NICE Actimize launches multi-factor authentication solution

July 21, 2016 - 

NICE Actimize has launched Authentication-IQ, a solution that manages multiple authentication methods across financial institution channels with an integrated strategy in an effort to improve security, customer experience, and cost efficiency.

NICE Actimize’s Authentication-IQ applies advanced analytics that intuitively select the most effective authentication method to use in a specific transaction, based on the risk of fraud, consumer preference and cost efficiency.

Using Authentication-IQ, financial institutions are able to optimize authentication methods across digital channels and the contact center to ultimately mitigate recurring issues, false positives and overlapping investigations.

The solution allows these financial organizations to bridge their authentication and fraud strategies with behavioral analytics that comprehensively take into account a customer’s authentication history along with their account and transactional profiles.

“Today’s new authentication methods, from ‘selfie-recognition’ to voice biometrics, are more innovative, yet more challenging to manage than ever before,” said Erez Zohar, VP and general manager of fraud and cybercrime at NICE Actimize. “In this ever-changing environment, we help our clients provide their customers with a consistent, secure multi-channel authentication experience, while reducing our clients’ risk and optimizing their overall authentication costs.”

NICE Actimize’s Authentication-IQ is currently being deployed at several top tier, global financial institutions.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.