​​​​​​​Advanced Fraud Analytics

Fraud changes fast – can your analytics keep up?

Effective fraud risk management requires analytical tools, skills and capabilities to enable proper protection against constantly evolving and malicious fraud attacks. As faster payments become more common, it is critical for FIs to have agile analytics and the ability to quickly respond to new threats and resolve them even faster.

NICE Actimize Fraud Augmented Intelligence

NICE Actimize fraud analytics combine the wisdom of experts with the power of machines to provide the ultimate fraud management solutions with explainable, actionable, advanced analytics. We use data-driven techniques combined with our fraud experts’ knowledge to create hyper granular profiles of entities and find anomalies that can indicate suspicious behavior.

With over a decade of experience working on broad, global customer data sets, NICE Actimize data scientists have developed a library of thousands of predictive expert risk features. The detection rate and false positive rate you can reach by running machine learning models on expert features is better by orders of magnitude than running them solely on data-driven features.

NICE Actimize has also developed a unique method to explain the issues that led to an alert from an artificial intelligence model. These are used by fraud analysts and are documented to simplify Model Risk Governance processes.

White Box Fraud Analytics Hub

NICE Actimize offers an open analytics platform that supports three efficient, agile and cost-effective ways to develop and manage fraud analytics models:

  • Managed analytics serviced by ActimizeWatch
  • Self-development environment for “Do It Yourself” fraud analytics
  • Easy import of analytics built on the organization’s preferred modeling system

ActimizeWatch: We watch, so you don’t have to

ActimizeWatch is a cloud-based managed analytics solution that uses machine learning to proactively optimize analytics for members. The service automatically analyzes transactional data both from individual FIs and across peers to glean intelligence on when and why to optimize detection analytics. The ActimizeWatch dashboards deliver fraud intelligence to members and provide alerts on opportunities to improve fraud detection models.

Managed analytics cuts the time, cost and effort associated with analytics optimization. We extend your fraud detection teams with fraud experts and data scientists, leveraging advanced analytics automation in a dynamic, big data environment to help ensure that your fraud detection models are always optimized.

NICE Actimize Collective Intelligence

ActimizeWatch monitors analytics performance and transactional data in the cloud across multiple organizations, using machine learning analytics to discover patterns that affect a wide range of organizations. The solution puts this collective intelligence to work by optimizing each organization’s analytics using the risk variables and patterns found across the market. Ultimately, ActimizeWatch delivers optimized models for each member, incorporating market-wide insight.

“Do It Yourself” or “Bring Your Own” Analytics

The NICE Actimize analytics hub helps organization evaluate risk by their own models – in an open analytics scheme. By opening analytics, FIs can easily have their own models augment the NICE Actimize models. This allows organizations to quickly address fraud patterns specific to their industry or innovative products with full control over their analytics and reporting.

NICE Actimize offers its own analytics development environment and provides features for rapid import of analytics created in an external system into the NICE Actimize production environment.

​ ​


You might also be interested in...

Internal Threats
Comprehensive and effective employee fraud monitoring
Check Fraud
Detection and prevention of check fraud for faster funds availability
Card & Emerging Payments Fraud
Fraud protection for traditional and emerging payment forms
Payment Fraud
Specific, extensible fraud protection for all payment types
Digital Banking Fraud
Optimized fraud defenses for the ever-changing digital banking environment
Authentication Management
The brains behind a better authentication experience