NICE Actimize, a NICE company, recently launched its advanced X-Sight Entity Risk SaaS solution, an innovative solution that generates a single risk score that allows a financial institution to better understand its clients across the enterprise. X-Sight Entity Risk improves the efficacy of advanced anti-money laundering, enterprise fraud prevention, and other financial services applications by combining artificial intelligence, machine learning, entity resolution, and network analytics.
Craig Costigan, CEO, NICE Actimize, said, “Financial services organizations are placing greater emphasis on expanding a risk-based approach to fighting financial crime. Serving this need with pioneering technology, the breakthrough, AI-powered X-Sight Entity Risk solution provides an unparalleled ability to access true and transparent business intelligence around customers and entities.”
The X-Sight Entity Risk solution from NICE Actimize collects data intelligence from a variety of sources to ensure that an entity profile is always up to date, and analyses entity networks and behaviors to generate a single entity trust score that informs detection and prevention systems, allowing them to be more precise in their analysis. Furthermore, continual learnings from fraud prevention, detection, and investigation outcomes strengthen the profile and score, ushering in the era of linked intelligence — a game-changer in the battle against financial crime.
The solution identifies hidden hazards and delivers a fully transparent view of entities across the whole company, thanks to a potent blend of AI, machine learning, and automation. This enables businesses to transition from reactive to proactive risk management while expanding their operations.
X-Sight Entity Risk connects the dots throughout a financial institution and is compatible with other NICE Actimize solutions as well as third-party solutions. Adaptive and flexible, X-Sight Entity Risk improves the effectiveness of end-to-end enterprise fraud solutions while expanding entity-centric AML capabilities. Furthermore, because it is powered by the cloud, X-Sight Entity Risk can execute analytics extremely quickly, providing faster access to risk scoring data while also increasing efficiency.