FICO Falcon Platform vs Nice Actimize Fraud & Authentication Management comparison

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Executive Summary

We performed a comparison between FICO Falcon Platform and Nice Actimize Fraud & Authentication Management based on real PeerSpot user reviews.

Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention.
To learn more, read our detailed Fraud Detection and Prevention Report (Updated: March 2024).
765,386 professionals have used our research since 2012.
Featured Review
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pros
"FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until now."

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"The solution is easier to set up, configure, and use than other products.""The process and technology in the solution are very fast, and it is bug-free.""It's a very good product for compliance and transaction monitoring for anti-money laundering.""The solution's technical support is good.""The alerts are the most valuable feature because we have different alerts. Different data is fed to Actimize. It alerts us if a transaction happened from a certain place.""They have a very expansive transaction monitoring fleet. They have a lot of models and rules to choose from. Its flexibility or ability to customize a model is very impressive as compared to other platforms.""The most valuable feature is the designer, which allows us to connect to UI and build things directly, such as creating a platform with our synchronizing policy manager rules, without any additional requirements.""Nice's most valuable feature would be its rule engine."

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Cons
"I've had bad experiences with FICO support. At the bank, we've faced critical problems where we only had minutes to find the solution, and it's hard to explain quickly. We contacted FICO, but they told us it was beyond their scope of support. They try to triage the call by asking us how much money we're losing, but I can't go into that."

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"From the front end side, the UI is definitely user-friendly. It is highly compatible as long as the reading is at the coding point of view. But it can't provide certain high coding. When a person clicks on any kind of scenario or alert, I would like to have a metadata help menu.""I would say — Actimize is not being moved forward by Nice.""It has become too complex for its own good with a lot of versions. They are trying to do too much. Instead of keeping it sort of traditional and keeping the core search engine as a standalone and having analytical bolt-ons, they have decided to jam it all into the same product, which made the product overly complex and difficult to implement.""Licensing costs are high compared to other products in the market.""Could include additional customization""Sometimes when we move from one version to another, a few things don't work as expected.""I would like for it to proactively give suggestions or hints before initiating the transaction. It could make use of the data that has already occurred, like machine learning. It should learn patterns from specific countries.""The patch section has room for improvement."

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Pricing and Cost Advice
  • "FICO is one of the best fraud detection platforms. However, a small bank might find it too expensive. In that case, I would agree it's probably not worth it. However, it's a no-brainer if your bank has 50 million accounts and 7 million credit card transactions daily."
  • More FICO Falcon Platform Pricing and Cost Advice →

  • "I don't know how licensing is handled in the current organization. I know that Actimize provides an option for yearly licensing because that's what we had in my previous job."
  • "Nice Actimize Fraud & Authentication Management is an expensive product."
  • "We need a separate license for each of the packages, such as the core package, self-development package, and customization package."
  • "It is reasonable for enterprise customers."
  • "I don't like the length of our vendor contracts because it kills our flexibility."
  • More Nice Actimize Fraud & Authentication Management Pricing and Cost Advice →

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    Questions from the Community
    Top Answer:FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until… more »
    Top Answer:When I was working at another bank, people often complained that FICO was expensive. I would tell them that it depends on the volume—for example, the old bank million 7 million transactions. If you… more »
    Top Answer:Fraud will always be a problem here in Brazil, and I think blockchain technology is the future because it increases transparency in transactions. Even with Falcon, we need to spend time verifying… more »
    Top Answer:We use the solution as an anti-money laundering application to monitor financial crimes.
    Ranking
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    Comparisons
    990
    Reviews
    1
    Average Words per Review
    1,029
    Rating
    10.0
    Views
    3,333
    Comparisons
    873
    Reviews
    9
    Average Words per Review
    1,051
    Rating
    8.4
    Comparisons
    Also Known As
    Falcon Platform
    Actimize, NICE Actimize, Nice Actimize Fraud and Authentication Management)
    Learn More
    Overview

    Consumer banking preferences are changing - fast. Customers want to transact how and when they choose, without latency. They want a banking relationship that’s 100% convenient and 100% secure. The FICO Falcon Platform, the world’s most intelligent fraud platform, advances the consumer experience by extracting frauds from real time payment streams while remaining invisible during legitimate transactions.

    With over 70 patents in fraud-specific machine learning and AI, the FICO Falcon Platform helps financial institutions detect and prevent fraud seamlessly, in real time, all while improving the bottom line and advancing the consumer experience.

    The FICO Falcon Platform allows you to score transactions, across a rapidly expanding array of payment options, and understand customer behavior patterns so you can intelligently prevent and monitor suspicious and fraudulent behavior.

    Delivers real-time, customer-centric fraud prevention that supports a holistic, enterprise-wide fraud management program.
    Sample Customers
    Associated Banc-Corp
    Top Industries
    VISITORS READING REVIEWS
    Financial Services Firm39%
    Computer Software Company17%
    Manufacturing Company5%
    Retailer4%
    REVIEWERS
    Financial Services Firm78%
    Computer Software Company11%
    Printing Company11%
    VISITORS READING REVIEWS
    Financial Services Firm42%
    Computer Software Company10%
    Manufacturing Company5%
    Energy/Utilities Company4%
    Company Size
    VISITORS READING REVIEWS
    Small Business13%
    Midsize Enterprise7%
    Large Enterprise80%
    REVIEWERS
    Small Business24%
    Large Enterprise76%
    VISITORS READING REVIEWS
    Small Business17%
    Midsize Enterprise12%
    Large Enterprise71%
    Buyer's Guide
    Fraud Detection and Prevention
    March 2024
    Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention. Updated: March 2024.
    765,386 professionals have used our research since 2012.

    FICO Falcon Platform is ranked 3rd in Fraud Detection and Prevention with 1 review while Nice Actimize Fraud & Authentication Management is ranked 1st in Fraud Detection and Prevention with 17 reviews. FICO Falcon Platform is rated 10.0, while Nice Actimize Fraud & Authentication Management is rated 8.2. The top reviewer of FICO Falcon Platform writes "It can set rules to identify suspicious activity at each point of sale during every transaction". On the other hand, the top reviewer of Nice Actimize Fraud & Authentication Management writes "Highly intelligent and effective for detecting fraud in transactions". FICO Falcon Platform is most compared with SAS Fraud Management, ThreatMetrix, IBM Safer Payments, ACI Fraud Management and Featurespace ARIC Fraud Hub, whereas Nice Actimize Fraud & Authentication Management is most compared with BAE Systems NetReveal, IBM Safer Payments, ThreatMetrix, Guardian Analytics Fraud Detection and Featurespace ARIC Fraud Hub.

    See our list of best Fraud Detection and Prevention vendors.

    We monitor all Fraud Detection and Prevention reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. We validate each review for authenticity via cross-reference with LinkedIn, and personal follow-up with the reviewer when necessary.