Michigan-based Flagstar Bank has selected NICE Actimize’s anti-money laundering and case management solutions to transform its financial crime strategy.
Under the collaboration, NICE Actimize will deploy its Suspicious Activity Monitoring (SAM9) solution as well as its investigation management system Actimize ActOne.
Go deeper with GlobalData
The transformation process will start with the implementation of the Actimize Suspicious Activity Monitoring, SAM9, which combines NICE Actimize’s Autonomous Financial Crime Management to the SAM anti-money laundering solution.
Subsequently, NICE Actimize’s ActOne Management System will be deployed across Flagstar Bank operations.
ActOne, working simultaneously with the AML solution, enhances analysts’ decision making as well as reduces investigation time for every system alert by up to 70%.
Flagstar Bank director of BSA/AML compliance Matthew Paulsen said: “Over the course of our relationship, we have come to value NICE Actimize for their deep industry experience and investment in leading-edge financial crime products, such as their anti-money laundering and advanced case management solutions.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“We are particularly excited about the synergies and the end-to-end capabilities that SAM9 and ActOne will bring to Flagstar in helping us fight financial crime.”
NICE Actimize president Joe Friscia said: “This innovative financial crime system can ultimately be transformed by applying AI-enabled robotics and automation to its ecosystem.
“Together, our AML and ActOne solutions provide the key to better resource utilisation, increased accuracy and productivity, and improved return on investment.”
Flagstar Bancorp is a nearly $18.1bn savings and loan holding company which offers consumer, commercial and small business banking services through its 107 branches across Michigan and California.
