NICE Actimize, a NICE Systems (NASDAQ:NICE) company and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, today announced that Danish Saxo Bank is implementing a securities-specific, enterprise-wide Actimize Anti-Money Laundering (AML) suite. The bank will deploy Actimize Suspicious Activity Monitoring, Know Your Customer/Customer Due Diligence and Watch List Filtering solutions.
Once deployed across the bank's largest operations in Denmark and across its European and Asian businesses, Saxo Bank is expected to have a fully automated enterprise-wide platform supporting AML strategy and compliance. Saxo Bank is a rapidly growing online investment firm that is currently acquiring E*Trade's Nordics operations, which includes client accounts in Denmark, Iceland, Finland, Estonia, Latvia, Lithuania, Sweden and Norway.
"Saxo Bank required an AML platform that is flexible enough to grow quickly with the firm as it expands into new regions and businesses," said Henrik Alsoe, Senior Vice President at Saxo Bank. "After an extensive review of the available AML solutions, we determined that NICE Actimize's solutions would be the best fit for Saxo Bank. We needed a solution that provides comprehensive coverage and can be deployed quickly to help us manage our AML compliance risk. The NICE Actimize solutions provide us with the best out-of-the-box AML coverage and the flexibility to grow with our firm over time as well as adapt to changing regulations."
NICE Actimize provides an integrated AML solution suite, including transaction monitoring, watch list filtering, sanctions monitoring and know your customer / customer due diligence, to help financial institutions comply with anti-money laundering rules and guidelines from regulators around the world. NICE Actimize packaged solutions have been proven effective across global and regional banking, securities and insurance industries and offer rapid deployment and low total cost of ownership while leveraging a shared technology platform. NICE Actimize's integrated AML solution suite drives process efficiencies with shared activity profiles, workflow and a single customer view.
"NICE Actimize has a wealth of expertise in the capital markets industry," said Bruno Piers de Raveschoot, Managing Director, Head of NICE Actimize Europe and Asia Pacific. "We are very happy to add Saxo Bank, a pioneering firm in Northern Europe, to our client base by providing them with our full suite of AML solutions designed specifically for the securities industry."