Nice Actimize, a Nice business (Nasdaq: NICE), today announced the availability of IFM 11 (Integrated Fraud Management), a new release of its market leading, AI-driven fraud management and detection platform.
The new release leverages recent advancements in artificial intelligence together with NICE Actimize’s unique collective intelligence capabilities to introduce unprecedented fraud detection accuracy, agility and efficiency to protect financial services firms and their customers from the next generation of AI-driven fraud and scams.
This enhanced version is the first solution to deliver AI pervasively across all fraud prevention processes from detection and strategy to investigations and operations as well as intelligent data orchestration.
With this new platform, organizations will also benefit by preventing more scams and stopping money mules with their existing data by building deeper and richer entity risk profiles and augmenting network analytics and Generative AI capabilities in fraud detection, fraud strategy, alert triage, investigations and claims management.
NICE Actimize’s collective intelligence further fortifies firms with day one protection using AI models trained on industry fraud data. The release also allows financial institutions to stay ahead of new fraud threats with its’ advanced connected analytics capability, harnessing industry learnings and recent risk signals to prevent these threats.
"Financial institutions are facing a surge in fraud attacks, as criminals continue deploying AI to conduct scams,” said Craig Costigan, CEO, NICE Actimize. "NICE Actimize is currently the only solution provider with a complete end-to-end fraud management platform offering fraud prevention and detection, strategy, and operations all leveraging powerful AI capabilities purpose-built to tackle the evolving, faster-paced digital fraud landscape."
NICE Actimize's innovative new IFM release also includes the following capabilities:
• Intelligent Orchestration Engine to connect and invoke 3rd party and homegrown systems and data sources as part of the real-time fraud prevention and step-up processes via an intuitive self-service orchestration engine reducing integration time and cost.
• Customer Vulnerability Insights to proactively identify customers that are likely to be a target of scams for better scams prevention and investigation.
• Network Analytics to provide detection strategies and analytics features, coupled with network exploration in investigations, which identify hidden relationships to uncover risky entities and fraud rings.
• Generative AI to reduce manual and labor-intensive investigation and claims management tasks transforming operations teams from information gathers to risk practitioners and expediting SAR filings.