NICE Actimize, a subsidiary of NICE, has launched SURVEIL-X Behavior, the latest addition to its SURVEIL-X Holistic Employee Conduct Surveillance suite.
The suite leverages AI capabilities to deliver comprehensive compliance coverage for online brokers, buy-side and sell-side firms, insurance companies, cryptocurrency exchanges, regulators, and more.
By incorporating technologies such as anomaly detection, natural language processing (NLP), and alert prediction, SURVEIL-X enables precise detection and rapid investigation of market abuse, inappropriate sales practices, employee misconduct, and other compliance issues.
The new artificial intelligence (AI)-driven solution enhances the existing capabilities of the suite, which already covers markets, communications, sales practices and suitability, and conflicts of interest.
SURVEIL-X Behavior offers financial services firms a deeper understanding of employee behavior by providing insights across various dimensions, allowing them to proactively address conduct risks.
According to NICE Actimize, one of the key features of SURVEIL-X Behavior is its ability to alert managers when certain thresholds are breached, such as incomplete compliance training or a high number of customer complaints.
By identifying the risk factors, managers can take preventative measures like coaching, retraining, implementing new policies, conducting investigations, or placing employees or departments under increased supervision.
SURVEIL-X Behavior offers several advanced capabilities, including the ingestion of metrics and alerts from hundreds of sources, including human resources, customer complaints, access control, learning management, and surveillance systems.
The solution will utilise AI technologies to analyse employee behaviour across multiple dimensions.
Besides, it monitors factors such as aggressive selling, expense violations, excessive customer complaints, unauthorised system access attempts, attendance issues, breaches of non-public information, conflicts of interest, and vacation violations.
NICE Actimize’s SURVEIL-X Behavior solution allows firms to assign different weights to certain factors in the aggregate risk score, which is displayed on a visual dashboard.
Managers can delve into the data to examine underlying factors contributing to the scores. The dashboards and automated reporting features of SURVEIL-X Behavior provide insights into areas of concern at the individual, departmental, divisional, team, and organisational levels.
