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Technology

NICE Actimize drives AML cloud transformation for Vancity, one of Canada’s largest community credit unions

NICE Actimize’s AML Essentials with ActOne Case Management will allow Vancity to more efficiently fight financial crime, contain costs and comply with Canadian regulations

HOBOKEN, N.J. — (BUSINESS WIRE) — NICE Actimize, a NICE (NASDAQ: NICE) business, has been selected by Vancouver City Savings Credit Union (Vancity), a member-owned financial co-operative headquartered in British Columbia, Canada, to drive and implement its modernized, cloud-based anti-money laundering operation. The financial cooperative’s objective is to significantly improve its investigators’ efficiency, allowing them to fight financial crime more effectively while simultaneously containing costs and complying with Canadian regulations. With $28.2 billion in assets under administration, Vancity is English-speaking Canada’s largest community credit union.

Vancity is significantly updating its operational investments by leveraging several NICE Actimize solution areas. In anti-money laundering, Vancity will expand its financial crime solutions’ footprint by integrating NICE Actimize’s AML Essentials solutions suite that includes Suspicious Activity Monitoring (SAM), CDD/KYC, and Watch List Filtering. Actimize AML Essentials, a cloud-based offering built upon NICE Actimize’s proven, end-to-end anti-money laundering platform, addresses the challenges of regional and community financial institutions. Using the same power and experience as NICE Actimize’s enterprise solutions, AML Essentials offers rapid deployment and reduces overhead to make compliance easier and at a lower total cost of ownership.

In addition, Vancity will enhance its corporate security investigation processes with ActOne Case Management to meet AML regulatory requirements, such as reporting of suspicious transactions to The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) via STR forms. NICE Actimize’s ActOne transforms financial crime investigations by introducing intelligent automation and visual storytelling for speed and accuracy.

“Addressing today’s changing environment can be difficult as regulations, guidelines and threats constantly evolve. Applying modern technologies that incorporate AI, automation and the cloud, NICE Actimize is proud to support Vancity and its journey to protecting the institution, its members, and assets with our advanced suite of financial crime solutions,” said Craig Costigan, CEO, NICE Actimize. “Our strong domain expertise and advanced technology will build a more efficient anti-money laundering platform for the cooperative.”

“Our team at Vancity is excited to update its anti-money laundering platform,” said Nez Aquino, Chief Risk Officer, Vancouver City Savings Credit Union. “We are confident that NICE Actimize’s depth of experience and technology leadership will bring us the efficiencies we need to address both regulatory and operational requirements.”

About Vancouver City Savings Credit Union (Vancity)

Vancouver City Savings Credit Union commonly referred to as Vancity, is a member-owned financial co-operative headquartered in Vancouver, British Columbia, Canada. Vancity is a values-based financial co-operative serving the needs of its more than 543,000 member-owners and their communities in the Coast Salish and Kwakwaka’wakw territories, with 57 branches in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay. With $28.2 billion in assets plus assets under administration, Vancity uses its assets to help improve the financial well-being of its members while at the same time helping to develop healthy communities that are socially, economically and environmentally sustainable. https://www.vancity.com/

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 www.niceactimize.com, @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. www.nice.com.

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: www.nice.com/nice-trademarks.

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,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “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 changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; 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; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). 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 SEC, 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.

Contacts

Corporate Media Contact:

Cindy Morgan-Olson, NICE Actimize, +1 646 408 5896, ET, cindy.morgan-olson@niceactimize.com

Investors:

Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Yisca Erez, +972 9 775 3798, CET, ir@nice.com

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House plans vote to demand that Pence seize power from Trump

The resolution calls on Vice President Mike Pence to wrest the powers of the office from President Trump. If Mr. Pence fails to act, an impeachment vote is expected Wednesday.

 

— NYT: Top Stories

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Fallout continues as Trump finds himself increasingly besieged

Businesses, institutions and cabinet members are cutting ties with President Trump.

 

— NYT: Top Stories

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Trump Administration to recommend vaccinating everyone over 65

The state is ramping up inoculation, transforming Dodger Stadium and Disneyland into mass vaccination centers.

 

— NYT: Top Stories

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Sheldon Adelson, casino mogul and GOP power broker, dies

FILE – In this Sept. 13, 2016 file photo, U.S. billionaire Sheldon Adelson speaks during a news conference for the opening of Parisian Macao in Macau. Adelson, the billionaire mogul and power broker who built a casino empire spanning from Las Vegas to China and became a singular force in domestic and international politics has died after a long illness. (AP Photo/Kin Cheung, File)

 

LAS VEGAS (AP) — Sheldon Adelson, the billionaire mogul and power broker who built a casino empire spanning from Las Vegas to China and became a singular force in domestic and international politics has died after a long illness.

Adelson died at 87 from complications related to treatment for non-Hodgkin’s Lymphoma, Las Vegas Sands announced Tuesday.

He was the son of Jewish immigrants, raised with two siblings in a Boston tenement, who over the second half of his life became one of the world’s richest men. The chairman and CEO of the Las Vegas Sands Corp. brought singing gondoliers to the Las Vegas Strip and foresaw correctly that Asia would be an even bigger market. In 2018, Forbes ranked him No. 15 in the U.S., worth an estimated $35.5 billion.

“If you do things differently, success will follow you like a shadow,” he said during a 2014 talk to the gambling industry in Las Vegas.

Blunt yet secretive, the squatly-built Adelson resembled an old-fashioned political boss and stood apart from most American Jews, who for decades have supported Democrats by wide margins. Adelson was considered the nation’s most influential GOP donor over the final years of his life, at times setting records for individual contributions during a given election cycle.

In 2012, Politico called him “the dominant pioneer of the super PAC era.”

Adelson regularly hosted the party’s top strategists and most ambitious candidates at his modest office, wedged among the casinos on the Strip. Throughout, he helped ensure that uncritical support of Israel became a pillar of the GOP platform, never more visibly demonstrated than when the Trump administration relocated the U.S. embassy from Tel Aviv to Jerusalem in 2018.

The inflammatory move had been adamantly opposed by Palestinians and was long a priority for Adelson, who had even offered to help pay for it, and for the Republican Jewish Coalition, of which he was the primary benefactor. Adelson and his wife, Miriam, were front and center at the ceremony in Jerusalem.

More recently, he reportedly purchased the U.S. ambassador’s official residence near Tel Aviv for some $67 million in a move that was seen as helping prevent the embassy from relocating back to Tel Aviv after Trump leaves office. Just weeks ago, Adelson provided a private plane for Jonathan Pollard, a former U.S. intelligence analyst who spent 30 years in prison for spying for Israel, to move to Israel after his parole ended.

When asked at a gambling conference what he hoped his legacy would be, Adelson said it wasn’t his glitzy casinos or hotels, it was his impact in Israel. He donated $25 million, a record sum for a private citizen, to Israel’s Yad Vashem Holocaust Memorial. He established a think tank in Jerusalem. He was closely aligned with the conservative Likud party and funded a widely-read free daily newspaper called “Israel Hayom,” or “Israel Today,” so supportive of Prime Minister Benjamin Netanyahu that some Israelis nicknamed it “Bibi-ton.”

In the U.S., Adelson helped underwrite congressional trips to Israel, helped build a new headquarters for the lobbying group the American Israel Public Affairs Committee (AIPAC) and later was a top supporter of the Israeli-American Council, whose conferences have attracted top Republicans (Vice President Mike Pence) and Democrats (House Speaker Nancy Pelosi). He sponsored “Birthright” trips to Israel for young Jewish adults that were criticized by some participants as intolerant of opposing views.

His attachment to Israel was life-long and so deep that he once said he wished his military service had been in an Israeli uniform instead of an American one.

Israeli Prime Minister Benjamin Netanyahu said Tuesday that Adelson “will forever be remembered” for his work strengthening ties between the U.S. and Israel.

Adelson was a late bloomer in business and in politics. He didn’t become a casino owner, or a Republican, until well into middle age. Through the 1990s and after his wealth soared and his engagement in politics intensified. He was a supporter of President George W. Bush and backed Republican Rudolph Giuliani for the 2008 presidential race, before turning to the eventual candidate, Sen. John McCain, who lost to Barack Obama.

“Sheldon battled his way out of a tough Boston neighborhood to build a successful enterprise that loyally employed tens of thousands – and entertained millions,” said Bush in a prepared statement Tuesday. “He was an American patriot and a strong supporter of Israel.”

Adelson’s leverage grew considerably in 2010 after the Supreme Court’s “Citizens United” decision lifted many restrictions on individual campaign contributions. He and his wife spent more than $90 million on the 2012 election, funding presidential candidate Newt Gingrich and later Mitt Romney, who also lost to Obama.

“I’m against very wealthy people attempting to or influencing elections,” he told Forbes magazine in 2012. “But as long as it’s doable I’m going to do it.”

Adelson came around slowly to Trump, who during the campaign had said he would be “neutral” in negotiations between Israel and the Palestinians. Trump even ridiculed his initial liking for Sen. Marco Rubio of Florida, tweeting in 2015, “Sheldon Adelson is looking to give big dollars to Rubio because he feels he can mold him into his perfect little puppet. I agree!” Adelson eventually endorsed Trump, but remained hesitant through much of 2016. He gave more than $20 million in the final weeks of the campaign after reports that he would contribute $100 million, and was more generous with congressional races.

But after Trump’s surprise victory, the new president spoke often with Adelson and embraced his hardline views on the Middle East. He cut funding for Palestinian refugees and withdrew from the Obama administration’s nuclear nonproliferation deal with Iran. He moved the U.S. embassy to Jerusalem even though earlier administrations — Democratic and Republican — avoided doing do because it directly challenged the Palestinian view that the ancient city should be part of any peace agreement.

Adelson, in turn, aided Trump financially, including $5 million for his inauguration, and supported him through his media holdings. Late in 2015, Adelson secretly purchased the Las Vegas Review-Journal — the paper’s own reporters revealed he was the new owner — and soon raised concerns he was imposing his own views. Some longtime staffers left in protest.

In what was widely seen as a mark of the Adelsons’ influence with Trump, Miriam Adelson was given a Presidential Medal of Freedom in 2018.

Adelson, who contributed more than $100 million to the 2018 off-year elections, held extraordinary power among Republicans even though he didn’t always agree with them.

“Our nation lost a remarkable American with the passing of my friend Sheldon Adelson,” said Senate Republican leader Mitch McConnell.

In a 2012 interview with The Wall Street Journal, he called himself “basically a social liberal,” pro-choice on abortion and supportive of immigrant rights. He cited taxes and differences over Israel as major reasons for leaving the Democratic party.

“His life made him a fearless advocate for freedom and entrepreneurship and a source of counsel and support to a generation of conservatives, including me,” said House Minority Leader Kevin McCarthy, R-Calif.

In Nevada, his influence was such that even the state’s most prominent Democrat, Sen. Harry Reid, hesitated to take him on. In a 2014 interview with MSNBC, the then-Senate majority leader differentiated between Adelson and fellow GOP billionaire donors Charles and David Koch. Reid had sharply criticized the Koch brothers as callous and greedy, while saying that he respected Adelson because he was “not in it to make money,” a widely challenged opinion.

He had previously told MSNBC’s Rachel Maddow that he remained friends with Adelson despite their political differences.

“Sheldon Adelson and I still meet and have conversations. He has a problem, I try to help him,” Reid said.

Adelson was married twice. He and his first wife, Sandra, were divorced in 1988. Three years later, he married Miriam Farbstein-Ochshorn, an Israeli-born doctor he met on a blind date and whom many believe helped deepen his involvement with Israel. Their honeymoon trip to Venice inspired Adelson to raze the historic Sands hotel-casino, once a favorite hangout for Frank Sinatra among others, and replace them with a pair of massive complexes: The Venetian and The Palazzo, one of the city’s tallest buildings.

Sheldon Adelson adopted his first wife’s three children and had two children with his second wife. Among numerous philanthropic projects, he and Miriam Adelson were especially committed to the research and treatment of substance abuse, a personal cause for Sheldon Adelson. His son Mitchell, from his first marriage, died of an overdose in 2005. (Sheldon Adelson would spend millions opposing state efforts to legalize marijuana).

Sheldon Garry Adelson was born in 1933, in the Dorchester neighborhood of Boston. His father was a taxi driver, his mother the manager of a knitting store. A natural entrepreneur, he was selling newspapers by age 12 and running a vending machine business at 16. After dropping out of City College of New York and serving in the Army, he attempted to start dozens of businesses, from toiletries to de-icing windshields.

Adelson, who said he disdained email, began to amass his fortune with a technology trade show, starting computer convention COMDEX in 1979 with partners before selling his stake in 1995 for more than $800 million.

When he bought the Sands Hotel in 1989, he was thinking convention space, not just gambling, would make money. It did. He built a convention hall to keep his hotel rooms full on weekdays and others soon followed the business model. Meanwhile, his effort to replicate the Strip in Macao, the only place in China where casino gambling is legal.

When faced with water and marsh land, Adelson directed his company to build land where there wasn’t any, piling sand up to create the Cotai Peninsula. Soon his Macao revenue outstripped that of his Las Vegas holdings. He later expanded his business to Singapore, where his Marina Bay Sands hotel and its infinity pool were featured in the hit film “Crazy Rich Asians,” and had been pressing to open a casino in Japan.

His Macao business also spawned a long-running wrongful termination lawsuit brought by a former chief of Sands China Ltd. who accused Adelson and the company of firing him for exposing a host of misdeeds. Adelson often clashed with attorneys while appearing on a Clark County courtroom’s witness stand.

The Sands China lawsuit was among dozens involving Adelson, whose cases included his suing a Wall Street Journal reporter for calling him “foul-mouthed” (the parties settled, the words remained) to being sued by his sons from his first marriage for cheating them out of money (he won).

A long-running feud with fellow casino tycoon Steve Wynn turned to friendship when Wynn joined Adelson’s effort to end online gambling. Critics said Adelson was trying to stifle competition. Adelson countered that there was no way to ensure children and teenagers wouldn’t gamble and said he was “not in favor of it exploiting the world’s most vulnerable people.”

Trump’s election would again prove useful to Adelson. During the Obama administration, the Justice Department said online gambling that does not involve sporting events would not violate the Wire Act, a 1961 federal statute. In a legal opinion that became public early in 2019, the department reversed itself and decided the statute applies to any form of gambling.

____

Josef Federman contributed to this story from Jerusalem, and Tia Goldberg from Tel Aviv, Israel. Zeke Miller and Alan Fram contributed from Washington.

 

— Associated Press

Categories
Healthcare

Bayer announces U.S. FDA accepts new drug applications and grants priority review for investigational drug Finerenone for patients with chronic kidney disease and type 2 diabetes

Submission to FDA was based on positive data from Phase III FIDELIO-DKD study recently published in the New England Journal of Medicine

WHIPPANY, N.J.–(BUSINESS WIRE)–Bayer announced today that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) and granted Priority Review for finerenone, an investigational drug for patients with chronic kidney disease (CKD) and type 2 diabetes (T2D). This regulatory submission was based on Phase III FIDELIO-DKD trial data, which were recently presented at the American Society of Nephrology’s (ASN) Kidney Week Reimagined 2020, and simultaneously published in the October 23, 2020 edition of the New England Journal of Medicine.

Finerenone is a potential first-in-class investigational, non-steroidal, selective mineralocorticoid receptor antagonist (MRA) that demonstrated positive kidney and cardiovascular outcomes in patients with CKD and T2D in the Phase III FIDELIO-DKD study.1,2,3

There is currently a significant unmet medical need for the nearly 40 percent of people in the U.S. living with type 2 diabetes who will develop chronic kidney disease. This progressive condition can lead to kidney damage and eventual failure, despite currently available treatments,” said Dr. Michael Devoy, Head of Medical Affairs & Pharmacovigilance of Bayer AG’s Pharmaceuticals Division and Chief Medical Officer. “Based on study data, finerenone offers a potential new strategy to delay CKD progression, while reducing the risk of cardiovascular events. We’re encouraged that the FDA has granted the NDA a Priority Review, as it potentially expedites our ability to make finerenone available to patients.”

The FDA grants Priority Review to medicines that may offer significant improvements in the treatment, diagnosis or prevention of a serious condition. Under a Priority Review designation, the agency’s goal is to take action on a New Drug Application within six months of acceptance, compared to 10 months under standard review.

About Finerenone

Finerenone (BAY 94-8862) is an investigational, non-steroidal, selective mineralocorticoid receptor antagonist (MRA) that has been shown to reduce many of the harmful effects of mineralocorticoid receptor (MR) overactivation.5 Mineralocorticoid receptor overactivation is a driver of kidney and cardiovascular damage through inflammatory and fibrotic processes.6,7

The Phase III program with finerenone in CKD and T2D randomized 13,000 patients across a broad range of disease severity including those with early kidney damage and more advanced stages of kidney disease. It is the largest Phase III clinical trial program to date in CKD and T2D and comprises two studies, evaluating the effect of finerenone versus placebo on top of standard of care on both renal and cardiovascular outcomes.1,2

About Bayer’s Commitment in Cardiovascular and Kidney Diseases

Bayer is an innovation leader in the area of cardiovascular diseases, with a long-standing commitment to delivering science for a better life by advancing a portfolio of innovative treatments. The heart and the kidneys are closely linked in health and disease, and Bayer is working in a wide range of therapeutic areas on new treatment approaches for cardiovascular and kidney diseases with high unmet medical needs. The cardiology franchise at Bayer already includes a number of products and several other compounds in various stages of preclinical and clinical development. Together, these products reflect the company’s approach to research, which prioritizes targets and pathways with the potential to impact the way that cardiovascular diseases are treated.

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros. For more information, go to www.bayer.us.

Find more information at www.pharma.bayer.com
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Forward-Looking Statements

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

____________________________

1 Data on file.

2 Bakris, GL., et al. Effect of Finerenone on Chronic Kidney Disease Outcomes in Type 2 Diabetes. N Engl J Med. 2020 Oct 23. DOI: 10.1056/NEJMoa2025845.

3 Agarwal, R, et al. Steroidal and non-steroidal mineralocorticoid receptor antagonists in cardiorenal medicine. Eur Heart J. 2020;00:1-12.

4 Bailey, R, et al.. Chronic kidney disease in US adults with type 2 diabetes: an updated national estimate of prevalence based on Kidney Disease: Improving Global Outcomes (KDIGO) staging. BMC Res Notes. 2014;7:415.

5 Kolkhof, P, et al. Steroidal and novel non-steroidal mineralocorticoid receptor antagonists in heart failure and cardiorenal diseases: comparison at bench and bedside. Handb Exp Pharmacol. 2017;243:271-305.

6 Bauersachs J, et al. Mineralocorticoid receptor activation and mineralocorticoid receptor antagonist treatment in cardiac and renal diseases. Hypertension. 2015 Feb;65(2):257-63.

7 Buonafine, M, et al. Mineralocorticoid Receptor and Cardiovascular Disease. Am J Hypertens. 2018;31(11):1165-1174.

Contacts

Media Contact:
David Patti, +1-973-452-6793

Bayer, U.S. Corporate Communications

david.patti@bayer.com

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House vows to move swiftly on impeachment if Pence refuses to act

The House plans to introduce a resolution today calling on Vice President Mike Pence to invoke the 25th Amendment.

 

— NYT: Top Stories

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Wall Street banks halt political donations after Capitol Riot

A flurry of companies have since reviewed political giving via their corporate political action committees.

 

— NYT: Top Stories

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A stark divide in California’s surge

Monday: The State of California is having two distinct pandemics, north and south.

 

— NYT: Top Stories

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In 5 U.S. States, crushing numbers and hospitals at capacity

Arizona, California, Oklahoma, Rhode Island and South Carolina are now averaging the most daily new cases per person.

 

— NYT: Top Stories