NICE Actimize Selected by Valley National Bank to Implement Its New AML and Financial Crime Platform
Strategy
The implementation will first roll out Customer Due Diligence followed by other key anti-money laundering
capabilities
NICE Actimize, a NICE (Nasdaq:NICE) business and the industry's largest and broadest provider of a single financial
crime, risk, and compliance software platform for the financial services industry has been selected by Valley National Bank to
implement a unified financial crime platform initially focused on strengthened anti-money laundering capabilities. The
implementation will launch with NICE Actimize’s Customer Due Diligence (CDD) solution, following with Suspicious Activity Monitoring (SAM) and Case Management applications. Based in Wayne, New Jersey, Valley
National Bank holds approximately $23 billion in assets.
“We are ready to launch a new financial crime platform strategy, with an updated approach to monitoring regulatory and
compliance objectives. Early on, we recognized the benefits that a single, unified AML platform would provide throughout our
institution,” explained Sheila Leary, First Senior Vice President, Director of AML/BSA Compliance, Valley National Bank. “The
breadth and depth of NICE Actimize’s solutions, particularly across anti-money laundering and case management, offers us many
operational benefits while at the same time aligning well with our growth expectations as we add institutions to our expanding
network.”
Among the NICE Actimize strengths cited by Valley National are its deep industry experience, investment in a long-term product
roadmap, and specific experience and robust offerings in CDD, SAM, and Case Management. NICE Actimize’s functionality for CDD
supports the complete lifecycle assessment and re-assessment of customer risk as part of Know Your Customer (KYC) applicant
onboarding and ongoing customer due diligence processes including complex beneficial ownership structures.
Contributing to lowering Valley’s total cost of ownership while offering profiling capabilities that provide a single customer
view, NICE Actimize’s tools such as Policy Manager and DART (Detection and Research Tool) will help to ease AML compliance
requirements and to better implement more consistent AML transaction monitoring and CDD programs.
“This strategic win for NICE Actimize demonstrates the strength and accessibility of our AML solutions suite for financial
institutions of all sizes and types,” said Joe Friscia, President, NICE Actimize. “We look forward to supporting Valley’s financial
crime strategy as we implement a full range of compliance solutions as their trusted AML solution provider.”
For further information on NICE Actimize’s integrated anti-money laundering solutions and links to our webinar series, please go
to these additional resources:
- Registration for Transaction Monitoring Webinar Series — by clicking here.
- On our Blog — Look for related topics and thought leadership at www.niceactimize.com/blog.
- On our Culture of Compliance Website by clicking here.
About Valley National Bancorp
Valley National Bancorp is a regional bank holding company headquartered in Wayne, New Jersey with approximately $23 billion in
assets. Its principal subsidiary, Valley National Bank, currently operates over 200 branch locations in northern and central New
Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and Florida. Valley National Bank is one of the
largest commercial banks headquartered in New Jersey with Executive Offices in Manhattan and West Palm Beach. For more information
about Valley National Bank and its products and services, please visit a convenient branch location, valleynationalbank.com or call
our 24/7 Customer Service Team at 800-522-4100.
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. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq:NICE.
About NICE
NICE (Nasdaq:NICE) is the worldwide leading provider of both cloud and on-premises enterprise software solutions that empower
organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations
of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in
more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.
Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are
trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements, including the statements by Mr. Friscia, are based on the current beliefs, expectations
and assumptions of the management of NICE Ltd. (the Company). In some cases, such forward-looking statements can be identified by
terms such as believe, expect, may, will, intend, project, plan, estimate or similar words. Forward-looking statements are subject
to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from
those described herein, including but not limited to the impact of the global economic environment on the Company’s customer base
(particularly financial services firms) potentially impacting our business and financial condition; competition; changes in
technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new
technologies, products and applications; 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 arrangements; and the
effect of newly enacted or modified laws, regulation or standards on the Company and our products. 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
Securities and Exchange Commission, 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 undertakes no obligation to update or revise
them, except as required by law.
Press Contact:
NICE Actimize
Cindy Morgan-Olson, +1-551-256-5000
cindy.morgan-olson@niceactimize.com
or
Investors:
NICE Ltd.
Marty Cohen, +1-551-256-5354
ir@nice.com
Yisca Erez, +972-9-775-3798
ir@nice.com
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