NICE Actimize, a NICE (NASDAQ: NICE) business, today announced the launch of its advanced, X-Sight Entity Risk SaaS solution, an innovative solution that produces a single risk score that enables a financial institution to gain a greater understanding of their clients across the organization.
Powered by artificial intelligence, machine learning, entity resolution, and network analytics, X-Sight Entity Risk enhances the efficacy of advanced anti-money laundering, enterprise fraud prevention, and other financial services applications.
NICE Actimize’s X-Sight Entity Risk solution delivers data intelligence from a variety of data sources to ensure an entity profile is always accurate and analyzes entity networks and behaviors to provide a single entity trust score which informs detection and prevention systems to power their analytic precision. In addition, the continuous learnings from prevention, detection, and investigation outcomes further enrich the profile and score, thus ringing in the era of connected intelligence — a game-changer in the fight against fraud and financial crime.
Offering a powerful blend of AI, machine learning, and automation, the solution reveals hidden risks and provides a fully transparent view of entities across the entire organization. This allows firms to shift from reactive to proactive risk management while growing their business.
“Financial services organizations are placing greater emphasis on expanding a risk-based approach to fighting financial crime,” said Craig Costigan, CEO, NICE Actimize. “Serving this need with pioneering technology, the breakthrough, AI-powered X-Sight Entity Risk solution provides an unparalleled ability to access true and transparent business intelligence around customers and entities.”
Connecting the dots across a financial institution, X-Sight Entity Risk works with other NICE Actimize solutions and is agnostic with other third-party solutions. Adaptive and agile, X-Sight Entity Risk enhances end-to-end enterprise fraud solutions’ effectiveness while enriching entity-centric AML capabilities. In addition, since the cloud powers it, X-Sight Entity Risk provides the ability to run analytics exceptionally fast, therefore offering faster access to risk scoring data while delivering efficiency gains.