HOBOKEN, N.J.--(BUSINESS WIRE)--
Leading the industry with solutions protecting mobile financial services offerings, NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, was chosen . a leading all-mobile banking company to implement its financial crime strategy for anti-money laundering protections including AML/KYC requirements, sanctions screening and transaction monitoring capabilities.
Varo will integrate NICE Actimize’s , a software-as-a-service (SaaS) solution created to meet end-to-end anti-money laundering detection requirements, and which provides multiple best-of-breed modules that detect and score a range of banking activities, including customer due diligence, transaction monitoring, watch list filtering, and Suspicious Activity Report (or SAR) filings.
According to Varo, its mission is to help its customers improve their financial health and save more money. The company is working to become the first mobile-centric national bank in U.S. history and in August 2018, Varo was granted preliminary approval for a national bank charter by the Office of the Comptroller of the Currency (OCC).
“Varo Money is clearly innovating in the mobile banking space, and we are proud to have been selected by the Varo team to lead its anti-money laundering initiatives with our Essentials anti-money laundering solutions," said Craig Costigan, CEO, NICE Actimize. "As we address the mobile financial services industry, NICE Actimize will continue to offer advances targeting the newest financial product categories. We are particularly excited to apply these resources to one of the industry’s clear innovators in the mobile banking domain.”
“Varo offers mobile banking services to customers that come with the highest standards of consumer protection,” said Colin Walsh, Co-founder and CEO, Varo Money. “Helping our customers improve their financial health is core to our mission, and that includes keeping all aspects of their banking safe and secure.”
For additional information on NICE Actimize AML Essentials, .
For a YouTube Video on NICE Actimize AML
Essentials, .
About Varo Money
is on a mission to redefine banking so it’s
easy for everyone to make smart choices with their money. In one mobile
app, Varo offers customers no-cost1 premium bank accounts and
high-interest savings accounts offered through The Bancorp Bank, and
tech-first features to help people manage their money more easily. As a
fintech leader, Varo has been granted preliminary approval for a de novo
national bank charter by the Office of the Comptroller of the Currency
(OCC), and is working to become the first mobile-centric national bank
in U.S. history. Based in San Francisco and Utah and privately held,
Varo has raised $165M to date, led by Warburg Pincus. Varo Personal
Loans are offered by Varo Money, Inc., under state licenses, subject to
application approval. For more information, visit ,
like Varo on Facebook, and follow us on Instagram and Twitter .
1 Bank Account Services provided by The Bancorp Bank; Member FDIC.
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 consumers and investors 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. Find us at ,
@NICE_Actimize or Nasdaq: NICE.
About NICE
NICE (Nasdaq: NICE) is the world's leading
provider of both cloud and on-premises enterprise software solutions
that empower organizations to make smarter decisions based on advanced
analytics of structured and unstructured data. NICE helps organizations
of all sizes deliver better customer service, ensure compliance, combat
fraud and safeguard citizens. Over 25,000 organizations in more than 150
countries, including over 85 of the Fortune 100 companies, are using
NICE solutions.
Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: .
Forward-Looking Statements
This press release
contains forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Costigan are based on the
current beliefs, expectations and assumptions of the management of NICE
Ltd. (the Company). In some cases, such forward-looking statements can
be identified by terms such as believe, expect, may, will, intend,
project, plan, estimate or similar words. Forward-looking statements are
subject to a number of risks and uncertainties that could cause the
actual results or performance of the Company to differ materially from
those described herein, including but not limited to the impact of the
global economic environment on the Company’s customer base (particularly
financial services firms) potentially impacting our business and
financial condition; competition; changes in technology and market
requirements; decline in demand for the Company's products; inability to
timely develop and introduce new technologies, products and
applications; difficulties or delays in absorbing and integrating
acquired operations, products, technologies and personnel; loss of
market share; an inability to maintain certain marketing and
distribution arrangements; and the effect of newly enacted or modified
laws, regulation or standards on the Company and our products. For a
more detailed description of the risk factors and uncertainties
affecting the company, refer to the Company's reports filed from time to
time with the Securities and Exchange Commission, including the
Company’s Annual Report on Form 20-F. The forward-looking statements
contained in this press release are made as of the date of this press
release, and the Company undertakes no obligation to update or revise
them, except as required by law.
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