Nasdaq-listed NICE Actimize Chosen by Asian Digital Bank TONIK to Develop Anti-Money Laundering Solutions and Create Secure Banking Environments

NICE Actimize, a NICE company (Nasdaq: NICE) business offering autonomous financial crime management solutions, has reportedly been chosen by TONIK, an Asian pure-play regulated digital bank, to develop its Essentials anti-money laundering platforms and also to assist in the creation of secure banking environments for its new clients. 

TONIK was recently given the green light by regulators in the Philippines to establish a compliant digital bank. The company says it aims to “revolutionize” the way the financial system works in Southeast Asia. TONIK is notably one of the first ever all-digital banks in the region offering retail financial products such as deposits, loans, current accounts, payments, and cards through a secure online banking platform.

AML Essentials is a cloud-powered offering that has been developed upon NICE Actimize’s end-to-end AML platform. It aims to address the challenges the companies face during their digital transformation process. NICE’s platform will also streamline processes in the digital banking environment in which TONIK is currently focused. 

The AML Essentials solution covers key services such as transaction monitoring, customer due diligence, and sanctions screening capabilities. It will take advantage of the power and experience of NICE Actimize’s enterprise-grade software solutions, in order to rapidly deploy platforms while reducing the cost, time, and effort required to ensure compliance.

Greg Krasnov, founder and CEO at TONIK, stated:

“We are [looking forward to working] with industry-leader NICE Actimize to support our launch of the first pure-play neobank digital platform in the Philippines.” 

Krasnov added:

“We believe that digital banking is capable of operating on a higher level of financial compliance than traditional banks, and our partnership with NICE Actimize is strongly indicative of the higher standard of trust, reliability and compliance that we intend to foster in the digital banking space across Southeast Asia.”

Craig Costigan, CEO at NICE Actimize, remarked:

“As digital banking becomes more widely accepted, regulators continue to examine compliance rules for this new banking channel. We look forward to providing TONIK with the necessary support to address the changing requirements that it may face throughout the region.” 

Costigan further noted that as companies like TONIK bring innovative banking services to the Philippines and throughout Southeast Asia, NICE Actimize will be preparing to introduce its cloud-powered, AML solutions in order to support its secure online banking platform.

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