We need a separate license for each of the packages, such as the core package, self-development package, and customization package. Additionally, we need a separate license for using Designer. We must upgrade our license every 200 or 365 days.
I am not privy to the cost. The estimate that I provide won’t reflect the actual amount since there are a lot of middlemen and other parties involved. In Nigeria, the phase one deployment would cost 165,000,000 Nigerian Naira which includes CDD, RCM, WNS, etc. This cost is for the implementation alone and I am not sure about the other costs that come with scaling up.
VP Complience at a financial services firm with 10,001+ employees
Real User
2021-05-19T11:39:38Z
May 19, 2021
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.
I'm actually not sure about this as this would be done on a client-to-company basis. Most probably it is on a yearly basis or a bi-yearly basis. Or it could also be greater than that because if a big bank is going to put money into some solution, they won't be doing it for a shorter period. They would like to carry it on for a longer period. I do not have an exact idea of this. What Actimize has done with the standard license is to give the amount of flexibility you can have and the type of solution you want and has customized the pricing based on that. If you only want an AML solution, you will be charged separately. If you only want an activity monitoring solution, you will be charged separately. Or if you want a custom solution, you will be charged separately. If you want a custom solution as well as something you want to develop and use as plugins, then it will have different pricing altogether. So they have divided the pricing based on that.
Learn what your peers think about Nice Actimize Fraud & Authentication Management. Get advice and tips from experienced pros sharing their opinions. Updated: April 2024.
AVP, Compliance at a financial services firm with 10,001+ employees
Real User
2020-11-15T22:35:03Z
Nov 15, 2020
I'm not involved in the licensing negotiations, but personally, I don't like the length of our vendor contracts because it kills our flexibility. I understand why they do it though. I know they're doing it for predictability and such, but from my perspective, it doesn't allow us to be as flexible. My bank and several other banks are very large and they don't value flexibility. They value consistency more than flexibility. So I think it was a choice based on the size of the bank and the size of the contract. I don't know what the numerical value of the contract is. We have a support contract. When we make changes, there are additional charges for making new changes or additions to our standard contract. I also don't know the value of those, but I have heard conversations on conference calls that there's going to be a cost involved with Actimize for making changes beyond a certain point. So, we have a basic support contract, and beyond that, we have to pay for additional changes.
Associate Manager - Sanctions, Regulatory Affairs and AML Projects at UAE Exchange
Real User
2020-11-12T06:59:22Z
Nov 12, 2020
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.
The solution is reasonable for enterprise customers.
We need a separate license for each of the packages, such as the core package, self-development package, and customization package. Additionally, we need a separate license for using Designer. We must upgrade our license every 200 or 365 days.
I am not privy to the cost. The estimate that I provide won’t reflect the actual amount since there are a lot of middlemen and other parties involved. In Nigeria, the phase one deployment would cost 165,000,000 Nigerian Naira which includes CDD, RCM, WNS, etc. This cost is for the implementation alone and I am not sure about the other costs that come with scaling up.
Nice Actimize Fraud & Authentication Management is an expensive product.
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.
I'm actually not sure about this as this would be done on a client-to-company basis. Most probably it is on a yearly basis or a bi-yearly basis. Or it could also be greater than that because if a big bank is going to put money into some solution, they won't be doing it for a shorter period. They would like to carry it on for a longer period. I do not have an exact idea of this. What Actimize has done with the standard license is to give the amount of flexibility you can have and the type of solution you want and has customized the pricing based on that. If you only want an AML solution, you will be charged separately. If you only want an activity monitoring solution, you will be charged separately. Or if you want a custom solution, you will be charged separately. If you want a custom solution as well as something you want to develop and use as plugins, then it will have different pricing altogether. So they have divided the pricing based on that.
I'm not involved in the licensing negotiations, but personally, I don't like the length of our vendor contracts because it kills our flexibility. I understand why they do it though. I know they're doing it for predictability and such, but from my perspective, it doesn't allow us to be as flexible. My bank and several other banks are very large and they don't value flexibility. They value consistency more than flexibility. So I think it was a choice based on the size of the bank and the size of the contract. I don't know what the numerical value of the contract is. We have a support contract. When we make changes, there are additional charges for making new changes or additions to our standard contract. I also don't know the value of those, but I have heard conversations on conference calls that there's going to be a cost involved with Actimize for making changes beyond a certain point. So, we have a basic support contract, and beyond that, we have to pay for additional changes.
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.