Rakuten Securities Selects NICE Actimize’s AML Solutions

NICE Actimize announced today that it has been chosen by Rakuten Securities, a major online brokerage throughout Japan and across Asia, to implement an anti-money laundering compliance platform to protect and support its investor clients and meet regulatory requirements.

NICE Actimize is a large, London-based provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators.

Rakuten Securities said it would utilize solutions from NICE Actimize’s Autonomous Anti-Money Laundering portfolio, initially rolling out the CDD-X Customer Due Diligence platform. This will be followed by Suspicious Activity Monitoringand Watch List Filtering solutions at a later date to help improve operational efficiencies and reduce costs.

An integral part of its Autonomous Anti-Money Laundering suite, NICE Actimize’s CDD-X Customer Due Diligence platform modernizes KYC/CDD programs with advanced Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term, according to the firm.

Providing more accurate detection and customer risk scoring to reduce compliance risk, NICE Actimize’s CDD-X provides significant reductions in operational costs and offers key features beneficial for an online brokerage operation, Rakuten Securities said its announcement.

NICE Actimize’s CDD-X Customer Due Diligence solution also offers embedded automation capabilities that streamline tasks related to ultimate beneficial ownership (UBO), adverse media, data flow with Customer Relationship Management (CRM) Customer Relationship Management (CRM) Customer Relationship Management (CRM) is a way for brokers to manage the firm’s contacts with existing and potential clients. The firm is using data available from the customer’s trading activity to determine an appropriate course of action when aiming to retain or onboard the customer.This technology is also an effective tool in managing a company's interaction with both current and potential clients. CRMs use data analysis regarding clients’ history with a company to improve business relation Customer Relationship Management (CRM) is a way for brokers to manage the firm’s contacts with existing and potential clients. The firm is using data available from the customer’s trading activity to determine an appropriate course of action when aiming to retain or onboard the customer.This technology is also an effective tool in managing a company's interaction with both current and potential clients. CRMs use data analysis regarding clients’ history with a company to improve business relation Read this Term) systems, and more.

By enabling a curated set of pre-built connectors, CDD-X also leverages third-party risk factors to increase the accuracy of customer risk ratings during onboarding and ongoing monitoring to provide more intelligence to analysts. Additionally, pre-built connectors make integration simple where data acquisition and aggregation has traditionally been difficult.

“As many financial institutions worldwide pursue a more data-driven, advanced approach towards anti-money laundering initiatives, we are confident that the capabilities of these new solutions will bring great value to both our operations and the customers we serve,” said Keisuke Ichihara, director and executive officer at Rakuten Securities. “NICE Actimize’s deep experience, accumulated through strong relationships with financial institutions, will help us achieve our objectives as part of our renewed anti-money laundering strategy.”

“NICE Actimize is excited to provide our advanced anti-money laundering solutions to Rakuten Securities, the online brokerage market leader in Japan and the greater Asia-Pacific,” Craig Costigan, CEO at NICE Actimize, said.

Solid AML to protect from more sophisticated criminals

“As the AML regulatory landscape evolves and the criminals become more sophisticated, compliance teams need a solid AML program that meets these changing requirements, while reducing costs and improving operational efficiency. We look forward to providing Rakuten robust solutions that will help them address these challenges while staying ahead of market and regulatory changes,” Costigan noted.

The firm said that additionally, NICE Actimize’s Suspicious Activity Monitoring solution combines cutting-edge technology with human-expertise to ensure accurate alert detection, increased team productivity, and lowered compliance program costs.

Lastly, NICE Actimize’s Watch List Filtering capability, with its consistent, global sanctions screening and high-quality alerts, increases operational efficiency, reduces compliance costs, and assists in meeting regulatory requirements, the firm added.