Nearly 61 percent of FSOs surveyed will invest
in an omni-channel authentication orchestration solution in the
next 12-18 months
NICE Actimize, a NICE (Nasdaq:NICE) business, has
released a joint survey with PwC today which outlined the state of
omni-channel authentication strategies at financial services
organizations (FSOs), observing that only 28 percent of FSOs have
fully implemented cross-channel authentication management. Though
FSOs continue to invest in a wide range of authenticators, the
survey found that a lack of a unified strategy to manage
authentication methods across channels resulted in poor customer
authentication experience and less effective fraud reduction
strategies.
Titled “Omni-Channel Authentication: A Unified Approach to a
Multi-Authenticator World,” the joint NICE Actimize-PwC survey
finds that 63 percent of respondents from FSOs are assessing
current authentication strategies to identify where there may be
gaps or requirements for further investments in omni-channel
authentication. The survey showed that only 30 percent of the
surveyed organizations have completed that assessment to date. As a
result of these strategic organizational reviews, 61 percent will
invest in an omni-channel authentication solution within the next
12-18 months, according to the survey.
Customer Authentication Experience Drives Investment
Driving the omni-channel authentication investment, a strong 83
percent of fraud management teams singled out a frictionless
customer authentication experience as a key central driver behind
their efforts.
“This strong trend toward investment in omni-channel
authentication by leading financial services organizations is not
surprising,” explains Vikas Agarwal, Principal, PwC.
“Traditionally the customer authentication experience has been
cumbersome, in large part due to a lack of unified authentication
management. In an age of authentication innovation, consumers want
preferences in authentication type. But with many disparate
authenticators in play, users face inconsistent experiences in each
channel and lengthy and excessive challenges.”
Analytics for Faster Payments
“As FSOs invest in innovative and diverse authentication
methods, they will also seek an orchestration strategy which uses
sophisticated analytics to make real-time challenge decisions,
which reduce friction for consumers, while keeping them safe from
fraudsters. This of course will be especially necessary with the
rise of faster payments where authentication is the first line of
defense,” said Joe Friscia, President, NICE Actimize. “NICE
Actimize offers innovations that meet the requirements of today’s
omni-channel authentication management environment.”
The 65 subject matter expert respondents represented a global
view, with 38 percent serving in active roles in Europe, 20 percent
in North American, 13 percent in Asia Pacific and 14 percent
claiming other global roles. More than half of the respondents
represented retail banking and the rest were spread evenly across
corporate and private banking enterprises. About one-third of the
respondents were responsible for fraud prevention, while one third
were responsible for digital transformation and customer
experience.
The survey respondents also represented a range of financial
services organization sizes. About 25 percent of the institutions
surveyed represented global Tier 1 organizations with assets
greater than $500 billion, while 26 percent represented firms with
assets below $10B, the remaining 49 percent were spread equally
across mid-tier organizations.
For a copy of the white paper that includes the results of this
study, please click here.
Qualified media outlets may obtain full research results by
contacting cindy.morgan-olson@niceactimize.com.
About PwCAt PwC, our purpose is to build trust in society
and solve important problems. We're a network of firms in 158
countries with more than 236,000 people who are committed to
delivering quality in assurance, advisory and tax services. Find
out more and tell us what matters to you by visiting us
at www.pwc.com.
About NICE ActimizeNICE 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 NICENICE (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: Actimize, the Actimize logo, NICE and the NICE
logo are trademarks or registered trademarks of NICE Ltd. and/or
its subsidiaries. All other marks are trademarks of their
respective owners. For a full list of NICE's marks, please see:
http://www.nice.com/nice-trademarks.
Forward-Looking StatementsThis 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. Friscia and Mr.
Agarwal, 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: http://www.businesswire.com/news/home/20171026005659/en/
Press Contact:Cindy Morgan-Olson, +1-551-256-5000NICE
Actimizecindy.morgan-olson@niceactimize.comorInvestors:Marty
Cohen, +1-551-256-5354ir@nice.comorYisca Erez, +972-9-775-3798NICE
Ltd.ir@nice.com
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