NICE Actimize Positioned As Overall Leader in the 2021 Quadrant Knowledge Solutions Enterprise Fraud Management Report

Rhea-AI Summary

NICE Actimize has been recognized as the overall Leader in the SPARK Matrix™ report for Enterprise Fraud Management (EFM), 2021 by Quadrant Knowledge Solutions. This marks the third consecutive year that NICE Actimize received the highest ratings in technology excellence and customer impact. The IFM-X platform features advanced AI and ML-driven analytics, enhancing fraud management. Key strengths include identity risk scoring and comprehensive fraud prevention capabilities across various channels and payment types.

Positive

• NICE Actimize ranked highest in technology excellence and customer impact for the third consecutive year.
• Introduction of the AI-powered IFM-X New Account Fraud solution enhances identity verification and fraud prevention.
• The IFM-X platform supports deployment options: on-premises, cloud, or hybrid, providing flexibility for clients.
• Advanced features of the IFM-X platform streamline data integration and optimize fraud operations efficiency.

Negative

• None.

For the third consecutive year, NICE Actimize emerges as the highest-scoring vendor across Technology Excellence and Customer Impact metrics in the SPARK Matrix™ ranking

HOBOKEN, N.J.--(BUSINESS WIRE)-- NICE Actimize, a NICE (Nasdaq: NICE) business, has been ranked by global advisory and consulting firm Quadrant Knowledge Solutions as the overall Leader in its recently released report titled “SPARK Matrix™: Enterprise Fraud Management (EFM), 2021.” For the third consecutive year, the Quadrant Knowledge Solutions research report, which provides competitive analysis and a ranking of 15 enterprise fraud management vendors in the form of its proprietary SPARK Matrix, gave NICE Actimize the highest ratings across the performance parameters of technology excellence and customer impact. To download a complimentary copy of the Quadrant Knowledge “SPARK Matrix™: Enterprise Fraud Management (EFM), 2021,” please click here.

The Quadrant Knowledge EFM report cited numerous strengths, noting, “The NICE Actimize IFM-X and X-Sight platform, with its comprehensive EFM capabilities, robust AI and ML-driven advanced analytics, industry-leading alerting and case management, and infusion with strong domain experience, provides an end-to-end fraud management solution across all channels and payment types. The platform offers significant enhancements from its previous version in terms of streamlined data integration, advanced analytics, and the optimization of fraud operations efficiency. The solutions support the end-to-end fraud management process, from data ingestion and real-time fraud risk scoring through decisioning and alert resolution.”

IFM-X New Account Fraud Solution
In its analysis, Quadrant Knowledge also stated, “The IFM-X platform provides a new account fraud solution with a sophisticated AI analytics capability that covers all phases of account opening. It also offers a precise identity risk score, which orchestrates and collaborates identity data and monitors early account activity to identify fraud and mitigate the losses. The IFM-X platform can be deployed on-premises, in the cloud, or via a hybrid model. NICE Actimize delivers this solution across mid-size and large size financial services organizations.”

The report added, “The AI-powered IFM-X New Account Fraud solution reduces friction during account applications through accurate identity verification, driving higher passive verification rates while preventing fraudsters from using stolen and synthetic identities to open new fraudulent accounts. IFM-X New Account Fraud delivers powerful identity verification data while orchestrating and connecting FSO’s current data and tools using advanced analytics to create an identity risk score.”

“As financial institutions face new and emerging fraud risks, we continue to make significant investments to further enhance our fraud management platform,” said Craig Costigan, CEO, NICE Actimize. “The advanced analytics and powerful artificial intelligence within our IFM-X enterprise fraud management platform protects the customer lifecycle across all channels and payment types.”

“A key differentiating factor of NICE Actimize is its broad EFM solutions coverage,” explained Divya Baranawal, Principal Analyst & Research Director, Quadrant Knowledge Solutions and author of the report. “This coverage comprises account application, login, and account servicing. Other differentiating factors of the solution include support for all payment types, including digital and non-digital, real-time and batch ACH, checks, cards, and P2P across all channels, including online, mobile, offline, call centers, ATMs, and open banking. The highly scalable solution detects anomalies in real-time and has a highly configurable risk case manager with visual storytelling.”

Quadrant Knowledge Solutions’ SPARK Matrix provides a snapshot of the market positioning of the key market participants. SPARK Matrix provides a visual representation of market participants and provides strategic insights on how each supplier ranks related to their competitors, concerning various performance parameters based on the category of technology excellence and customer impact.

To download a complimentary copy of the Quadrant Knowledge “SPARK Matrix™: Enterprise Fraud Management (EFM), 2021”, please click here.

For more on NICE Actimize's IFM-X Platform, please click here.

About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as 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/20211013005482/en/

Corporate Media:

Cindy Morgan-Olson, +1 646 408 5896, ET

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

FAQ

What is the significance of NICE Actimize's ranking in the SPARK Matrix report for 2021?

NICE Actimize has been recognized as the overall Leader in the SPARK Matrix report for Enterprise Fraud Management, highlighting its top ratings in technology excellence and customer impact.

What are the key features of the IFM-X platform from NICE Actimize?

The IFM-X platform includes AI-driven analytics, identity risk scoring, and comprehensive fraud management capabilities across various channels and payment types.

How long has NICE Actimize been ranked as a leader in Enterprise Fraud Management?

NICE Actimize has received the leader ranking in the SPARK Matrix report for three consecutive years.

When was the SPARK Matrix report for Enterprise Fraud Management released?

The SPARK Matrix report for Enterprise Fraud Management was released in 2021.

What technologies are integrated into NICE Actimize's fraud management platform?

NICE Actimize's fraud management platform utilizes advanced AI and ML-driven analytics for effective fraud detection and prevention.