NICE Actimize Insights Network combats fraudulent transfers
NICE Actimize launched Actimize Insights Network, an intelligence network designed to give financial institutions real-time visibility into counterparty risk.
Leveraging insights from its Fraud and Financial Crime network, the Actimize Insights Network delivers the scale and precision needed to prevent fraud before money moves while supporting governance.
Financial institutions continue to face growth in authorized push payment (APP) scams, business email compromise (BEC), and other schemes in which legitimate customers are manipulated into sending money to fraudulent recipients. Traditional fraud controls often fail to detect these scams because transactions appear normal and institutions lack insight into counterparty risk beyond their own walls.
“Financial crime is borderless, fast-moving, and increasingly sophisticated. No single institution can fight it alone,” said Craig Costigan, CEO, NICE Actimize. “The Actimize Insights Network transforms isolated efforts into a unified force for smarter, faster, and more effective financial crime prevention that strengthens the entire ecosystem.”
“Collaboration isn’t just a best practice anymore, it is becoming a competitive advantage. Banks cannot fight sophisticated fraud in isolation. NICE Actimize has the client breadth and maturity needed to make network intelligence work at the level required to actually move the needle,” explains Trace Fooshee, Strategic Advisor, Datos Insights, a leading industry analyst firm.
What sets the Actimize Insights Network apart
The Actimize Insights Network provides signals which surface emerging risks and anomalous patterns that would be invisible to any single organization. Institutions can use these risk signals to intervene on truly suspicious transactions while confidently fast-tracking legitimate payments. These insights also enable more effective and efficient AML investigations.
The Insights Network also delivers:
- Cross-channel intelligence: Signals are integrated across payment types, channels, and customer journeys, enabling a unified assessment of risk that addresses vulnerabilities.
- Cross-domain value: Risk signals enhance fraud interdiction and AML investigation, strengthening defenses across fraud and financial crime operations.
- Instant payments: Designed for use with instant payments with millisecond response time.
- Counterparty risk intelligence: Enables FIs to identify scam-detection blind spots and adds payee risk intelligence from the Insights Network, identifying high-risk recipients even when the customer’s behavior appears normal.
- Targeted intervention: Excessive friction erodes customer trust, so the Insights Network balances customer friction with security. The Insights Network enables targeted intervention only where risks are real, allowing legitimate transactions to proceed seamlessly.