How does NICE Actimize Fraud Management compare to Sift Platform?

NICE Actimize's Enterprise Fraud Management (EFM) platform, branded as Integrated Fraud Management (IFM-X), is a calable solution designed to help financial institutions detect, prevent, and manage fraud across multiple channels and products. By leveraging advanced analytics, machine learning, and real-time processing capabilities, IFM-X provides organizations with a holistic and proactive approach to combating fraud.

NICE Actimize’s IFM-X platform is recognized as a leader in enterprise fraud management by analysts like Gartner and Forrester. Its flexible and modular approach makes it suitable for a wide range of use cases:

1) Retail Banking: Protecting personal accounts and consumer transactions.
2) Corporate Banking: Safeguarding business accounts and high-value payments.
3) Fintech and Digital Wallets: Preventing fraud in emerging payment methods and platforms.

Key Modules

Card Fraud Detection:
- Detects fraud in credit, debit, and prepaid card transactions.
- Supports EMV, contactless payments, and 3D Secure protocols.
- Prevents counterfeit card fraud, card-not-present (CNP) fraud, and lost/stolen card fraud.

Payments Fraud:
- Protects real-time payments, wire transfers, and ACH transactions.
- Mitigates risks associated with faster payment schemes like SEPA and FedNow.
- Includes capabilities for preventing authorized push payment (APP) fraud.

Digital Banking Fraud:
- Safeguards mobile and online banking platforms against account takeover (ATO), phishing, and malware attacks.
- Monitors login patterns, device data, and session behaviors to detect anomalies.

Insider Fraud Detection:
- Identifies suspicious activity originating from employees or contractors.
- Monitors access to sensitive systems and data for unusual behavior.

The Sift Platform is a comprehensive AI-powered solution designed to protect businesses from a wide range of digital fraud risks while enhancing customer experiences. By leveraging a global data network that processes over 1 trillion events annually from 34,000 sites and apps, the platform delivers unparalleled fraud detection accuracy through real-time risk insights.

Sift's platform unifies multiple fraud prevention solutions into a single, easy-to-use system, addressing use cases across the customer journey:

- **Payment Protection**: Detect and prevent fraudulent transactions with real-time behavioral analysis and machine learning models. Reduce chargebacks, protect revenue, and ensure seamless payment experiences.

- **Account Defense**: Stop account takeover (ATO) attempts before they happen by analyzing user behavior and identifying anomalies indicative of unauthorized access. Strengthen consumer trust and scale fraud management effectively.

- **Content Integrity**: Safeguard user-generated content by detecting and blocking spam, scams, and malicious activities. Protect brand reputation and foster a trustworthy environment for users.

- **Dispute Management**: Simplify the chargeback process by automating workflows, prioritizing high-value disputes, and building winning responses. Reduce operational complexity while recovering lost revenue.

Recognized as a leader in digital fraud management by Forrester, the Sift Platform provides businesses with unmatched insights, robust automation, and access to a thriving community of fraud experts. Its cutting-edge machine learning models continuously adapt to emerging threats, helping businesses operate securely and grow fearlessly.

With over 1.6 billion unique digital personas analyzed and $4.2 million in annual fraud losses prevented per customer (median), Sift transforms fraud prevention into a competitive advantage for modern businesses.

• 🏆 Ranked - Leader by Forrester (2024)
• 🏆 Best AI-based Solution for Customer Experience by AI Breakthrough Awards (2024)
• 🏆 Category Winner - Use of AI for Customer Service by Chartis (2024)
• 🏆 Category Winner - Use of AI in AML and Transaction Monitoring by Chartis (2024)
• 🏆 Category Winner - Use of AI in Financial Crime Risk by Chartis (2024)
• 🏆 Financial Crime and Compliance50 2024 - Ranked 1 by Chartis (2024)
• 🏆 RiskTech AI 50 2024 - Ranked 8 by Chartis (2024)
• 🏆 Ranked - Leader by IDC (2024)
• 🏆 Category Winner - Use of AI in communication and control by Chartis (2024)
• 🏆 RiskTech100 2024 - Ranked 15 by Chartis (2024)
• 🏆 Category Winner - Case Management by Chartis (2024)

• 🏆 Ranked - Strong Performer by Forrester (2024)

NICE Actimize is a leading provider of financial crime, risk, and compliance solutions for organisations in the financial services industry. A division of NICE, Actimize leverages analytics, artificial intelligence (AI), and machine learning to help its clients mitigate risks, detect fraud, prevent financial crimes, and ensure regulatory compliance. NICE Actimize has headquarters in Ra'anana, Israel, and offices worldwide.

NICE Actimize consistently ranks highly in 'top' lists for financial crime and fraud solutions. Currently, its key solutions cover AML, Enterprise Fraud Management, Financial Markets Compliance, Investigation and Case Management and KYC.

Sift, founded in 2011 and headquartered in San Francisco, California, is a leading provider of AI-powered digital trust and safety solutions. The company specializes in helping businesses detect and prevent fraud, ensuring secure and seamless online experiences for users. Sift's platform leverages advanced machine learning algorithms to analyze vast amounts of data, enabling real-time fraud detection and risk assessment.

Over the years, Sift has established itself as a significant player in the fraud prevention industry. The company has attracted substantial investment, securing approximately $156.6 million in total funding. This financial backing has facilitated the development of innovative solutions and the expansion of Sift's services to a global clientele.

Sift's platform offers a comprehensive suite of tools designed to address various fraud challenges, including payment fraud, account takeover, and content abuse. By integrating Sift's solutions, businesses can effectively mitigate risks and enhance operational efficiency. The platform's scalability and adaptability make it suitable for organizations of all sizes, from startups to Fortune 500 companies.

Sift's dedication to excellence has been recognized within the industry. The company has been named a Leader in the Forrester Wave™ for Digital Fraud Management, highlighting its significant impact on the digital trust and safety landscape.