NICE Actimize, a NICE (Nasdaq: NICE) business today announced that its IFM-X Mule Defense solution has been selected as the winner of the “Fraud Prevention Innovation Award” by FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global FinTech market today. The Mule Defense solution leverages the power of NICE Actimize’s IFM-X industry-leading enterprise fraud management platform that delivers advanced fraud detection capabilities powered by artificial intelligence and machine learning.
The FinTech Breakthrough Awards is the premier awards program founded to recognize FinTech innovators, leaders and visionaries from around the world in a range of categories, including Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2023 FinTech Breakthrough Awards program attracted more than 4000 nominations from across the globe.
“While our industry awards continued to be highly competitive in the fraud category, NICE Actimize’s Mule Defense solution demonstrated a truly breakthrough approach supported by its previous FinTech Breakthrough award-winning IFM-X enterprise fraud platform,” said James Johnson, Managing Director, FinTech Breakthrough. “We are once again honored to recognize NICE Actimize as a leading innovator. Congratulations to the NICE Actimize team for this well-deserved recognition.”
“Leveraging the power of our enterprise fraud management platform IFM-X, NICE Actimize has invested in the Mule Defense solution that utilizes deep learning models and purpose-built expert features to detect mule activities across multiple event types and channels in real-time,” said Craig Costigan, CEO, NICE Actimize.
NICE Actimize’s IFM-X Mule Defense solution is designed to detect, investigate and prevent mule account activity occurring throughout the entire customer lifecycle for both existing customers and new accounts. This solution is designed to identify money mules that may either unwittingly be involved in fraudulent transactions or are directly complicit in irregular money movements.
This award marks the fourth win for NICE Actimize in FinTech Breakthrough’s Fraud Innovation category, including previous awards for its advanced IFM-X platform and its New Account Fraud solutions.
