Partnering with the X-Sight Marketplace,
OrboGraph to deliver image analysis and recognition technologies
for fraud prevention
Helping financial services organizations keep up with a changing
market landscape, NICE Actimize, a NICE business (Nasdaq:
NICE) and leader in Autonomous Financial Crime Management,
today announced that OrboGraph has joined the X-Sight Marketplace,
the industry’s first financial crime risk management-focused
ecosystem designed to assist financial services organizations
evaluate new point solutions and move to stay on top of a
challenging regulatory and criminal environment.
The X-Sight Marketplace leverages the X-Sight
Platform-as-a-Service and further expands the functionality offered
by the platform. The NICE Actimize X-Sight Platform-as-a-Service
offers a single, unified, cost-effective way for financial service
organizations to rapidly innovate and to introduce new services
while supporting best-in-class financial crime, risk and compliance
management capabilities.
OrboGraph’s flagship solution for check fraud prevention,
Anywhere Fraud, applies image analysis (automated signature
verification, check stock validation, and check style analysis)
with optional transaction analysis (data analytics) to on-us and
transit checks for identification of counterfeits, forgeries, and
alterations in real-time or batch processing. Anywhere Fraud can be
applied to any traditional or self-service check workflow,
including Inclearings, teller, ATM, mobile or RDC. The image
analysis technology scores the check image considering fraudulent
attributes, then feeds the results to fraud review and case
management systems for final decisioning.
Technology providers, such as OrboGraph with its OrboAnywhere
suite, that partner with NICE Actimize’s X-Sight Marketplace
ecosystem, are reviewed for their ability to complement financial
crime and compliance solutions. Once approved, software and service
providers become available to the NICE Actimize community via the
X-Sight Marketplace. FSOs can quickly browse through X-Sight
Marketplace solution categories to find scalable options that solve
their unique business problems.
Integrating OrboGraph’s Anywhere Fraud into the NICE Actimize
Integrated Fraud Management Platform, IFM-X, enables financial
service organizations to enrich transaction data with check image
scores (like counterfeit stock or forged signatures). The combined
solution can achieve significant benefits, including:
- Improving fraud detection above traditional transaction
analysis along with greater accuracy of detection;
- Closing the gap between digital payments and paper-originated
payments by stopping more check fraud at the bank of first deposit
(BofD) as well as at the paying bank;
- Strengthening the barriers for protection against sophisticated
fraud schemes, including kiting, when fraudsters transfer funds
from one payment modality to another, i.e. deposit a check via
mobile, then transferring to another account with real-time
payment.
“OrboGraph welcomes this partnership with NICE Actimize as we
bring innovation and business value to the large bank market as
well as regional financial institutions,” stated Barry Cohen,
Co-President, OrboGraph. “There is strong synergy and alignment
between the industry-leading financial crime solutions and
platforms that NICE Actimize offers its community and OrboGraph. We
look forward to building our presence within this innovative
community platform.”
“We are excited that OrboGraph, who shares our common goal of
bringing further benefits of intelligent automation to the
Marketplace ecosystem, is partnering with us and joining the
X-Sight Marketplace community,” said Craig Costigan, CEO, NICE
Actimize.
Additional categories that will be added to NICE Actimize’s
X-Sight Marketplace from other partner participants will include ID
Verification, Ultimate Beneficial Ownership, Value-added Data &
Adverse Media, Watchlist, Device Identification, and User
Authentication & Fraud. Additional partners will be announced
as the X-Sight Marketplace grows.
For more information on the X-Sight Marketplace, please click
here.
If you are a technology company or financial institution wishing
to be part of the first financial crime and compliance marketplace,
please contact us at info@niceactimize.com.
About OrboGraph OrboGraph (www.orbograph.com), a
subsidiary of Orbotech, is a premier developer and supplier of
intelligent electronic/paper automation solutions in healthcare
revenue cycle management (RCM), as well as recognition solutions,
payment negotiability and check fraud detection for the U.S. check
processing market. The company mantra, “intelligent payment
automation,” describes how intelligent technologies are applied so
payment posting becomes an automated process, and information is
accessed and analyzed via a variety of business intelligence,
analytics and user interface capabilities. Nearly 4,000 financial
institutions, service bureaus, clearinghouses and billers rely on
OrboGraph technology to process billions of checks, EOBs,
correspondence letters and claims annually.
About NICE Actimize 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. Consistently ranked as number one in the
space, NICE Actimize experts apply innovative technology to protect
institutions and safeguard consumers and investors assets by
identifying financial crime, preventing fraud and providing
regulatory compliance. The company provides real-time,
cross-channel fraud prevention, anti-money laundering detection,
and trading surveillance solutions that address such concerns as
payment fraud, cybercrime, sanctions monitoring, market abuse,
customer due diligence and insider trading. Find us at
www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.
About NICE NICE (Nasdaq: NICE) is the worldwide leading
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.
NICE helps organizations of all sizes deliver better customer
service, ensure compliance, combat fraud and safeguard citizens.
Over 25,000 organizations in more than 150 countries, including
over 85 of the Fortune 100 companies, are using NICE solutions.
www.nice.com
Trademark Note: NICE and the NICE logo are trademarks or
registered trademarks of NICE Ltd. All other marks are trademarks
of their respective owners. For a full list of NICE’s marks, please
see: www.nice.com/nice-trademarks.
Forward-Looking Statements This press release contains
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Costigan are based on
the current beliefs, expectations and assumptions of the management
of NICE Ltd. (the Company). In some cases, such forward-looking
statements can be identified by terms such as believe, expect, may,
will, intend, project, plan, estimate or similar words.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause the actual results or performance of
the Company to differ materially from those described herein,
including but not limited to the impact of the global economic
environment on the Company’s customer base (particularly financial
services firms) potentially impacting our business and financial
condition; competition; changes in technology and market
requirements; decline in demand for the Company's products;
inability to timely develop and introduce new technologies,
products and applications; difficulties or delays in absorbing and
integrating acquired operations, products, technologies and
personnel; loss of market share; an inability to maintain certain
marketing and distribution arrangements; and the effect of newly
enacted or modified laws, regulation or standards on the Company
and our products. For a more detailed description of the risk
factors and uncertainties affecting the company, refer to the
Company's reports filed from time to time with the Securities and
Exchange Commission, including the Company’s Annual Report on Form
20-F. The forward-looking statements contained in this press
release are made as of the date of this press release, and the
Company undertakes no obligation to update or revise them, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190930005187/en/
Corporate Media Contact Cindy Morgan-Olson, 551-256-5202,
cindy.morgan-olson@niceactimize.com
Investors Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Yisca Erez +972 9 775 3798, CET, ir@nice.com
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