News

Thai bank upgrades anti-money laundering tools

Bank_of_Ayudhya_KrungsriThe Bank of Ayudhya/Krungsri, Thailand's fifth largest financial institution, has chosen to deploy technology from NICE Actimize to help prevent money laundering. The bank will implement a newly launched tool that employs artificial intelligence to reduce manual data gathering with the aim of cutting the time needed to investigate alerts. Saengchart Wanichwatphibun, chief compliance officer at the bank, said the tools, “go beyond the traditional rules-based controls, with the addition of machine learning and robotics to reduce false-positive alerting and to speed up investigations”. Actimize is a subsidiary of Israeli technology firm NICE, whose stock is traded on Nasdaq and the Tel Aviv Stock Exchange. “We are seeing major adoption around the globe for our AI-enabled anti-money laundering and case management solutions,” said Joe Friscia, president of NICE Actimize. ©2018 funds global asia

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