NICE Actimize has been selected by Indonesia’s Bank Mayapada Internasional to improve its financial crime operations.
The company will do this via its AI and machine learning-powered anti-money laundering (AML) compliance and investigation management solutions.
To meet carious regulatory requirements, the bank will leverage several of Nice Actimize’s tools including its suspicious activity monitoring, customer due diligence and watchlist filtering solutions.
Bank Mayapada will adopt the AML solutions to mitigate fraud risks and enhancing its zero-tolerance policy towards money laundering.
Nice Actimize’s KYC/CDD solution leverages AI to offer accurate detection and customer risk scoring to lower compliance risk. The operational costs are realized through visualisation and automation to streamline customer review.
Its Suspicious Activity Monitoring (SAM) solution makes use of machine learning analytics for accurate detection with intelligent automation which lowers false positives.
Bank Mayapada compliance head Chandra Kurniawan said, “Offering complete end-to-end capabilities that enrich our anti-money laundering efforts and strengthen our programs, NICE Actimize’s innovations in machine learning and advanced case management will enable us to improve our entire financial crime operations effectiveness and efficiency.”
Earlier in the month, Puerto Rican challenger bank Zenus Bank also revealed it will be leveraging NICE Actimize’s AML technology to improve its autonomous financial crime management.
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