Published on 6 Mar, 2012
|Actimize Enterprise Risk Case Manager helps in managing alerts, case development and regulatory reporting
NICE Actimize, a NICE Systems company and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, recently announced that First Hawaiian Bank, a wholly-owned subsidiary of BNP Paribas, has expanded its relationship with NICE Actimize by selecting Actimize Enterprise Risk Case Manager to support the bank’s enterprise-wide financial crime strategy.
First Hawaiian Bank currently uses Actimize’s anti-money laundering solution to identify and report suspicious transactions related to money laundering and terrorist financing, and to meet current regulations and adapt to the evolving regulatory environment. As First Hawaiian planned its long-term financial crime technology strategy and roadmap, its compliance team identified the value and benefits of developing a long-term strategic partnership with a vendor who provides a broad risk experience.
Actimize Enterprise Risk Case Manager is designed to consolidate an operation’s existing detection systems into a single application for managing alerts, case development, regulatory reporting such as suspicious activity monitoring, exception reporting and investigations, and other compliance-related functions. By adopting a case and investigation management solution that could support the organisation’s fraud and AML needs, the institution will be able to detect patterns of activity across organisational silos allowing them the ability to reduce operational costs, stem financial losses, and limit the risk of regulatory fines.
“One of our objectives is to break down the walls between anti-money laundering and fraud, and we just couldn’t do that without first adopting a common technology platform upon which we could build for the future,” said Gina Anoneuvo, Executive Vice President and Chief Compliance Officer, First Hawaiian Bank. “We believe that centralised case management will support more efficient and collaborative data analysis across organisational silos, while providing long-term cost reduction benefits as our organisation grows.”
“Financial institutions of all sizes are recognising that effective enterprise-wide financial crime management is one of the single biggest factors impacting loss prevention and operational efficiency in today’s financial institutions,” said Amir Orad, President and CEO of NICE Actimize. “Our experience in helping both regional and global banks develop and execute upon an enterprise wide financial crime strategy will allow us to help First Hawaiian address these challenges today, while laying the groundwork for future growth.”