NICE strengthens its behaviour and trade monitoring solution with SURVEIL-X Conduct Surveillance

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NICE strengthens its behaviour and trade monitoring solution with SURVEIL-X Conduct Surveillance

Financial institutions must comply with the latest regulations, deal with an unstable market, different hybrid work models, new communication media: wrong choices can have serious consequences for companies. To help them avoid these mistakes, NICE Actimize, a NICE company, has announced enhancements to its comprehensive SURVEIL-X business behavior and trade monitoring solution.

SURVEIL-X now includes enhanced risk monitoring and detection capabilities, AI and natural language processing (NLP) applications, and an updated cloud architecture with five times the cloud scalability. It is specifically targeted at the insurance and buy-side industries, providing enhanced coverage, support for Microsoft Teams and new autonomous development capabilities.

With a newer artificial intelligence application, SURVEIL-X uses supervised machine learning for modeling from historical data to rank and prioritize alerts and lower the false positive rate. The advanced use of natural language processing allows for faster automated correlation of communications and market surveillance data, enabling trade reconstruction without delay.

Chris Wooten, Executive Vice President of NICE, said:

“As the industry’s first truly global, cloud-based, AI-driven behavioral monitoring solution, SURVEIL-X is already helping financial services companies around the world comply with international regulations and reduce the risk of fines and reputational damage.

With our latest enhancements to the SURVEIL-X solution, we’re raising the bar even higher, offering greater scalability, agility and detection coverage, combined with new AI applications to reduce false positives, as well as the ability to monitor Microsoft Teams communications.”

NICE Actimize’s SURVEIL-X Conduct Surveillance solution is also specifically targeting two market segments with its solution updates, namely the Buy-Side and Insurance industries. In terms of buy-side support enhancements, newly added and significantly improved market surveillance models provide detection coverage for many types of risky behavior, including suspicious volumes (equities), excessive quote scenarios (EBOs), backtrades, large order entry, FRO block orders, and more. For the insurance segment, SURVEIL-X now offers enhanced compliance support for firms selling life insurance, annuities, and other wealth products, with 16 new insurance analytic models designed to detect advisor misconduct, as well as a new Financial Representative Alerts Overview dashboard.

As remote and hybrid work environments become more prevalent, financial institutions are turning to the Microsoft Teams platform, which is powered by NICE’s NTR-X, the first Teams recording solution to be certified by Microsoft. Companies can monitor all Teams interactions, including voice, video, screen sharing and chat.

New self-service analytics features have been added that provide broader access to market data, customized agility, faster deployment of analytics, and self-service reporting. With SURVEIL-X, financial services institutions are empowered to adapt to changing regulatory and business requirements.

Translated from NICE renforce sa solution de surveillance des comportements et des échanges commerciaux grâce à SURVEIL-X Conduct Surveillance

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