NICE Actimize Launches Cloud and AI-Based AML Transformation for Leading Canadian FinTech KOHO
NICE Actimize AML Essentials addresses key FINTRAC guidelines
HOBOKEN, New Jersey, September 23, 2021– (BUSINESS WIRE) –NICE Actimize, a NICE (Nasdaq: NICE) and its cloud and AI-based AML Essentials solutions were chosen by the fintech company KOHO Financial, Inc., a Toronto-based online financial services provider, to support its innovative digital platform and further accelerate its growth in the market. Using NICE Actimize The essentials of the LBA, KOHO will also discuss key guidelines offered by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC). KOHO has partnered with Peoples Trust Bank to provide customers with a secure, free, worldwide usable spending account with instant cash back to simplify their personal finances.
KOHO will expand its financial crime operations with NICE Actimize AML Essentials solutions, including Suspicious Activity Monitoring (SAM) and CDD / KYC capabilities. Building on NICE Actimize’s proven end-to-end anti-money laundering platform, and leveraging the same power and experience as NICE Actimize’s enterprise solutions, AML Essentials enables rapid cloud deployment and lower overhead to facilitate compliance and at a lower total cost of ownership. KOHO will use Essentials Suspicious Activity Monitoring to monitor customer transactions, meet regulatory requirements and file reports, while leveraging Essentials Customer Due Diligence for KYC / CDD and Customer Risk Scoring, among many functions.
KOHO will also use NICE Actimize’s Essentials ActOne Extend risk case manager to ingest fraud alerts and automate financial crime investigations to improve the overall productivity of investigative teams.
“KOHO Financial took a forward-thinking approach to financial services management, and we wanted a compliance partner who understood innovation in digital financial services initiatives,” said Michael Fox, Vice President, Risks and Compliance, KOHO Financial, Inc. “With the legacy and experience of NICE Actimize in the fight against money laundering and financial crime, it is clearly KOHO’s preferred choice to modernize its AML program. “
“NICE Actimize’s cloud-based and AI-based capabilities will deliver exceptional performance in support of KOHO’s digital operations. As we continue to expand our presence in the Canadian banking and financial space, NICE Actimize is proud to support KOHO’s anti-money laundering initiatives with our Essentials solutions, ensuring compliance and providing a foundation for growth. “, said Craig Costigan, CEO, NICE Actimize.
For more information on NICE Actimize Anti-Money Laundering Essentials solutions, please click here.
KOHO is Canada’s leading fintech, providing Canadians with an alternative to traditional banking services. KOHO’s mission is to make the financial system transparent and intuitive. KOHO offers a full service account with no hidden fees. The account comes with a reloadable prepaid Visa card that can get cash back on every purchase, and a built-in app that helps users spend smart and save more.
About NICE Actimize
NICE Actimize is the largest and most comprehensive provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked number one in the space, the experts at NICE Actimize apply innovative technology to protect institutions and protect consumer and investor assets by identifying financial crime, preventing fraud and ensuring regulatory compliance. The company provides real-time cross-channel fraud prevention, money laundering detection and transaction monitoring solutions that address issues such as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us on www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.
With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the world to create extraordinary customer experiences while meeting key business metrics. Powered by the world’s # 1 cloud native customer experience platform, CXone, NICE is a global leader in AI-powered contact center software. More than 25,000 organizations in more than 150 countries, including more than 85 from the Fortune 100 companies, partner with NICE to transform – and elevate – every customer interaction. www.nice.com.
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This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements by Mr. Costigan, are based on the current beliefs, expectations and assumptions of management. by NICE Ltd. (the society “). In some cases, such forward-looking statements may be identified by words such as “believe”, “expect”, “seek”, “may”, “intend”, “intend”, “Should”, “plan”, “anticipate”, “” plan “,” estimate “or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause results or Actual Company performance differs materially from those described herein, including, but not limited to, the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic ; competition; the successful execution of the Company’s growth strategy; the success and growth of the Company’s Cloud Software-as-a-Service business; changes in technology and market demands; declining demand for the Company’s products; in ability to develop and introduce new technologies, products and applications in a timely manner; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution agreements; the Company’s reliance on third-party providers of cloud computing platforms, hosting facilities and service partners;, cybersecurity attacks or other security breaches against the Company; the effect of any newly enacted or amended laws, regulations or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the United States Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the Company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company assumes no obligation to update or revise them, except as required by law.
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Cindy Morgan-Olson, +1 646 408 5896, NICE Actimize, [email protected]