Nice Actimize Fraud & Authentication Management Reviews

We are using it for transaction monitoring. Actimize has multiple modules, and we are using the SAM module. We are using version 8.5 of this module.

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.

It is complex in terms of daily maintenance. Other detection platforms run on a 15-day or one-month window, whereas this particular platform runs daily. Therefore, it requires daily maintenance. If there is a delay due to this daily maintenance, it creates a snowball effect impacting the subsequent days. It takes a lot of effort to catch up and get into BAU mode. It would be great if they could include certain features to make the daily processing less complex, but I don't see that happening. It is a complex product, and with each version release, it is just becoming more and more complex.

I would rate it a five out of ten in terms of stability. It requires daily maintenance, which contributes to less stability. If daily maintenance wasn't required, I would rate it very high in terms of stability.

It is very scalable. I would rate it a nine out of ten in terms of scalability. 

We currently have around 60 users. It is being used for multiple business lines in our bank. Its usage is very high. As far as expansion is concerned, there are no plans to expand its usage for the next two or three years.

I don't directly reach out to them. This is something our in-house technical support team does, but based on what I hear from our technical support team, their turnaround time is average. Our team is not extremely happy with their customer service. When they open a ticket, it has to go through a lot of bureaucracy. They open a ticket, and someone from the Actimize side evaluates that ticket to see whether it is critical or not. They get back based on its criticality.

Its initial setup is very complex. It took three months because it involved a lot of troubleshooting.

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.

We evaluated other options. The main reason for choosing Actimize was that it is a market leader in the AML transaction monitoring space, which is a huge plus when it comes to the regulator or even optics associated with it.

I would recommend this solution, but this recommendation comes with a disclaimer that a big support team is required to maintain this solution daily. It is a good solution, but you should be ready to spend a lot on the technical support team.

I would rate Nice Actimize Fraud & Authentication Management an eight out of ten.

Our primary use case of this solution is transaction monitoring and for case management. We are customers of Nice and I'm the VP of compliance.

We have been using this product for regulatory reasons because it's a market leader in AML domain. It helps when we go to the regulators and can show them we're using a solution that is a market leader. It gives us comfort and gives the regulators comfort that our transaction monitoring software is up to scratch. 

The case management feature is the most valuable. The case management tool is user friendly.

I think this solution is unnecessarily complex. The transaction monitoring software, SAM, in particular, is extremely complex.

An additional feature I'd like to see would be a good data quality monitoring module. Currently, we have to build our own module, our own functions, in order to monitor the quality of data which goes into Actimize. Actimize knows that if the data quality is not up to the mark, the solution doesn't function as expected. If they could build some sort of data quality monitoring module on top, which is inbuilt into their functionality, that would be really helpful.

I've been using this solution for close to five years. 

If installed correctly, this is a stable product.

This solution is scalable. For the case management tool, which is a user interface, we have around 150 users. 

I don't deal with technical support so can't comment on the quality, but I know a lot of technical support is required from Actimize. It's not a solution that is very easy to maintain. I know from our IT staff, that they have had to hire many past Actimize employees because it's just a very complex tool.

I have experience with three softwares and I would recommend Mentor on top of Actimize. The technical component of Actimize is unnecessarily complicated. The solution requires a lot of testing.

I would rate this solution a seven out of 10. 

We use the solution to pull the information required to submit the applications and documentation.

The most valuable feature is automation which makes our transaction capture 40 percent easier.

The patch section has room for improvement. For example, if we have a fax number system in a google search with a particular person who has anything attached to their relationship, there should be an easier way to match the information. Also when a customer ID or address changes the information should sync up and match. 

I have been using the solution for five years.

The solution is stable.

The solution is scalable.

The initial setup is easy. The deployment time depends on the individual and if we have multiple IDs and joint accounts. A Minimum of five days would be required to deploy the solution.

The solution is expensive.

I give the solution an eight out of ten.

The solution is more costly than some others, but if the organization can afford it, I would recommend it over the others.

I use this solution for transaction monitoring.

Within my company, roughly 50 people use this solution. Within our other branches, I would estimate that there are roughly 200 people using this solution — mostly analysts and supervisors in charge of compliance.

My team does the testing. From the bank-side, we are the product owner. If there are any requirements from the end-users, we raise it to the Actimize team. If it requires maintenance, then usually the maintenance team handles it, but sometimes, we handle it from our side as well. On my side, we have a team of about 10 to 15 people who can help with maintenance.

For the past 10 years, anti-money laundering is something that has really developed in Malaysia, especially in Malaysia and Singapore. Anti-money laundering and transaction monitoring solutions are really an important component in our banks — we didn't have this before.

To be honest, I had never used a similar application before but based on my experiences using Actimize, it's a solid application and very user-friendly as well. 

NICE Actimize has actually removed a lot of manual processes, especially related to monitoring our customer's transactions. Based on the rules that we have set, it helps us a lot in the first layer of filtering. It has removed a lot of manual processes as most of our customers perform recurring transactions.

Before we had Actimize, we had to filter or evaluate the same behaviors for the same customers or the same accounts on a monthly basis. Thanks to Actimize, we have certain rules that essentially rule-out these kinds of transactions because, based on our previous evaluation, it is actually a common or normal behavior of the customer. We have actually removed that big part. Now it can really help us in terms of evaluating customer transactions.

It's a very good product for compliance and transaction monitoring for anti-money laundering.

When an unusual customer transaction occurs, it triggers an alert that notifies us. 

The UI is very user-friendly.

I have experience using Actimize with two different organizations, Citibank and UOB. Both are slightly different in terms of the user interfaces, but when it comes to what rules we set and the threshold in scoring, that actually depends on the bank itself, on the compliance- side. In UOB in particular, the response time was a bit slower than Citibank.

I have been using this solution as a tester for almost three years.

NICE Actimize is very stable.

I would say that 90% to 95% of the time, when there is an issue scalability-wise, is not a limitation from Actimize. We can actually configure it. 

Personally, I found the technical support to be a little slow. I'm not sure if it's because of the setup or the configuration of UOB Actimize, but when we raise an issue, they don't respond very quickly. Sometimes this impacts our project timing which is also a problem for our end-users as well.

I was not involved in the initial setup.

That is handled by the compliance team; we are just a support team that assists them in terms of testing only.

I would recommend this product to any other organization that wants to use it. My advice would be: it is very important to prepare upfront. What is the main theme or types of configurations that you want to do? This is important because after you have implemented it, it will be very difficult to change it in the future. For example, currently, I'm handling a project for two different countries (Thailand and Vietnam), but it's on the same platform. These countries have agreed to use this platform and they will have their own configurations. 

Before that, I was doing a project for Singapore and the Philippines but I did it with two different platforms. It was the same product, but with two different platforms and different configurations. After some time, a few years of using Actimize for Singapore and the Philippines earlier, we decided that these two countries should use Actimize as well, but there were some takeaway points from Singapore and the Philippines that we wanted to change for this different platform for Taiwan and Vietnam.

Whatever issues that we experienced when we did the project for Singapore and the Philippines earlier, we didn't encounter those problems in Taiwan and Vietnam later. It was actually a good lesson learned.

Overall, on a scale from one to ten, I would give NICE Actimize a rating of nine. It's a great solution for project monitoring. 

I use it for financial claims monitoring. I am using its previous version.

The core engine seems to be better than the rest for pattern recognition. It is able to process large amounts of data.

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.

Their professional services group could certainly use a boost. Their QA process is getting better, but it is still not where it should be. Their release QA crew could certainly use improvement.

I have been using this solution for about six years.

Its scalability is good. They've got that covered.

Our clients are large businesses. It is used by analysts, and roughly, throughout the group, there are 3,000 to 4,000 users.

I would rate them a seven out of 10. They need to improve on the response time. The level two support is good. It is the level one support that needs a little bit of coaching. This is the struggle that pretty much every software development firm goes through.

Neutral

It is quite complex. It is not straightforward.

I would go for it. With all the negatives, it is still the best in the market.

I would rate it an eight out of 10.

Actimize warns us of suspicious activity reports and suspicious transactions when a device is non-compliant. Thereafter balance transfer without insurance, inadequate channels, certain kind of use cases they are used to sort out phone transfer in violation of AML web concern.

I like the tracking methodology. Though it was implemented on-premises, the compliance is compatible with it. It has certain modifications with RPM and APR. It has good exposure from a compliance point of view.

Risk Control Monitor, RCM, needs improvement. Whenever we go for another generation, if it happens to have a lead generation failure or a high amount of alerts, the generation filers take a longer time. 

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 used Actimize from 2017-2019 and I was responsible for the development and support of clients in Singapore, Malaysia, South Korea, Vietnam, and India. 

We don't have problems with stability and scalability. It is a definitely scalable product. From the user point of view, it definitely has the scalability to handle an adequate workload.

I would rate their technical support a 7.5 out of ten.

The initial setup was straightforward. The deployment did not take much time. Scope expansion takes a certain amount of time and it's more as compared to that of the normal one. Performance tuning is required.

I had a team of four employees who used to do the deployment. 

If you want to go with Actimize, one drawback is that you will need to have two different database consoles. One is for the RMS Management Studio another is for an Oracle database. If you would like to go with a single unified version and would like to have the simpler kind of console, then Opstat is also equally good. It depends on the vendor's requirements.

In the next release, I would like to see a provision for the generation of identity-based notifications, like email notifications that can be communicated to Outlook or Microsoft. Email notifications can definitely be a value-add. 

I would rate Actimize an 8.5 out of ten.

We are customers of NICE Actimize (Watch List Filtering, Customer Due Diligence and Suspicious Activity Monitoring modules) and I worked on Sanctions and regulatory affairs during implementation of the solution. 

Previously there were processes in place but not completely automatic. With NICE Actimize those processes have now been completely automated. We now receive a comprehensive view of exactly what risks are involved with a particular scenario. It provides a complete picture which helps in rational decision making quicker. 

This solution is user-friendly interactive, informative and it is also very light. The dashboard is comprehensive and fully informative. We like the full set solution starting with evaluation, then implementation, and after implementation support. NICE Actimize has people with domain expertise and experience who add value to the processes, function and organization as a whole. The team is very professional. 

As business user, we do not encounter challenges working on the solution. Minor customizations will help to improve the processes. 

I've been using this solution for five years. 

It's a very stable and highly reliable solution. Actimize has technical experts that understand our business volumes and based on that they extrapolate volumes for the present and also for the future. Based on that data, they recommend certain configurations and that enables a fully reliable solution. Maintenance is carried out by our four-person technology team and the rest are business users. If there are any day-to-day issues, we liaise with our technical team and they rectify it if they can. If not, they can connect with NICE Actimize support. 

The solution is scalable. We have around 75 people using it in the company and plan to increase that at some point in the future. 

The technical support is excellent, they are very supportive. 

Not applicable

The initial setup was straightforward. It's a solution used for banking institutions so the NICE experts had to understand our business and the reason we're using it, particularly as we were the first client in the region and industry to implement the solution. 

Implementing the solution required many changes from us at an organizational level and from our POS system as well. It required some time and it's difficult to quantify that. It's been a great journey for us. We carried out a risk due diligence before integration, and we did the implementation ourselves with necessary support from NICE Actimize throughout. 

It's a combination of both. As highlighted above, NICE Actimize has the people with right expertise and experience. Level of expertize: 9/10

One time licensing and implementation fee in addition to an annual maintenance contract. Any new requirements or custom enhancements will follow the change order process. 

We evaluated some other solutions, such as iDetect, 3i Infotech, SAS and LexisNexis.

I would recommend this solution, it's very comprehensive and has given us many insights. We learned a lot from NICE Actimize team which helped us streamlining certain processes in our organization as well. 

I would rate this solution a 9 out of 10. 

We use it to check all the options for our risk manager, like what kind of entitlements the users have. There are different rules. We use NICE to make that visible. We want to see what reports and options they can see. 

It has improved my organization because whenever there are transactions in high-risk countries that have a stricter set of rules, it alerts us to it. We can check to see if these are genuine transactions. If it's suspicious we can see if we need to block or prevent those transactions. Actimize helps to validate these checks. It prevents fraud and detection frauds.

The alerts are the most valuable feature because we get different alerts. Different data is fed to Actimize. It alerts us if a transaction happened from a certain place. 

We can pull out different management reports. We can get reports that tell us what users can view. 

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 stability is good. I don't see many issues or downtime. If you have complete access entitlement, you'll be able to perform all the activities and operations. I don't see any issues there.

It's not difficult to scale this application. Scalability not an issue. It is doable and it is achievable.

We used to contact support if we had issues. We would email them but we were not in direct contact. They would get the issue resolved.

I have worked with Global PAYplus. Actimize is for prevention and detecting suspicious activities. GPP is a payment processing engine. If it's a high-risk country, they put a hold on it. 

Actimize in itself is a full-fledged application that is required in addition to GPP as well.

The initial setup was moderate. It wasn't complex but wasn't too easy either. The deployment takes a day or two. Not more than ten people are required for the deployment. Their roles include data administrators, developers, integration leads, and product owners, and managers.

If there are huge transactions in terms of volume, the ROI is very good. It ultimately depends on how much volume is happening. For big banks, losses are high if even one or two transactions if result in fraud.

Whenever you do any transaction always double-check what you are entering like country codes or account numbers. One or two digits are based here and there and it will make a huge difference. You have to follow up. Be very careful of what you're entering.

I would rate Actimize an eight out of ten.