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#43

NICE Actimize is ranked #43 in the Risk Management Software product directory based on the latest available data collected by SelectHub. Compare the leaders with our In-Depth Report.

NICE Actimize Pricing

Based on our most recent analysis, NICE Actimize pricing starts in the range of $100 - $500.

Price
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Starting From
Undisclosed
Pricing Model
Annually, Quote-Based
Free Trial
Yes, Request for Free

Training Resources

NICE Actimize is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for NICE Actimize:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

NICE Actimize Benefits and Insights

Why use NICE Actimize?

Key differentiators & advantages of NICE Actimize

  • Eliminate Data Silos: Increase efficiency and accuracy of risk management procedures with a single, all-inclusive risk profile and trust score applicable across all domains. 
  • Enhance Adaptability: Adapt to the changing risk landscape with a platform continually learning from risk investigations and reviews. 
  • Streamline Customer Interactions: Save resources and improve cash flow by providing a friction-free user experience to trusted customers. 
  • Faster Investigations: Quickly resolve investigations and mitigate the risk of fraud with machine learning and AI-based insights. 
  • Highly Specialized Reports: Detect money laundering and fraud attempts faster with best-practice reports designed for financial institutions. 

Industry Expertise

Designed for the banking and finance industry.

NICE Actimize Reviews

Based on our most recent analysis, NICE Actimize reviews indicate a 'good' User Satisfaction Rating of 73% based on 9 user reviews from 2 recognized software review sites.

User satisfaction level icon: good

9 reviews

73%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of NICE Actimize reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

  • Comprehensive Coverage: NICE Actimize offers a wide range of modules, covering everything from anti-money laundering (AML) to fraud detection, allowing financial institutions to manage various risks effectively.
  • User-Friendly Interface: The platform's intuitive design makes it easy for users to navigate and understand, even for those without extensive technical expertise.
  • Strong Analytics Capabilities: NICE Actimize provides powerful analytics tools that help financial institutions identify patterns and trends in their data, enabling them to proactively mitigate risks.
  • Scalability and Flexibility: The platform can be scaled to meet the needs of organizations of all sizes, and its flexible architecture allows for customization to fit specific business requirements.
  • Robust Reporting Features: NICE Actimize offers comprehensive reporting capabilities, allowing financial institutions to track their risk management performance and demonstrate compliance to regulators.

Cons

  • Steep Learning Curve: Users often find the software's interface and functionality complex, requiring significant time and effort to master. This can be particularly challenging for teams with limited experience in financial crime risk management.
  • Limited Customization: Some users have expressed frustration with the limited customization options available, making it difficult to tailor the software to their specific needs and workflows. For example, they may struggle to configure alerts and reports to meet their unique risk appetite.
  • Integration Challenges: Integrating NICE Actimize with existing systems and data sources can be a complex and time-consuming process. This can lead to data inconsistencies and delays in implementing the solution effectively. For example, connecting to legacy systems or third-party data providers can be challenging.
  • High Cost: The cost of implementing and maintaining NICE Actimize can be significant, particularly for smaller organizations. This can be a barrier to entry for some businesses, especially those with limited budgets.

Researcher's Summary:

User reviews from the past year suggest that NICE Actimize is a powerful tool for financial institutions, but it's not without its quirks. Users praise its robust features, particularly its ability to customize models and its expansive transaction monitoring fleet. One user, a VP of Compliance at a large financial services firm, highlighted the platform's flexibility and its ability to handle a massive volume of transactions. He described it as "very scalable" and "impressive" compared to other platforms. However, the same user also pointed out that the platform's daily maintenance requirements can be a pain point, leading to a "snowball effect" if there are delays. He noted that the platform's complexity increases with each version release, making it a challenge to keep up with the daily processing demands.

Despite these challenges, users generally agree that NICE Actimize is a valuable tool for organizations that need to manage risk and compliance. Its strengths lie in its ability to detect and prevent fraud, monitor transactions, and manage investigations. The platform's comprehensive features and its ability to adapt to new and emerging threats make it a good choice for financial institutions that are looking to stay ahead of the curve. However, the platform's complexity and maintenance requirements may make it a less suitable option for smaller organizations or those with limited resources. Ultimately, NICE Actimize is best suited for organizations that have the expertise and resources to manage its complex features and ongoing maintenance needs.

Key Features

  • Anti-Money Laundering: Safeguard against fraud and customer risk throughout the customer lifecycle. Track financial transactions, compliance costs and regulatory posture to make agile business decisions. Integrated customer onboarding, enhanced due diligence (EDD) and know your customer (KYC) processes to increase customer security and improve client satisfaction. 
    • Customer Due Diligence (CDD): Leverage artificial intelligence, machine learning, intelligent automation and CDD expertise to get a 360-degree view of customer risk. Access risk data from external sources and Entity Insights to prepare AI-enabled risk profiles for customers. 
    • Currency Transaction Reporting (CTR): Use intelligent fraud detection modules to create currency transaction reports and monetary instrument logs (MILs). Automatically track suspicious transactions and validate CTRs. E-file reports and implement consistent workflows. 
    • Suspicious Activity Monitoring: Pinpoint risk scenarios and money laundering risks with intelligent rules-based models. Access intelligent segmentation, automated simulation and profiling analytics to meet compliance requirements. Improve scalability with state-of-the-art detection models and dynamic machine learning. 
    • Suspicious Transaction Activity Reporting: Electronically file reports with a preconfigured, out-of-the-box form library. Automatically populate webforms and track their status. Get global regulatory coverage and centralize all risk information. 
    • Cryptocurrency Intelligence: Identify high-risk virtual asset service providers (VASPs) before introducing them to financial institutions (FIs). Connect transactions to real-world entities and account numbers in the absence of proper KYC-AML controls. 
  • ActimizeWatch: Collect anonymous user data in real time to streamline data collection patterns, criminal typologies and rule and model performance. Reduce compliance costs with improved true positives and SAR conversion rates. 
  • Fraud and Authentication Management: Detect and manage fraud across FIs with real-time fraud detection, multi-payment coverage and cross channel analysis. 
    • Authentication Management: Implement completely customizable fraud and authentication management strategies. Simplify access for authorized customers and intercept accounts with high risk scores. 
    • Payment Fraud: Safeguard multiple payment types, including TCH/RTP, P2P and Zelle, ATM and debit transactions, SWIFT/Wire, ACH, BACS, SEPA payments and more. Assign risk scores to financial transactions and pinpoint genuine client interactions.
    • Employee Fraud: Leverage peer profiling and behavior analysis to identify employee fraud. 
    • Digital Banking Fraud: Track banking fraud in real time with data from transactions and upstream and downstream applications. Get contextual information about client activities via cross-channel, cross-product surveillance. 
  • ActOne: The ActOne portal provides a consolidated view of risk along with case oversight, investigation management and workflow implementation modules. 
    • Investigation and Case Management: Streamline the investigation process with dynamic risk values, visual storytelling and intelligent automation. Get continuous status updates about all analyst and robot activities. Unify data, activities and alerts across multiple domains to detect risk trends and patterns. 
    • Robotic Automation: Simplify daily, repetitive processes with automated workflows to minimize costs and human error. 
    • Quality Analysis: Provide quality analysts with preconfigured workflows. Implement sampling logic based on financial objectives and integrate with compliance teams for continuous improvement. 
    • Productivity: Monitor performance metrics, productivity levels and anomalous behavior. Implement recommended investigation pathways to remove bottlenecks optimally. 
  • Integrations: FIs can integrate multiple third-party applications via the API library. 
  • Financial Market Compliance: Continuously monitor the organization’s assets, communications, markets, instruments and regulatory jurisdictions to meet compliance requirements. Get an end-to-end financial service solution with real-time market surveillance, anti-money laundering detection, trade surveillance, fraud prevention and voice surveillance. 
    • Holistic Surveillance: Analyze and process trade-related data for contextual information and complete risk correlation. Reconstruct risk incidents to more accurately identify the intent behind exploitations. 
    • Markets Surveillance: Monitor financial transactions and market activity to pinpoint trading abuse. Track equities, fixed income, forex, swaps and more with integrated case management, alert, audit trail and investigation modules. 
    • Communication Surveillance: Effectively monitor relevant communications, including email, chat, video, and voice, with Natural Language Processing (NLP), built-in transcription, contextual querying and intelligent dashboards. 
    • Suitability Surveillance: Leverage standardized controls to manage sales and investment suitability regulations such as FINRA, IIROC, UK FCA, BaFin, CONSOB, HKMA and more. Monitor advisor and investment behavior and eliminate false positives. 

Limitations

At the time of this review, these are the limitations according to user feedback:

  •  Needs more investigation tools. 
  •  The implementation process is long and drawn out. 
  •  Has a steep learning curve. 

Suite Support

Subscribers can choose from various service level agreements (SLAs). The support portal, tools and services are available 24/7.

mail_outlineEmail: Available; log in to the support portal to access.
phonePhone: (800) 642-3611 or (720) 264-4002
schoolTraining: The Actimize University portal provides online product training via educational courses. Clients can also request instructor-led, hands-on training for a more personal approach.
local_offerTickets: Access the vendor’s support center to submit a support request and track the status of existing tickets.
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