Using AI-enabled interpretive and predictive models and advanced voice biometrics, the new solution continuously scans millions of calls to proactively identify fraudulent behaviour and protect brand reputation
NICE (Nasdaq: NICE) has unveiled ENLIGHTEN Fraud Prevention, an innovative solution for automatic and continuous fraudster detection and exposure. Bringing together NICE ENLIGHTEN’s comprehensive customer engagement artificial intelligence (AI) platform with the company’s voice biometrics capabilities, the solution continuously scans millions of calls to accurately pinpoint suspicious behaviour and uncover previously unidentified fraudsters. Adopting a proactive approach, NICE ENLIGHTEN Fraud Prevention significantly reduces fraud losses and handling time while protecting consumers and improving their experience.
Dan Miller, lead analyst, Opus Research, said, “Contact centre fraud is growing in frequency, breadth and sophistication. NICE ENLIGHTEN Fraud Prevention stands out as an integrated, pre-emptive AI-based fraud prevention solution that actively prevents malicious activities with minimum additional effort from customers.”
Unlike most technologies that focus on a single call, NICE ENLIGHTEN Fraud Prevention includes powerful AI interpretive and predictive models that scan millions of voice interactions over time to detect abnormal, risky behaviour including requests to change addresses or authentication methods without relying on agents to manually capture dispositions. NICE’s Proactive Fraudster Exposure voice biometrics capability included within the solution is then used to expose perpetrators and create a ranked and prioritised list of suspected fraudsters. Importantly, the solution is self-training, constantly learning from identified behaviours, continuously updating its AI models and thus consistently improving results. With this novel solution, organisations can protect customers from account takeover and prevent exposure of personally identifiable information, reduce fraud losses, optimise fraud analyst team efficiency and safeguard brand loyalty.
Barry Cooper, president, NICE Enterprise Group, said, “We are proud to bring yet another market-first offering with NICE ENLIGHTEN Fraud Prevention. NICE ENLIGHTEN is NICE’s AI platform with models specific to the customer engagement domain. A number of solutions across our portfolio are being infused with AI from NICE ENLIGHTEN including our Proactive Fraudster Exposure solution. NICE ENLIGHTEN Fraud Prevention ensures that fraudsters are rapidly and proactively stopped in their tracks so organisations can protect their customers and their brand. We believe that by bringing AI to Fraud Prevention we provide organisations with the agility that makes it even more difficult for the fraudsters to win.”