NICE Actimize Announces IFM-X Integrated Fraud Management Platform Powered by AI

NICE Actimize Announces IFM-X Integrated Fraud Management Platform Powered by AI
29.01.2019 07:56 am

NICE Actimize Announces IFM-X Integrated Fraud Management Platform Powered by AI

Security , Fraud Detection , AML and KYC

 NICE Actimize, a NICE business (Nasdaq: NICE) and leader in Autonomous Financial Crime Management, today announced IFM-X, its next-generation Integrated Fraud Management (IFM) platform that leverages automation and machine learning to optimize effectiveness while reducing the total cost of implementing and operating an enterprise fraud risk management system. By utilizing NICE Actimize’s IFM-X, financial institutions will be able to integrate limitless data into their fraud detection systems and utilize agile advanced analytics, while optimizing fraud operations efficiency.

Leveraging NICE Actimize’s deep experience in fraud management, the IFM-X platform marks another advancement in its Autonomous Financial Crime Management strategy. The modernized platform allows financial services organizations to more easily integrate data, and better cope with data growth in a more cost-effective manner.

NICE Actimize’s IFM-X provides machine-led detection, decisioning and self-learning capabilities that can adapt and scale to meet the needs of a financial services organization’s operations. Through an open, services-based architecture, NICE Actimize IFM-X leverages the recently introduced NICE Actimize X-Sight Platform-as-a-Service for developing and optimizing fraud analytics fueled by market-wide collective intelligence.

“Rapidly changing demands in the fraud marketplace led NICE Actimize to develop the new IFM-X platform in response to our customers’ challenging requirements,” said Craig Costigan, CEO, NICE Actimize. “This new platform unleashes the power of our market-leading fraud expertise coupled with expert-led machine learning technology to enable superior protection against constantly evolving and malicious fraud attacks.”

Leading capabilities for the NICE Actimize IFM-X platform include:

·         Easy Data Integration – Using automated tools and a real-time big data repository, financial institutions can integrate new data sources, both structured and unstructured, to their fraud hub in minutes.

·         Augmented Intelligence – Combining machine learning with human expertise equates to better detection. Expert features, built over many years in the field by data scientists as part of customer implementations, are fused with machine learning features which are discovered by running algorithms on deep sets of trained and untrained data to provide laser accuracy in detection.

·         Open AI – The new X-Sight Studio, included with IFM-X, provides data driven, machine-led analytics development with expert fraud features. Machine Learning analytics may be developed, tested and validated in the cloud and seamlessly deployed in IFM-X’s AI engine for immediate use in detection. This accelerates the time to value for analytics.

·         Entity InsightsTM – The IFM-X platform moves financial institutions beyond transaction-based analysis to a visual holistic view of entity risk for faster, simpler and more precise resolution providing massive efficiency gains for operations teams.

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