NICE Actimize, a NiCE (NASDAQ: NICE) business, saw its shares step back Tuesday, after announcing the launch of the Actimize Insights Network, a groundbreaking intelligence network designed to give financial institutions real-time visibility into counterparty risk. Leveraging insights from its Fraud and Financial Crime network, the Actimize Insights Network delivers the scale and precision needed to prevent fraud before money moves while supporting governance.
Financial institutions continue to face rapid growth in authorized push payment (APP) scams, business email compromise (BEC), and other schemes in which legitimate customers are manipulated into sending money to fraudulent recipients. Traditional fraud controls often fail to detect these scams because transactions appear normal and institutions lack insight into counterparty risk beyond their own walls.
“Financial crime is borderless, fast-moving, and increasingly sophisticated. No single institution can fight it alone,” said CEO Craig Costigan,
“The Actimize Insights Network transforms isolated efforts into a unified force for smarter, faster, and more effective financial crime prevention that strengthens the entire ecosystem.”
The Actimize Insights Network provides signals which surface emerging risks and anomalous patterns that would be invisible to any single organization. Institutions can use these risk signals to intervene on truly suspicious transactions while confidently fast-tracking legitimate payments. These insights also enable more effective and efficient AML investigations.
NICE shares dished off $2.12, or 1.8%, to begin Tuesday at $113.98.
