Report notes that an effective enterprise fraud operation revolves around a robust case management capability

NICE Actimize, a NICE Systems (NASDAQ:NICE) company and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, has been recognized in the 2014 Aite Group Market Impact report, “Enterprise Fraud Management: Still Evolving After All These Years.” The Aite report profiled only those enterprise fraud management (EFM) providers whose solutions included a robust alert and case management system, along with key fraud prevention modules. Aite Group is an independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry.

NICE Actimize, with more than a decade of experience in providing enterprise fraud solutions to leading global financial institutions, was one of only eight established enterprise fraud management providers included in the report. Several emerging players were also covered in the analysis.

Nice Actimize Recognized In Analyst Firm’s 2014 Enterprise Fraud Management Market Impact Report
Nice Actimize Recognized In Analyst Firm’s 2014 Enterprise Fraud Management Market Impact Report

In addition to an analysis of the EFM landscape, the report provided a vendor comparison of the breadth and depth of the solutions offered by the EFM providers across eleven fraud prevention point solutions, including most types of check fraud, debit and credit card fraud, online fraud, contact center fraud, ACH and wire fraud, ATM fraud, employee fraud and new account fraud. NICE Actimize demonstrated capabilities in nearly all of the solutions listed.


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“In our study of the market, we found that a number of enterprise fraud management providers offered a full view of customers and their activity through robust case management tools that can integrate the outputs of all fraud-prevention systems including their own,” said Shirley Inscoe, research analyst, Aite Group LLC and author of the report. “This ability is necessary to detect fraud effectively and reduce false positives to a manageable level. NICE Actimize provides these capabilities.”

“We agree with Aite’s conclusion that financial institutions should consider a centralized approach to enterprise fraud management,” said Joe Friscia, president of NICE Actimize. “In addition to the benefits of greater operational efficiency, this approach helps the enterprise risk management team identify emerging new threats and manage new products or technologies that are implemented. An integral part of this approach to combatting fraud attacks is a centralized risk case management and alerts system. As fraudsters strengthen their resources, NICE Actimize is continually investing in research and development to find new ways to stay ahead of this evolving threat landscape.”

The Actimize Integrated Fraud Management suite enables institutions to protect commercial and retail customers from fraud across multiple payment channels, including mobile, contact center and online, enabling effective cross-channel, real-time fraud detection and prevention capabilities. In addition, it can ingest information from third party or in-house fraud systems providing a centralized view of the organizations’ fraud ecosystem to reduce fraud losses, improve efficiency and enhance exceptional customer service.

In the report’s review of emerging players in the field of enterprise fraud management, a strong case management capability was one of the key recommendations most mentioned as an area for new companies to develop.

The Aite Group Enterprise Fraud Management Report is based on interviews and demos with EFM providers, financial institution executives, and Aite Group’s in-house knowledge.