NICE Actimize updates its risk management capabilities; supports OCC guidelines

Monday 2 March 2020 12:31 CET | News

NICE Actimize has revealed it updated its fraud solutions portfolio including its Fraud Essentials, a cloud-based fraud solution. 


One reason for this decision is to align with the fraud risk management best practices recommended by recent guidelines issued by the Office of the Comptroller of Currency (OCC). As per StreetInsider, the guidelines propose requirements consistent with the risk assessment and risk profile of financial institutions and are designed to set an overarching framework for fraud management. The OCC guidance prescribes a framework aligned with the existing AML/BSA compliance and risk management frameworks.

Moreover, NICE Actimize Fraud Essentials leverages NICE Actimize's market-leading payments fraud prevention, digital banking protection, and case management capabilities to help companies address monitoring, detection, reporting and governance requirements stated in the OCC bulletin. NICE Actimize’s Fraud Essentials key features include:
  • An integrated platform that supports AML operations, as well as fraud detection and prevention controls;
  • Fraud risk management preventative controls like real-time transaction analysis and behavioural analytics;
  • Fraud risk management detection controls including cross channel, line of business, and payment type fraud detection models;
  • Fraud risk management measuring and reporting capabilities, including out-of-the-box reports;
  • Model Governance and auditing applications that fit the size, complexity, organisational structure, and risk profile of the organisation.

More: Link

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Keywords: NICE Actimize, fraud, OCC, risk management, financial crime, fraud, financial institutions, AML, behavioural analytics, transactions , fraud detection, transactions
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime