NICE Actimize, a NICE Systems software platform for the financial services industry, has been chosen by Republic Bank of Chicago to implement Actimize Anti-Money Laundering solutions, including the Actimize Suspicious Activity Monitoring and Customer Due Diligence solutions, in support of the community bank's recently updated anti-money laundering strategy. The implementation of the Actimize AML solutions are designed to be more cost-effective, obtain better quality alerts, provide greater consistency to better support regulatory compliance, and reduce risk. The Actimize Suspicious Activity Monitoring solution provides Republic Bank of Chicago with extended scenario coverage to identify and report suspicious transactions related to money laundering and terrorist financing, by leveraging one of the industry's libraries of detection rules, and the capability to combine profile and behavioral analytics.

In addition, the Actimize Customer Due Diligence solution provides dynamic customer onboarding and risk scoring as part of Know Your Customer due diligence processes, thus providing increased assessment accuracy of customer risk throughout the customer relationship lifecycle. With the Actimize solutions, Republic Bank of Chicago can automate CDD policies and processes to streamline onboarding and can reduce approval response time, improve customer experience, and maintain comprehensive risk evaluations that meet regulatory compliance scrutiny.