Leading the industry with solutions supporting digital financial services offerings,NICE Actimize, a NICE (Nasdaq: NICE) businessand the leader in Autonomous Financial Crime Management, was selected byCircle, a leading global crypto finance company, to implement its market surveillance and protections strategy. Through the usage of NICE Actimizes Cloud Markets Surveillance (MS) solution, Circle will augment key infrastructure to guard against market manipulation across its exchange and trading products which currently see more than $3 billion in monthly trading volume.
The NICE Actimize Markets Surveillance (MS) solution enables firms to quickly and cost effectively detect sophisticated forms of market manipulation including pump and dump, layering and insider trading – all significant threats to crypto trading. Also important, NICE Actimize MSs configurable rules engines reduce false positives and costs by enabling firms to tailor alert thresholds to their customers trading activity.
As a leading crypto finance company, it was important that we work with a leading financial crime solutions provider like NICE Actimize which provides industry-leading solutions for the rapidly changing financial crime, risk and compliance landscape, saidRobert Bench, Head Regulatory Counsel and Chief Compliance Officer, Circle.Circle has adopted a strong position on policy and crypto-related regulatory issues that focuses on the safety of our customers and investors. Adapting innovative technology solutions, such as the financial markets compliance solutions from NICE Actimize, to meeting the potential needs of regulators and protecting our assets brings this commitment full circle.
Added Bench, There are a number of markets surveillance vendors that address traditional asset classes, but we needed a partner that could adapt their traditional market expertise to the unique elements of the crypto market. NICE Actimize was chosen as the partner which could offer that adaptability.
As we lead the digital financial services industry with breakthroughs in artificial intelligence and advanced analytics, NICE Actimize will continue to innovate on behalf of the newest financial product categories, including cryptocurrencies, digital wallets, and more, saidCraig Costigan. CEO, NICE Actimize.We recognize that Circle is a category leader committed to the highest standards of customer safeguards and are excited to be one of the industrys first financial crime solutions providers to tackle the exciting new cryptocurrency category with secure and cost-effective protections.
Leveraging NICE Actimizes experience with OTC instruments, the MS solution provides a comprehensive package of surveillance models that enables global regulatory compliance across products and markets. The solutions proven analytic capabilities offer fully automated surveillance and end-to-end workflow management, investigation, audit, and reporting/dashboard capabilities. The MS solution also utilizesActOne, the markets first AI-enabled financial crime investigation management platform that serves as the next generation alert and case management platform.
For additional information on NICE Actimize Market Surveillance solutions, please clickhere.
About Circle
Circle is a global crypto finance company, built on blockchain, powered by crypto assets, and dedicated to helping people and institutions create and share value globally. With its suite of products, Circle enables its customers to send and receive money around the world easily, as well as invest in and trade crypto assets. Learn more at circle.com.
About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers and investors assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading.
