UAE Exchange selects NICE Actimize to strengthen compliance architecture

UAE: UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has joined hands with NICE Actimize to strengthen its compliance architecture. NICE Actimize, a NICE Systems (NASDAQ:NICE) business, is the largest and broadest provider of financial crime, risk and compliance solutions for the financial services industry. NICE Actimize will design a portfolio of financial crime solutions, including Actimize Anti-Money Laundering and Actimize Integrated Fraud Management (IFM) solutions for UAE Exchange.

“At UAE Exchange, our objective has always been to strengthen our ability to fight financial crime by investing in proven compliance and monitoring systems,” said Promoth Manghat, CEO, UAE Exchange. “We were looking for AML sanction screening, customer due diligence and transaction monitoring systems that could be implemented across our branches, globally. These solutions are being customised and integrated with our own technology architecture, transaction systems and fraud management so as to reduce monitoring costs, improve investigative efficiency and provide comprehensive regulatory coverage. We are glad to associate with NICE Actimize and further augment our compliance programme.”

Core to UAE Exchange’s new corporate compliance implementation will be NICE Actimize’s Suspicious Activity Monitoring, Customer Due Dilgence and Watch List Filtering capabilities. With these solutions, the financial institution will leverage improved analytics within the Actimize transaction monitoring system to increase flexibility during the customer on-boarding process. The enhanced functionality available within Suspicious Activity Monitoring and Customer Due Diligence solutions will allow the institution to more efficiently address evolving money laundering and terrorism financing threats.

These systems, coupled with the Actimize Integrated Fraud Management Platform, will also provide UAE Exchange real-time alerts for money laundering and fraud scenarios.

“Our team of former compliance officers and other subject matter experts stays current with the rapidly evolving global regulatory environment,” said Ed Sander, Global VP and General Manager, Anti-Money Laundering, NICE Actimize. “We believe that the mission of UAE Exchange and NICE Actimize are perfectly aligned in their common objective to protect financial institutions and their customers in emerging markets from a range of financial crimes, including money laundering schemes and similar concerns.”

About UAE Exchange

UAE Exchange is a leading global remittance, foreign exchange and payment solutions brand. It is also the widest globally networked remittance brand with over 750 branches spread across 31 countries in 5 continents. Its strong correspondent banking relationship with over 140 global banks adds to the might. Over 9000 professionals representing over 40 nationalities, strive to achieve excellence and bring delight to its over 7.9 million customers worldwide. This penchant for quality has won UAE Exchange the ISO certified brand and many other global awards for quality and business excellence. For more information, please visit

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumer and investor assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading.

Leave a Reply