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The Challenge

NICE Actimize is a leading provider of financial crime, risk and compliance solutions for regional and global financial institutions. A NICE (Nasdaq: NICE) company, NICE Actimize focuses on providing industry-leading realtime, cross-channel fraud prevention, anti-money laundering detection and trading surveillance solutions, and it counts the world’s top 10 banks among its clientele. Through its product portfolio, NICE Actimize addresses concerns such as payment fraud, identity fraud, cybercrime, sanctions screening, market abuse, customer due diligence and insider trading.

Clients turn to solutions from NICE Actimize to protect their end customers. As digital transactions have grown in the past decade or so, more consumers are taking advantage of mobile banking and other online services, but so are criminals. Fraudsters have used account takeover and social engineering to drain accounts, resulting in mounting fraud losses among financial institutions. Clients of NICE Actimize are focused on assurance that their interactions are always with a true customer.

Further, organizations expect fully integrated systems. NICE Actimize delivers this with its Integrated Fraud Management (IFM-X) platform, which offers advanced detection capabilities powered by artificial intelligence and machine learning. When leveraging the vast amount of identity, device and other critical data elements required to analyze risk and accurately predict the potential for fraud, the platform needs to include critical IP intelligence and risk data from a reliable source.

The Neustar Solution

Neustar's UltraGeoPoint provides critical data insights to help NICE Actimize determine whether a customer is a true customer. The IFM-X platform incorporates UltraGeoPoint data and considers factors such as whether the attributes of an IP address are the same as in the past and whether the location is consistent. Perhaps most compelling is UltraGeoPoint’s ability to indicate whether an IP proxy is involved, providing insight into whether connections are private or anonymized and flagging such connections for further review or investigation.

Neustar UltraGeoPoint’s anonymizer indicator is critical for NICE Actimize’s solutions. In combination with other datasets, the company uses UltraGeoPoint data to calculate risks for its clients, and the data is a key component of its models and algorithms. The results of NICE Actimize’s analysis enables its own clients to implement additional strategy layers or analysis. Given the speed of change in the financial industry and the commensurate speed at which attack vectors evolve, NICE Actimize clients need as accurate information as possible to create ad hoc rules and target emerging fraud attempts.

The Results

By incorporating Neustar’s UltraGeoPoint data into its decisioning platform, NICE Actimize provides added value for its clients by detecting areas of potential risk to their business. Armed with these insights, they can enrich their AI/ML risk models, adjust policy rules as needed, or enhance their investigation of fraud areas. To develop, in-house, the level of data and intelligence provided by Neustar’s UltraGeoPoint, NICE Actimize would have had to stray from its focus on and expertise in detecting fraud. Now, the company has no need to explain how it does IP geolocation; it’s sufficient to say they use Neustar.

“Our clients operate in an increasingly complex environment that requires scalable fraud coverage, and the comprehensive IP geolocation data delivered by Neustar’s UltraGeoPoint allows our best-in-class fraud detection and prevention solutions to continually create value for our customers,” explains Yuval Marco, general manager, fraud and authentication management, for NICE Actimize.

Adds Marco: “Neustar makes our solutions stronger, which helps our clients better protect their customers every day.”

NICE Actimize has been recognized as a Leader in Enterprise Fraud Management (EFM) by Forrester Research, a leading global research and advisory firm. The analyst group included NICE Actimize among the most significant vendors in the market in its recent report titled, "The Forrester Wave™: Enterprise Fraud Management, Q3 2021."

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