of complete trades, meet regulatory
requirements and demonstrate predictive,
preventative compliance to regulators,
clients and investors.
Driven by customer demands, NICE
Actimize continues to invest in cuttingedge technology including Big Data and
“right-time” processing to build worldclass solutions for today’s globally
interconnected financial markets. “Our
culture is focused on building a robust set
of solutions that provides next-generation
compliance intelligence and supports
compliance-driven best practices for our
clients,” concludes Agrawal.
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CIOReview
JULY 2014