Creand Crèdit Andorrà Selects NICE Actimize to Modernise and Expand its Global Anti-Money Laundering Strategy

NICE Actimize, a NICE (NASDAQ: NICE) business, has been chosen by Creand Crèdit Andorrà to upgrade and modernise its anti-money laundering (AML) solutions strategy by integrating an advanced suite of NICE Actimize’s financial crime solutions into its operations to address the world’s AML regulations more effectively. Creand Crèdit Andorra’s holdings include financial institutions in Andorrà, Luxembourg, Spain, Panama, and the United States.

Among NICE Actimize’s industry-leading AML offerings, Creand Crèdit Andorrà chose its Suspicious Activity Monitoring (SAM), Customer Due Diligence (CDD-X) and Watchlist Screening (WL-X) solutions highlighting its deep industry experience and continued investment and commitment to AML technologies, including intelligent automation, network analytics, machine learning capabilities and a robust case management component. 

“NICE Actimize continues to invest in its successful six-year relationship with Creand Credit Andorra and its network of financial services organisations,” said Craig Costigan, CEO, NICE Actimize. “As regulators further tighten rules around customer onboarding, NICE Actimize is committed to leveraging its experience in advanced analytics and transaction monitoring solutions. Our objective is to improve the efficiency of AML teams by reducing human effort and error and supporting regulators’ requirements to detect and report financial crime.”

“NICE Actimize established the foundation for our current anti-money laundering and financial crime platform, and we are pleased to take this success to the next level with its advanced portfolio of financial crime solutions,” said Marta Isern, Chief Compliance Officer, Creand Crèdit Andorrà. “Andorrà attracts investors from around the world, making it critical to have a sophisticated approach that both evaluates customer onboarding and monitors transactions effectively. NICE Actimize offers us a solid direction to help our institutions adapt with ongoing market fluctuations.” 

NICE Actimize’s Suspicious Activity Monitoring (SAM) ensures rapid detection of potentially illicit transactions, using advanced machine learning algorithms provide utmost precision. This system enhances an institution’s ability to spot and manage risk, to manage regulatory requirements and maintain the trust of customers. NICE Actimize’s CDD-X provides a risk-based approach and enhances customer life cycle risk management (CLRM) with event-driven risk monitoring, leveraging AI and machine learning.

NICE Actimize’s WL-X is its next-generation Watch List (WL-X) screening solution which leverages the power of artificial intelligence for superior data management, advanced screening capabilities and frictionless customer onboarding. WL-X features real-time and on-demand screening for parties and payments that leverages AI capabilities to match and screen against global sanctions, politically-exposed persons (PEPs), adverse media and other lists.