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TMCNet:  Nice Actimize Ranks as 'Best-in-Class' Vendor

[January 28, 2013]

Nice Actimize Ranks as 'Best-in-Class' Vendor

Jan 28, 2013 (Close-Up Media via COMTEX) -- Nice Actimize, a Nice Systems company and a broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, announced that its Actimize Integrated Fraud Management Suite was selected a "Best-in-Class" vendor across three categories in the CEB TowerGroup "2012 Enterprise Fraud Management Technology Analysis" research report.

According to a release, Nice Actimize received its rankings based on the five-point rating system for each of the 22 fraud-related attributes identified in the report's proprietary Enterprise Fraud Systems anatomy.

"Leading banks are transforming fraud management into an area of competitive advantage," said CEB TowerGroup research director Jason Malo."With the efficiency gains made through a deeper analytic focus, coupled with service improvements to streamline team efforts and communication, financial institutions of all sizes will have the ability to improve their fraud management." Nice said the three categories in which Actimize received a "Best in Class" designation were: fraud detection, workflow management and business process changes. In the fraud detection category, Nice Actimize was cited due to its strengths in behavioral analysis, cross-channel support, business rules, external data integration and risk scoring. In the workflow management category, alerts and case management, user interface, routing and prioritization, and permissions and security attributes were cited as key strengths.

In its vendor summary of Nice Actimize, the CEB TowerGroup report said, "Nice Actimize is a clear leader in the enterprise fraud management space, receiving a best-in-class in three out of four categories of our assessment. The Actimize solution garnered high marks for both usability and flexibility. From a single sign-on screen, fraud managers can view account activity and risk across the enterprise. They can craft and deploy strategies with a user-friendly rules editor and model-building wizard. Beyond the current technology attributes reviewed for this report, Actimize was the vendor who articulated one of the strongest visions for the future of fraud technology, and was able to clearly detail the resources that will be needed to support this roadmap. Nowhere was Actimize's dedication to this vision more evident than in the significant investments which the company made recently to update the Integrated Fraud Management Suite's core data and analytics systems. This undertaking to revamp a mature and central facet of their service demonstrates the company's commitment to data-driven enterprise fraud management." "We are proud that CEB TowerGroup's research team has positioned NICE Actimize as a "best-in-class" vendor," said Amir Orad, president and chief executive officer of NICE Actimize. "We see this as testimony that our innovative approach to enterprise fraud, along with our breadth and depth of functionality and vision for the future, effectively assists our clients in addressing evolving challenges in fraud detection, workflow management and operational efficiency." The Actimize Integrated Fraud Management suite enables institutions to protect customers from fraud across multiple payment channels including credit and debit card, online banking and malware attacks, electronic payments such as wires and ACH, check fraud, and mobile banking. Institutions can realize cross-channel, real-time fraud detection and prevention capability to affect fraud losses, efficiency, and provide exceptional customer service.

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