NICE Actimize is a fraud detection solution, acquired and now supported by Nice Systems since 2007.
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Riskified
Score 8.0 out of 10
Enterprise companies (1,001+ employees)
Riskified, headquartered in Tel Aviv, helps businesses to realize the potential of eCommerce by making it safe, accessible, and frictionless. Their eponymous platform allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits from a global merchant network, the platform identifies the individual behind each online interaction, helping merchants eliminate risk and uncertainty.
If you're looking for an End to End fraud solution you should definitely consider Actimize Integrated Fraud Management. Actimize providing great support during implementation process. And i believe both Operations And Analytics teams will find this system very friendly and useful
It's a great platform if you want an accurate and hand-off solution for managing fraudulent chargebacks. It returns binary response (i.e. either Approved or Declined) and it strikes a great balance between filtering out majority of fraud and not impacting real customers.
Collaboration; Riskified builds strong relationships with their clients and works to always meet the clients' needs
Ascend; This is a great way for Riskifieds clients to meet, collaborate and learn from each other
Innovations; Riskified puts a huge emphasis on listening to their clients and finding a way to meet their needs, whether it's chargeback related, fraud screening related or abuse related.
Missing functionality/ explanation: not having full understanding why some orders with multiple "red flags" are accepted/approved by Riskified
Missing functionality: It would be great if there was an option to resubmit an order after approving a second look (so that the customer doesn't have to place a second order)
The support I've received isn't always uniform (sometimes the agent will ask me to provide additional information about an order, sometimes they won't. It seems to be random?)
We are likely to renew our use of Riskified. Their solution has become a critical component of our fraud prevention strategy and day-to-day operations. The combination of increased approval rates, reduced chargeback risk, and operational efficiency has delivered consistent value. Additionally, their collaborative approach and alignment with our customer experience goals reinforce our confidence in continuing the partnership long term.
Product is continuously optimized by the end user/customer and in line with banking applications as the go-to place. Also, KYC and AML work is key in this area which NICE Actimize offers. And DataIQ is a good offering with data intelligence helping to deal with the intelligence automation and AI trends.
It's very easy to use. When an interaction is declined, there's reasoning located on the right side of the screen. It's incredibly easy to use Single-Sign-On to log into the account, and explaining that to new team members is very easy. The process for adding new team members is easy and the FAQ's are very helpful.
As I mentioned, one of Riskified’s key competitive advantages is their genuine willingness to understand our business and build an empathetic relationship with us. Today, for example, we met with the new Sales Director to share how our relationship started, how it has evolved, what could be improved to better support other companies in the same sector, and what we see as their biggest weakness.
As a fraud prevention consultant i worked both with Actimize IFM And Fico Falcon. For Card Fraud (debit/credit) Falcon has an advantage, but on the end to end fraud Actimize is a better investment.
I would say that the main difference between Riskified and Signifyd is the level of client service, which drives success in other aspects. We did not have a dedicated account manager with Signifyd, so there was no one to deal with issues. Signifyd's billing is also very messy, and we found that they did not reimburse us for a significant amount of chargebacks. Riskified's billing is easy to reconcile, and we've never had that issue.
Since implementing and working with Riskified we have seen a steady decrease in our fraud losses on our e-commerce orders. Riskified is able to quickly adjust its models to mitigate new trends
By eliminating the need to "challenge" orders we have been able to save on staffing needed for manual review and we have seen a decrease in callback rates for our fraud reviewed orders.
