NICE Actimize, a NICE business (Nasdaq: NICE) and provider of Autonomous Financial Crime Management, is introducing its Federated Learning capability that will provide financial services organizations (FSOs) with higher fraud detection rates across numerous fraud scenarios by leveraging NICE Actimize´s Collective Intelligence network, the company said.
With this innovative cloud-based approach that uses machine learning analytics, FSOs can protect their institutions more effectively against multiple fraud typologies, including real-time payments fraud, while improving customer experience.
Through its application of Federated Learning, NICE Actimize has achieved compelling results in improving value detection rates. Using this approach has also proven to be effective in easing the process of model governance. Additionally, since the method is model agnostic, it can be applied across the range of NICE Actimize fraud solutions for different applications.
NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators.
NICE is the world´s provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data.