ActimizeWatch FraudSolution Overview

ActimizeWatch is a cloud-based managed analytics service, which continuously monitors fraudster behavior and model performance. ActimizeWatch proactively optimizes Actimize fraud models, when needed. with minimal impact on on-premises resources at a Financial Institution (FI). 

As a managed analytics service, ActimizeWatch extends your fraud and authentication management teams with fraud experts and data scientists, working with your data in agile machine-learning monitoring and optimization environment. The benefit is analytics agility that provides better detection and enables fraud teams to better support business innovations in a rapidly evolving payments market. 

ActimizeWatch is made up of a few core service components:  

• Analytics Monitoring and Reporting: ActimizeWatch users continuously send anonymized transactional and event data, without any PII, from their production environment to the Actimize Cloud. The service provides insights and intelligence on this data, including data patterns, fraud trends, and model performance.  
• Monthly Consultation Meetings: Every month FI’s meet with ActimizeWatch fraud subject matter experts and an ActimizeWatch data scientist to receive insights on their data and on trends across the industry, and to discuss FI-specific recommendations.  
• Machine Learning-Based Model Optimizations: When needed, ActimizeWatch updates models uniquely for an individual FI, based on their data and fraud patterns, for improved detection and false positive rates. These updates include new analytics features and recalibration of thresholds and parameters for NICE Actimize’s industry leading library of fraud detection features. Additionally, machine learning is used for selection of the final model scoring algorithm.  
• The ActimizeWatch Consortium: ActimizeWatch leverages data from across member FIs for improved insights. ActimizeWatch members receive a market-wide view on shifting fraud patterns. Additionally, the consortium view allows ActimizeWatch to quickly push out analytic features to mitigate significant new fraud patterns even before they hit any individual FI.