Hoboken, NJ, October 13, 2021 – NICE Actimize, a NICE (Nasdaq: NICE) business, has been ranked by global advisory and consulting firm Quadrant Knowledge Solutions as the overall Leader in its recently released report titled “SPARK Matrix™: Enterprise Fraud Management (EFM), 2021.” For the third consecutive year, the Quadrant Knowledge Solutions research report, which provides competitive analysis and a ranking of 15 enterprise fraud management vendors in the form of its proprietary SPARK Matrix, gave NICE Actimize the highest ratings across the performance parameters of technology excellence and customer impact. To download a complimentary copy of the Quadrant Knowledge “SPARK Matrix™: Enterprise Fraud Management (EFM), 2021,” please click here.
The Quadrant Knowledge EFM report cited numerous strengths, noting, “The NICE Actimize IFM-X and X-Sight platform, with its comprehensive EFM capabilities, robust AI and ML-driven advanced analytics, industry-leading alerting and case management, and infusion with strong domain experience, provides an end-to-end fraud management solution across all channels and payment types. The platform offers significant enhancements from its previous version in terms of streamlined data integration, advanced analytics, and the optimization of fraud operations efficiency. The solutions support the end-to-end fraud management process, from data ingestion and real-time fraud risk scoring through decisioning and alert resolution.”
IFM-X New Account Fraud Solution
In its analysis, Quadrant Knowledge also stated, “The IFM-X platform provides a new account fraud solution with a sophisticated AI analytics capability that covers all phases of account opening. It also offers a precise identity risk score, which orchestrates and collaborates identity data and monitors early account activity to identify fraud and mitigate the losses. The IFM-X platform can be deployed on-premises, in the cloud, or via a hybrid model. NICE Actimize delivers this solution across mid-size and large size financial services organizations.”
The report added, “The AI-powered IFM-X New Account Fraud solution reduces friction during account applications through accurate identity verification, driving higher passive verification rates while preventing fraudsters from using stolen and synthetic identities to open new fraudulent accounts. IFM-X New Account Fraud delivers powerful identity verification data while orchestrating and connecting FSO’s current data and tools using advanced analytics to create an identity risk score.”
“As financial institutions face new and emerging fraud risks, we continue to make significant investments to further enhance our fraud management platform,” said Craig Costigan, CEO, NICE Actimize. “The advanced analytics and powerful artificial intelligence within our IFM-X enterprise fraud management platform protects the customer lifecycle across all channels and payment types.”
“A key differentiating factor of NICE Actimize is its broad EFM solutions coverage,” explained Divya Baranawal, Principal Analyst & Research Director, Quadrant Knowledge Solutions and author of the report. “This coverage comprises account application, login, and account servicing. Other differentiating factors of the solution include support for all payment types, including digital and non-digital, real-time and batch ACH, checks, cards, and P2P across all channels, including online, mobile, offline, call centers, ATMs, and open banking. The highly scalable solution detects anomalies in real-time and has a highly configurable risk case manager with visual storytelling.”
Quadrant Knowledge Solutions’ SPARK Matrix provides a snapshot of the market positioning of the key market participants. SPARK Matrix provides a visual representation of market participants and provides strategic insights on how each supplier ranks related to their competitors, concerning various performance parameters based on the category of technology excellence and customer impact.
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.
With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction
Source : niceactimize.com
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