Sophisticated fraud schemes utilizing stolen and synthetic identities are accelerating, requiring more powerful fraud-fighting solutions than traditional identity verification might have previously offered. Addressing these market needs, NICE Actimize announced the debut of its New Account Fraud onboarding and verification solution.
Delivering advanced detection capabilities powered by artificial intelligence, NICE Actimize’s New Account Fraud solution takes a comprehensive and fully connected approach that directly addresses fraud loss manifested by stolen and synthetic identities as well as other fraud schemes associated with the act of opening an account.
With NICE Actimize’s New Account Fraud solution, organizations can take a multi-layered end-to-end fraud management approach. From account origination to both early and ongoing account monitoring, NICE Actimize’s New Account Fraud solution detects and prevents fraud across the customer’s lifecycle.
The solution is designed to work exclusively and seamlessly with IFM-X, NICE Actimize’s industry-leading enterprise fraud platform that delivers advanced detection capabilities powered by artificial intelligence and machine learning.
Providing a real-time response in detection and decisioning across some of the most extensive fraud coverage available on the market, NICE Actimize’s IFM-X platform supports fraud management solutions for digital, real-time and open banking channels.
NICE Actimize’s solution orchestrates and connects an organization’s current identity verification data and tools using advanced analytics to bring data and identity risk scores into a purpose-built new account fraud monitoring system.
The solution is able to utilize the identity proofing data and risk score to enable optimized account opening decisioning, as well as during post account opening early monitoring for dynamic risk-based account access.
By utilizing application data as well as monitoring all payment channels, the account fraud so ..