NICE Actimize Introduces AI-Powered X-Sight Entity Risk Solution to Provide a Single Trust Score

Rhea-AI Summary

NICE Actimize has launched the X-Sight Entity Risk SaaS solution, which offers a comprehensive risk score for financial institutions to assess clients better. Utilizing AI, machine learning, and network analytics, this innovative tool enhances anti-money laundering and fraud prevention efforts. By providing a transparent view of entities, it enables proactive risk management and improves efficiency. CEO Craig Costigan emphasizes its role in accessing vital business intelligence for combating financial crime.

Positive

• Launch of X-Sight Entity Risk enhances client risk assessment.
• Utilizes advanced AI and machine learning for improved fraud prevention.
• Provides a single transparency score for better risk management.
• Improves operational efficiency and accelerates data access.

Negative

• None.

The single profile and trust score provides a fully transparent view of entities and enables better risk management and frictionless customer experiences

HOBOKEN, N.J.--(BUSINESS WIRE)-- NICE Actimize, a NICE (NASDAQ: NICE) business, today announced the launch of its advanced, X-Sight Entity Risk SaaS solution, an innovative solution that produces a single risk score that enables a financial institution to gain a greater understanding of their clients across the organization. Powered by artificial intelligence, machine learning, entity resolution, and network analytics, X-Sight Entity Risk enhances the efficacy of advanced anti-money laundering, enterprise fraud prevention, and other financial services applications.

NICE Actimize’s X-Sight Entity Risk solution delivers data intelligence from a variety of data sources to ensure an entity profile is always accurate and analyzes entity networks and behaviors to provide a single entity trust score which informs detection and prevention systems to power their analytic precision. In addition, the continuous learnings from prevention, detection, and investigation outcomes further enrich the profile and score, thus ringing in the era of connected intelligence — a game-changer in the fight against fraud and financial crime.

Offering a powerful blend of AI, machine learning, and automation, the solution reveals hidden risks​ and provides a fully transparent view of entities across the entire organization. This allows firms to shift from reactive to proactive risk management while growing their business.

“Financial services organizations are placing greater emphasis on expanding a risk-based approach to fighting financial crime,” said Craig Costigan, CEO, NICE Actimize. “Serving this need with pioneering technology, the breakthrough, AI-powered X-Sight Entity Risk solution provides an unparalleled ability to access true and transparent business intelligence around customers and entities.”

Connecting the dots across a financial institution, ​X-Sight Entity Risk works with other NICE Actimize solutions and is agnostic with other third-party solutions. Adaptive and agile, X-Sight Entity Risk enhances end-to-end enterprise fraud solutions’ effectiveness while enriching entity-centric AML capabilities. In addition, since the cloud powers it, X-Sight Entity Risk provides the ability to run analytics exceptionally fast, therefore offering faster access to risk scoring data while delivering efficiency gains.

Please visit our website here for further information on NICE Actimize’s X-Sight Entity Risk.

About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk, and compliance solutions for regional and global financial institutions and government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers' and investors' assets by identifying financial crime, preventing fraud, and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence, and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

About NICE
With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. www.nice.com

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005277/en/

Corporate Media Contact:

Cindy Morgan-Olson, +1 646 408 5896, ET, NICE Actimize, cindy.morgan-olson@niceactimize.com

Investors

Marty Cohen, +1 551 256 5354, ET, ir@nice.com

Omri Arens, +972 3 763 0127, CET, ir@nice.com

Source: NICE Actimize

FAQ

What is the X-Sight Entity Risk solution by NICE?

X-Sight Entity Risk is a SaaS solution that provides a unified risk score for financial institutions, aiding in the assessment of clients and enhancing fraud prevention efforts.

How does NICE's X-Sight Entity Risk improve financial crime prevention?

The solution employs AI, machine learning, and network analytics to analyze entity behaviors, thus improving the efficacy of anti-money laundering and fraud detection systems.

What technology powers the X-Sight Entity Risk by NICE?

It is powered by AI, machine learning, and entity resolution technologies, delivering data intelligence from various sources for accurate risk scoring.

What impact does the new solution have on NICE's operations?

The X-Sight Entity Risk solution enables NICE to offer improved risk management and fraud prevention services, aligning with the growing emphasis on a risk-based approach in financial services.