NICE Actimize, a NICE business and a leader in Autonomous Financial Crime Management, announced that IDC, a global provider of market intelligence, has named NICE Actimize a Leader in the inaugural “IDC MarketScape: Worldwide Enterprise Fraud Management in Banking 2020 Vendor Assessment.” (Doc #US45617020 July 2020).
Steven D’Alfonso, Research Director, IDC Financial Insights, said, “Banks should consider fraud as a strategic priority within the overall digital transformation strategy of the organization. Forward-looking banks view fraud management as an important component of managing the customer experience, leveraging fraud analytics to enhance product and service offerings. The growth of digital and mobile banking as well as expanding ecommerce and digital payments necessitates that banks can identify potential fraud in real time. In addition, they must be agile enough to quickly adapt to changing fraud threats and trends, identify suspicious activity across channels, and detect organized ring activity. C************** to NICE Actimize on its strong performance in this report.”
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The report’s profile noted that “NICE Actimize specializes in delivering comprehensive enterprise fraud applications for the banking industry. It provides a full suite of products in its Integrated Fraud Management (IFM) platform. IFM-X is the company’s next-generation IFM platform designed to leverage automation and machine learning to streamline its bank customers’ enterprise fraud management operations.”
Summarizing NICE Actimize’s strengths in Enterprise Fraud, the IDC MarketScape Enterprise Fraud Management report cited several key areas, noting, “The NICE Actimize platform is purpose built for traditional financial services organizations and is the primary market that the company serves; however, its agility means it can also provide benefit to nonbank financial institutions. The platform is proven to work at extreme scale with high performance and reliability. AI-enabled alert and case management can provide efficiency gains across fraud operations teams.”
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In addition, the report also stated that “NICE Actimize offers a managed analytics service leveraging data gathered through its regionally based fraud intelligence service, ActimizeWatch. The benefit of this to buyers is that new fraud detection models and features can be delivered to bank fraud teams based on data gathered across the industry.”
Craig Costigan CEO, NICE Actimize, stated, “The IDC MarketScape report reflects the significant investments that NICE Actimize has made in its Enterprise Fraud offerings, that leverage advanced analytics, automation and machine learning capabilities designed to quickly adapt to the changing fraud patterns inherent in our market today. The IDC MarketScape Enterprise Fraud report provides an independent assessment of the market and NICE Actimize is proud to be recognized as a Leader in this report.”
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