NICE Actimize develops robotic tool to lower compliance costs

NICE robotic process automation could reduce costs for firms by up to 50%.

NICE Actimize has launched a robotic process automation (RPA) tool in a bid to free up market surveillance investigators from low value, high volume manual tasks.

The RPA will be integrated with NICE’s risk case manager service and it automates investigation tasks such as acquiring data, copying and pasting client information and preparing cases.

The technology allows both attended robotic automation, working with analysts to support daily tasks and unattended robotic process automation, where a digital workforce is used to complete tasks.

Joe Friscia, president at NICE Actimize, explained the data challenge remains an issue for firms and investigations are not getting simpler.

"RPA is the key to better resource utilisation, increased accuracy and productivity, and improved return on investment.

"As we continue to invest in automation and artificial intelligence, we will further integrate our analytics and machine learning competencies into our solutions to ensure greater efficiency and cost savings for our clients," he said.

The use of RPA has been estimated to reduce costs by up to 50%. NICE has already deployed more than 500,000 robots, which are currently used by around 400 clients.