Overview
NICE Actimize is the financial crime division of NICE, the Israeli software company that agreed to buy Actimize for about US$280 million in July 2007, after which Actimize became a wholly owned subsidiary[6]. At the time Actimize sold anti-money laundering, brokerage compliance, customer due diligence and fraud software and stated that six of the top ten global banks used its products[6]. Today the company states that it has more than 1,000 clients, monitors over 5 billion transactions a day and protects over US$6 trillion daily[4].
Its AML line is built around an entity-centric model that puts the customer at the centre of risk assessment. Modules include Suspicious Activity Monitoring (SAM), sanctions screening, KYC and client lifecycle management, X-Sight Entity Risk, suspicious transaction reporting (STAR), CTR automation and a cloud package called AML Essentials; Xceed is a combined fraud-and-AML (FRAML) platform[5]. Case studies on its site cite false-positive reductions of 31% and 33% at two banks[5], figures the vendor reports itself. The breadth of the suite is its main strength; the corresponding weakness is that prices are not published and implementations at large banks are typically long, services-heavy projects.
NICE Actimize features
- Suspicious Activity Monitoring (SAM) scenario engine
- Sanctions screening and KYC/client lifecycle modules
- X-Sight Entity Risk scoring
- STAR suspicious-transaction reporting and CTR automation
- AML Essentials cloud package
- Xceed combined fraud and AML platform
- Community analytics for mule-ring detection
- Integrated Fraud Management (IFM)
NICE Actimize pricing
Quote-based. No list prices are published for SAM, sanctions screening, AML Essentials or Xceed.
NICE Actimize strengths and limitations
Strengths
- Covers monitoring, screening, KYC, reporting and fraud from one vendor
- Long track record with large banks
- Separate packaged offerings (AML Essentials, Xceed)
- Broad financial crime portfolio
- Dedicated product for smaller banks
- Mature investigation and case management
Limitations
- No published pricing
- Enterprise implementations require significant integration work
- Module names and packaging are complex to compare across offerings
- Complex enterprise deployments
- Less focused on ecommerce merchants
Appears in
NICE Actimize alternatives and competitors
Alternatives to NICE Actimize: companies ranked in the same lists.
SAS Institute
Feedzai
Sardine
Sumsub- Signifyd
Stripe Atlas
SEON
Sift
BioCatch- LexisNexis ThreatMetrix
- Featurespace (Visa)
Alessa
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