News and resources on cyber and physical threats to banks and fintechs worldwide.

Nice Actimize updates fraud management platform

Source: Nice Actimize

Nice Actimize, a Nice business (Nasdaq: NICE), today announced the latest version of its Integrated Fraud Management (IFM-X) platform that delivers one of the industry’s most advanced detection capabilities powered by artificial intelligence and machine learning.

Providing a real-time response in detection and decisioning across some of the most extensive fraud coverage available on the market, NICE Actimize’s IFM-X introduces new capabilities that support financial services firms’ digital acceleration strategies with fraud management solutions for digital, real-time and open banking channels. By utilizing NICE Actimize’s advanced IFM-X platform, financial institutions will achieve best-in-class fraud detection, prevention and end-to-end operational improvements. IFM-X offers enhanced, accelerated data acquisition capabilities which enable financial institutions to leverage the vast amount of identity, device and other critical data elements required for advanced enterprise fraud management.

This next-generation fraud management (EFM) platform enables holistic, cross-channel fraud management that is flexible and scalable. IFM-X is driven by advanced “Always on AI” and built upon deep industry expertise to provide clients with the ability to address new and emerging fraud trends with constantly adapting models that stop new fraud threats in their tracks. The advanced capabilities of IFM-X are able to power the entire suite of NICE Actimize Enterprise Fraud solutions, covering multiple payments products and servicing channels to allow organizations to stop fraud while delivering exceptional customer experiences. “Financial services organizations require advanced data capabilities and automation to support their journey of digitalization to stay competitive and provide optimal customer experiences,” said Craig Costigan, CEO, NICE Actimize. “New market factors are influencing financial institutions’ strategies, including their reliance on specialized fraud solutions which enable scalable fraud coverage across an increasingly complex environment. The AI-driven IFM-X platform is designed to address these evolving needs.”

The updated NICE Actimize IFM-X platform includes the following enhanced features and benefits: • Open, always-on and agile analytics - powered by the X-Sight AI cloud, IFM-X provides bestin-class data intelligence, analytics and insights on a single cloud-native platform. Adaptable analytics offer more accurate real-time fraud detection, continuous feature engineering using Federated Learning techniques that leverage NICE Actimize’s proprietary payment fraud consortium and integrated modeling tools for self-development and support for Bring Your Own (BYO) Analytics. Quick production deployment of containerized models enables the agility FI’s need to adapt to the changing fraud landscape. • Easy data integration – Marking its continued investment in advanced data capabilities, IFM-X consumes from scalable, real-time data streams, interdicts and informs downstream systems with fraud intelligence in real-time. • Unprecedented performance and scalability – IFM-X enables organizations to consolidate cross-channel fraud management while maintaining the rapid detection required for real-time environments.

• Entity-driven fraud investigation and resolution – Entity-centric triage and investigations provide a single, comprehensive view of customer intelligence for better, faster decisions which reduces resolution time and cost for fraud operation teams.

Comments: (0)