NEWS
Creand Crèdit Andorrà selects NICE Actimize to modernise its global anti-money laundering strategy
NICE Actimize has been selected by Creand Crèdit Andorrà to modernise and enhance its anti-money laundering ( AML ) strategy by integrating NICE Actimize ’ s advanced financial crime solutions . This move aims to strengthen Creand Crèdit Andorrà ’ s ability to meet global AML regulations more effectively .
Creand Crèdit Andorrà ’ s operations span multiple financial institutions across Andorrà , Luxembourg , Spain , Panama and the United States .
The financial institution has chosen NICE Actimize ’ s Suspicious Activity Monitoring ( SAM ), Customer Due Diligence ( CDD-X ) and Watchlist Screening ( WL-X ) solutions , recognising the company ’ s deep expertise and innovation in AML technologies . These solutions incorporate intelligent automation , network analytics , Machine Learning and comprehensive case management tools .
“ NICE Actimize continues to invest in its successful six-year relationship with Creand Crèdit Andorrà 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 ’ s SAM solution rapidly detects illicit activity with Machine Learning algorithms , while CDD-X enhances risk monitoring throughout the customer life cycle . WL-X uses AI for seamless screening against sanctions , politically-exposed persons ( PEPs ) and adverse media , ensuring effective transaction monitoring and compliance .
Businesses making substantial strides with UK GDPR
Four years since the implementation of the UK General Data
Protection Regulation ( GDPR ), Charlie Bromley-Griffiths , Senior Legal Counsel at Conga , says UK businesses have made substantial strides in aligning with its requirements
Introduced post-Brexit to maintain high data protection standards , UK GDPR has reshaped how organisations handle personal data , ensuring greater transparency , accountability and security .
Charlie Bromley-Griffiths , Senior Legal Counsel at Conga , said : “ Over the last four years , UK businesses have made substantial strides in aligning with UK GDPR requirements .
“ Companies have implemented stronger data governance policies , enhanced security protocols and prioritised the rights of data subjects . However , challenges still remain , particularly for SMEs struggling with the complexity and cost of full compliance . GDPR mandates stringent measures to safeguard consumer data , which includes data storage , processing and transfer practices , all of which impacts organisations ’ data strategies and operational costs .
“ The international data landscape is now rather complex . UK businesses handling data from the EU must also comply with the
EU GDPR . Then , of course , there is the US – UK data bridge , which forms part of the EU – US Data Privacy Framework and permits the flow of EU-based data to the US under certain conditions . All of which highlights the importance of maintaining dual or more adept compliance strategies to ensure smooth operations across borders – and , ultimately , preserve trust with customers , reassuring them that their data is safe .”
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