NICE Actimize has unveiled SURVEIL-X Behavior, the latest addition to its comprehensive SURVEIL-X Holistic Employee Conduct Surveillance suite.
This new product aims to equip financial services firms with enhanced tools to monitor and manage employee behavior effectively, ensuring proactive identification of potential conduct risks.
The need for the SURVEIL-X Behavior solution stems from the increasing complexity of managing employee conduct and compliance within the financial services industry. Financial firms are constantly seeking more effective ways to monitor and evaluate the vast dimensions of employee behavior that could pose risks to the organization’s integrity and compliance stance.
NICE Actimize is recognized as a leader in providing advanced analytical solutions to the financial services industry. Their products are designed to help organizations manage compliance and regulatory requirements more efficiently while minimizing risks associated with financial crimes and unethical behavior.
SURVEIL-X Behavior is engineered to alert management to potential risks by monitoring various metrics and behaviors. It aggregates data from numerous sources such as HR records, customer complaints, and access control logs to create a comprehensive profile of employee behavior. This holistic view helps firms to take preemptive actions to mitigate risks.
The solution’s capabilities include ingesting data from hundreds of sources, leveraging AI to analyze behavior across multiple dimensions, and providing detailed insights through visual dashboards and automated reporting. This enables managers to identify and address areas of concern at individual and departmental levels effectively.
In addition to these features, SURVEIL-X Behavior allows firms to weight certain risk factors more heavily in an overall risk score, facilitating tailored risk management strategies. This flexibility ensures that firms can prioritize areas of highest concern based on their specific operational and compliance needs.
Among other advancements, the SURVEIL-X suite also incorporates technologies like anomaly detection and Natural Language Processing (NLP) to improve the detection and investigation of compliance issues across various aspects of employee conduct.
NICE executive vice president Chris Wooten said, “Employees are a firm’s most valuable asset, but certain behaviors can negatively impact the firm’s reputation or bottom line. Risky behaviors can expose an organization to unnecessary risk. SURVEIL-X Behavior consolidates metrics from many systems into a single behavioral profile to provide firms with a comprehensive understanding of employee conduct.”
Datos Insights strategic advisor, capital markets Vinod Jain said, “Most surveillance systems today focus exclusively on individual domains, such as trading or communications, to the exclusion of behavioral factors which contribute to risk and ultimately impact a firm’s reputation, profitability and market valuation. These metrics are traditionally stored in various, fragmented systems, making it difficult to secure a reliable and comprehensive picture of employee behavior.”
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