Financial institutions (FIs) know that having robust risk mitigation is key to safeguarding both customers and your institution. NICE Actimize's comprehensive approach to Fraud Investigations acknowledges the evolving landscape, where traditional fraud, scams, and money mules pose constant challenges. Operations and Investigation teams need scalability to meet surges in claims and be prepared for future regulations.
Fraud Team Challenges Include
Siloed processes between Prevention and Operations
Existing Processes
are Broken
Poor Customer Experience and Complaints
Layers in Scams and Scam Losses
Regulators are Playing Hard Ball
Authentication Disparate, Manual and Error-Prone Procedures
Reduce Operational Cost and Enhance Investigative Efficacy
Oversight and Reporting
Prevention & Detection
Intake
Customer Verbatim & Claim Categorization
Triage / Assignment
Automated Claim Assignment & Escalation Workflows
Investigation
Full Investigation Workbench & Evidence Archive
Adherence
Regulatory Reporting To Ensure Timely SLAs
Reg. Filing
Configuration and Development
Solving Operational Challenges With IFM: Purpose Built
- Dynamic Workflow: Automate and enrich processes for enhanced efficiency, proper claim assignment, and escalation handling
- Automated SAR Filing: Simplify SAR (Suspicious Activity Report) filing with automated fields, narrative generation, and e-filing capabilities
- Reimbursement & Recovery Management: Streamline the management of claims and facilitate efficient reimbursement and recovery processes
- Closed Loop: Enable seamless feedback integration into prevention module to stop future fraud with continuous learning
- Holistic View: Ensure transparency and full audibility across operations for comprehensive oversight and reporting
- End-to-End Fraud Prevention: Implement comprehensive measures to prevent fraud at every stage of the customer lifecycle
