NICE Actimize Launches Authentication-IQ



NICE Actimize, a NICE business that provides a crime, risk, and compliance software platform for the financial services industry, has launched Authentication-IQ, a solution that manages multiple authentication methods across financial institution channels.

NICE Actimize's Authentication-IQ applies advanced analytics that dynamically decide the best authentication method for each transaction, based on the risk of fraud, consumer preference, and cost efficiency. The solution enables financial institutions to optimize authentication methods across digital channels and the contact center, reducing excessive challenges, false positives, and overlapping investigations.

"Being able to segment customers and dynamically decide the right method and level of authentication in each customer interaction is a major enhancement in both fraud prevention and customer care," said Shirley Inscoe, a senior analyst at Aite Group, in a statement.

Authentication-IQ allows financial service organizations to bridge their authentication and fraud strategies with behavioral analytics that consider customer authentication history and account and transactional profiles.

"Today's new authentication methods, from selfie-recognition to voice biometrics, are more innovative, yet more challenging to manage than ever before," said Erez Zohar, vice president and general manager of fraud and cybercrime at NICE Actimize, in a statement. "In this ever-changing environment, we help our clients provide their customers with a consistent, secure, multichannel authentication experience while reducing our clients' risk and optimizing their overall authentication costs."