​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Payment Fraud Detection

Growing fraud​​ threats across all payment types

Payment fraud or account takeover is a pervasive problem for banks today and one that is not only a huge threat to your organization and your customers, but is also constantly growing and evolving. Even worse, payment fraud detection is a problem across multiple banking environments, impacting areas such as emerging payments and commercial, retail, and private banking.

Comprehensive payments coverage​

We know that banking environments vary and the ability for you to solve fraud problems is specific to the payment types your institution offers. Our Payment Fraud offerings have been developed to:

Protect any payment type including: SWIFT/Wire, Faster Payments, BACS SEPA payments, ATM/debit transactions, ACH/bulk payments, bill payments, P2P/email payments, checks​ and various forms of domestic transfer available in various markets

  • Defend against sophisticated, targeted and often socially-engineered attacks
  • Effectively identify and protect legitimate customer transactions
  • Mitigate reputational damage to your institution
  • Effective payment​​​ fraud protection

Actimize provides comprehensive monitoring of the entire payment lifecycle from transaction origination at the retail or commercial channel, to the point of exit onto payment rails.

Omni-channel protection for retail banks

The Actimize omni-channel protection for retail banks provides end-to-end protection against account takeover from online, mobile, IVR, and contact center transactions. Industry-leading  out of-the-box analytic models accurately detect anomalies and patterns in real time and Actimize open analytics offer the flexibility to develop in-house models and strategies. A central ‘risk hub’ enables sharing of internal and third-party data from multiple channels for fraud and cyber detection, operations, and investigations. By accurately and efficiently coordinating customer lifetime value, transaction amounts and service history, the solution optimizes fraud prevention by offering greater insight into cross-channel authentication and facilitates interdiction strategies.

Omni-channel protection for commercial/wholesale banks

The Actimize omni-channel protection for commercial/wholesale banks is specifically designed to address the complexities facing commercial banks, applying targeted analytics to identify fraudulent payments among the high volume of legitimate transactions processed by commercial clients each day. The solution protects payments from origination through approval and processing, allowing organizations to interdict in real time to address suspicious activity and ensure an excellent customer experience.

Omni-channel protection for private banks

The Actimize omni-channel protection for private banks is specifically designed to address the complexities facing the high and ultra-high net worth customers of private banks, applying targeted analytics to identify fraudulent payments among the legitimate transactions which are processed by these clients. The solution understands the relationship between clients, their accounts, and their money management teams. It enables segmentation of limits or types of transaction and includes passive voice biometric authentication to automatically authenticate customers without the need for passwords or intrusive security questions.

Payment Gateway Protection

The payments world is undergoing a revolution with new rails and messaging systems emerging across the globe, enabling FIs to speed up existing payment products and launch faster, innovative payment products. As this revolution takes hold, FIs need comprehensive fraud controls to cover any emerging rail that are scalable enough to provide protection for payment products as they are developed. Actimize’s Payment Gateway Protection solution provides real-time fraud monitoring for all payments transactions before they leave the banking environment to travel onto payment rails, as well as monitoring of inbound transactions. The solution applies payment level analytics that seek out anomalies in transaction patterns and flows without need for channel data.

Open Banking Protection

In this changing ecosystem of Open Banking, banks are providing a dedicated gateway, or API, that exposes customers’ data to third party service providers or aggregators, allowing them to build applications that interact with their customers’ data. NICE Actimize’s Open Banking Fraud Solution protects from fraud risk posed by the Open Banking or API channel. The solution provides fraud risk models and advanced analytics designed to detect account takeover and social engineering attacks in an Open Banking environment, as well as dedicated features for fraud operations. The Open Banking Solution also helps FIs comply with PSD2 and UK Open Banking regulations.

Enable legitimate customer transactions to process faster and without disruption, ensuring a customer-centric approach to payment fraud protection.​​​



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