In response to rising regulatory pressure and growing fraud and AML threats, Bank of Ireland (Dublin) has selected the Enterprise Risk Case Manager, Card Fraud and Anti-Money Laundering (AML) solutions of financial crime, risk and compliance solutions company NICE Actimize (New York), a NICE Systems company. NICE Actimize's single financial crime platform is expected to allow the bank to obtain a more holistic view of financial crime risk across the enterprise to help in its efforts to minimize risk and enhance regulatory compliance.
Bank of Ireland sought to be proactive by adopting a modern solution that can help it adapt to the evolving financial crime and regulatory landscape. "The implementation of NICE Actimize's solutions is an example of our institution's commitment to staying ahead of financial crime activity," said Dermot Mullen, divisional risk partner at the Bank of Ireland, in a press release. "Banks that invest in technology to protect their customers simply run more efficient businesses and reduce their operational losses. NICE Actimize's technology will help us to build upon existing preventative measures and to detect potential illicit behavior early on by providing Bank of Ireland with additional ability to monitor activity occurring within and across different segments of our organization. Further, the flexibility of NICE Actimize's platform will enable us to easily adapt as new regulations are enacted."
Bank of Ireland will implement across its businesses a number of NICE Actimize financial crime prevention solutions that will address fraud and money laundering risks.