NICE Actimize Expands “Essentials” Cloud Offerings with Fraud Management Options Addressing Mid-Sized Financial Services Organizations

News Wire

NICE Actimize, a NICE business and the largest and broadest provider of financial crime, risk and compliance software for the financial services industry, announces the expansion of its “Essentials” Cloud offerings with the addition of the Actimize Fraud Essentials Cloud solution providing a comprehensive fraud detection operation and investigations platform targeting the specific requirements of mid-sized financial services organizations. Built on the principles of a software-as-a-service model, this solution offers secure cloud-based delivery that ensures rapid deployment and lowered total cost of ownership for growing, mid-sized firms protecting themselves from increased fraud attacks.

Joining the previously launched Actimize AML Essentials solutions for integrated anti-money laundering coverage, Actimize Fraud Essentials serves as both a single and cross-channel solution for online banking and mobile banking channels, and can detect fraud perpetrated against a multitude of retail payments and interbank transactions such as wire transfers.

Managing the “faster payments” environment, while expanding digital and mobile capabilities, mid-sized financial services organizations are experiencing increased incidences of fraud, with budget and operational constraints often limiting their fraud-fighting capabilities. The Actimize Fraud Essentials cloud-based approach provides these institutions a lower cost option which is flexible and easier to implement than the fraud detection solutions typically adopted by their larger counterparts.

“With fraud on the rise and moving at an increasingly rapid pace, mid-sized firms are most vulnerable to massive attacks,” said Joe Friscia, President, NICE Actimize. “Our Essentials cloud offerings fill critical needs gaps, while providing the flexibility to allow for future growth, enhancing the customer experience and ensuring that all client access channels are effectively protected from fraud.”

An important advantage of Actimize Fraud Essential’s cloud-based, software as a service (SaaS) model is that it reduces costly upfront capital expenditures while allowing on-going maintenance and upgrades, thereby reducing dependency on the organization’s IT teams. Offering financial services organizations a faster path to comprehensive fraud protection across Retail Banking divisions, Actimize Fraud Essentials provides the flexibility to manage higher volumes of transactions.

Leveraging more than a decade of providing comprehensive retail banking fraud solutions to the world’s largest financial services organizations, the Actimize Fraud Essentials Cloud solution relies on the proven fraud detection platform and robust administration tools that have powered the processing of hundreds of millions of customer transactions across NICE Actimize’s customer base. Initial delivery of Actimize Fraud Essentials will begin this summer, with additional fraud components debuting by the end of the year.