NICE Actimize Launches AI-Powered Trade Surveillance Solution

SURVEIL-XNICE Actimize, a leader in autonomous financial crime management, has launched an AI-powered, cloud-native 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 product, SURVEIL-X, aims to address the growing demand for next-generation surveillance technology capable of detecting the “unknowns” of today. The solution provides 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 the total cost of ownership.

Using an advanced surveillance methodology, SURVEIL-X enables for far greater and more comprehensive risk detection as it takes a situational approach to surveillance. Without manual intervention, the solution discovers all facets around market manipulation actions, pieces them together and delivers a single alert to compliance for review.

NICE Actimize is targeting both buy- and sell-side firms, insurance companies, crypto exchanges, and regulators, for their growing need of accurate detection and rapid, thorough investigation of market abuse, inappropriate sales practices, in order to insulate firms from fines and reputational damage.

Chris Wooten, Executive Vice President at NICE, commented: “For financial services organizations, surveillance capabilities have become a compliance necessity for detecting known regulatory risks. The only problem is that risk is a moving target, and the things you don’t know or uncover can also hurt your firm. With SURVEIL-X’s complete surveillance coverage, AI-powered analytics and anomaly detection, and its other next-generation surveillance capabilities, FSOs can move out ahead of the curve and insulate themselves from
reputational damage and fines.”

SURVEIL-X looks for connected actions across sources and generates a single alert with all the applicable data for compliance to review. 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.

The solution uses machine learning, anomaly detection, smart classification, advanced speech, and behavioral analytics, and Natural Language Understanding to reduce false positives by up to 90 percent.