Last week NICE Actimize announced plans for the acquisition of Guardian Analytics for an undisclosed amount with a deal expected to be finalized by Q4. NICE Actimize is looking to expand into financial institutions, a space where Guardian Analytics is well known due to their AI-based fraud detection and behavioral analytics software. Per NICE Analytics CEO Craig Costigan, “Today, NICE Actimize is taking a significant step forward in advancing the future of managing financial crime risk”.
Why this transaction?
The York IE team made this acquisition our Transaction of the Week (TOW) because this deal will create a one stop shop for financial institutions looking to protect against fraud and AML (Anti-Money Laundering). Recently, there has been a transition in the banking industry to cloud based solutions for fraud detection; this transition opens up new opportunities for FinTech and cybersecurity companies to meet the internal needs of banks and other financial institutions. Meeting the demand of the market is half the battle, offering competitive pricing and easy integration is where companies like NICE Actimize and Guardian Analytics will distinguish themselves. NICE Actimize’s acquisition of Guardian Analytics will further enable their offerings across the entire financial services industry, including large and small cap banks.
The X-Sight Marketplace
Another key point we haven’t touched on yet is NICE Actimize’s X-Sight Marketplace. The X-Sight Marketplace is intended to be a platform for financial institutions to quickly browse solution categories to find scalable options that solve their business problems. NICE Actimize has made it clear that they intend to be a leader in the financial services industry and the development of their marketplace as well as their recent acquisitions are testament to that.