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NICE Actimize Helps Target Hidden Corruption

May 31, 2017

No business, generally, likes to think there might be corruption going on under its nose. No, we all like to think that our employees are content with their pay and doing the right thing, every day. That's just not so in today's world, and so we need other means to address potential corruption going on in everyday operations. NICE's NICE Actimize business has recently brought out a new solution to help, and it's as simple as ABC, or anti-bribery and corruption.

NICE's new ABC solution will first be used to target the financial services market, followed closely by extraction industries like mining, oil and gas. Other markets will follow not too far behind. With the NICE Actimize ABC solution, businesses will be able to analyze transactions, and relevant behaviors, throughout the organization and the supply chain in the cloud, operating as almost an analytics system for large-scale transaction operations.

Able to then segment findings by various components of a market, like business, vendor, and customer line, NICE Actimize ABC can also deliver value for those subject to the Foreign Corrupt Practices Act (FCPA) by focusing on travel and expense screening. Since some cultures tend to require certain gifts or entertainment expenditures, NICE Actimize ABC can examine these more closely as well, to see when a traditional gift becomes a smokescreen for a bribe.

NICE Actimize president Joe Friscia commented “Investigation and enforcement against corporate bribery and corruption has become increasingly important to regulators, as well as to corporate directors and boards, around the world. Using artificial intelligence and automation technologies, we are enabling companies to monitor their organization to uncover hidden bribes and proceeds of corruption, while reducing risk and identifying these schemes faster and more efficiently than ever before.”

It's worth catching corruption elements as quickly as possible in a system; leave aside the obvious moral implications of being involved in such an affair, it's a direct slap in the face to the organization and to its customer base. Few customers want to do business with “those guys who bribed everybody”, and even suppliers can have a problem doing business with such people. Some suppliers will find the behavior unscrupulous and wonder how long before further unscrupulous behavior emerges, while other suppliers will wonder why they weren't bribed.

Catching corruption early and rooting it out has positive, bottom-line benefits on several fronts, and that makes NICE's solution especially valuable. While some corruption can't be readily caught, trying to catch it gives a business credibility in the field. Having the NICE Actimize ABC solution working, meanwhile, makes it clear that unethical behavior won't be tolerated, even if it isn't always found. 

Edited by Maurice Nagle
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