FICO Falcon Platform vs Nice Actimize Fraud & Authentication Management comparison

FICO and NICE are both solutions in the Fraud Detection and Prevention category. FICO is ranked #3 with an average rating of 8.5, while NICE is ranked #1 with an average rating of 8.4. FICO holds a 9.1% mindshare in FDP, compared to NICE’s 5.5% mindshare. Additionally, 100% of FICO users are willing to recommend the solution, compared to 94% of NICE users who would recommend it.

FICO Falcon Platform

Read 2 FICO Falcon Platform reviews

1,802 Views
1,074 Comparison Views

100% willing to recommend

Nice Actimize Fraud & Authe...

Read 17 Nice Actimize Fraud & Authentication Management reviews

2,553 Views
784 Comparison Views

94% willing to recommend

FICO Falcon Platform

Nice Actimize Fraud & Authe...

Comparison Buyer's Guide

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Executive Summary

We performed a comparison between FICO Falcon Platform and Nice Actimize Fraud & Authentication Management based on real PeerSpot user reviews.

Find out in this report how the two Fraud Detection and Prevention solutions compare in terms of features, pricing, service and support, easy of deployment, and ROI.

To learn more, read our detailed FICO Falcon Platform vs. Nice Actimize Fraud & Authentication Management Report (Updated: October 2024).

Buyer's Guide

FICO Falcon Platform vs. Nice Actimize Fraud & Authentication Management

October 2024

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Helped 816,660 peers since 2012

Categories and Ranking

FICO Falcon Platform

Ranking in Fraud Detection and Prevention

3rd

Average Rating

8.6

Number of Reviews

Ranking in other categories

No ranking in other categories

Nice Actimize Fraud & Authe...

Ranking in Fraud Detection and Prevention

1st

Average Rating

8.2

Reviews Sentiment

6.8

Number of Reviews

Ranking in other categories

No ranking in other categories

Mindshare comparison

As of November 2024, in the Fraud Detection and Prevention category, the mindshare of FICO Falcon Platform is 9.1%, up from 7.3% compared to the previous year. The mindshare of Nice Actimize Fraud & Authentication Management is 5.5%, down from 6.0% compared to the previous year. It is calculated based on PeerSpot user engagement data.

Fraud Detection and Prevention

Featured Reviews

Lester Ayllon

Senior Systems Analyst at Itau Unibanco S.A.

It can set rules to identify suspicious activity at each point of sale during every transaction

I previously worked at Santander Bank FICO and Oracle. It was only about six months. FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until now. Our solution here in Brazil doesn't work for Europe, Africa, the USA, Canada, or Mexico. It's unique to Brazil and designed based on the transaction patterns of people living here. FICO has all the information on our transactions, and the logs of old transactions are on the central server. It's the same for other banks like Fordesco, Santandar, CitiBank, etc. All these banks send their transactions to the server, and FICO Analytics uses all the information about transactions in Brazil to build a model.

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Jahnavi Koppala

Actimize Developer at Infosys

A good designer for the UI, stable, and scalable

I give the solution a ten out of ten. Unlike other technologies, Nice Actimize Fraud & Authentication Management is partially pre-built, making it easy to understand what needs to be done and how to complete the work. Furthermore, due to the pre-existing code, there is no need to start from scratch, providing a better understanding of the current situation and what needs to be implemented. Our organization moved to Nice Actimize Fraud & Authentication Management because the solution is an upgraded version and also it provides many benefits as we can easily activate rules. Nice Actimize Fraud & Authentication Management is very convenient and it provides easy access to everything. When utilizing the solution for the first time, always start with a lower environment such as a development environment. Only use Dell and SIT, and do not go directly to production. The solution may have an impact on the bank and large transactions.

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Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:

Pros

"It can make real-time decisions or real-time declines."

"FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until now."

"The most valuable feature is automation which makes our transaction capture 40 percent easier."

"It's a very good case management system."

"The core engine seems to be better than the rest for pattern recognition. It is able to process large amounts of data."

"The solution loads big data efficiently and quickly."

"I like the tracking methodology. Though it was implemented on-premises, the compliance is compatible with it. It will have certain modifications with RPM and APR. It has good exposure from a compliance point of view."

"The case management tool is user friendly."

"I like the score generated on the Actimize platform for each customer transaction. Those are transactions per second, accommodating millions of transactions per second. That's the best feature of Actimize."

"They have a very expansive transaction monitoring fleet. They have a lot of models and rules to choose from. Its flexibility or ability to customize a model is very impressive as compared to other platforms."

More Nice Actimize Fraud & Authentication Management pros

Cons

"I've had bad experiences with FICO support. At the bank, we've faced critical problems where we only had minutes to find the solution, and it's hard to explain quickly. We contacted FICO, but they told us it was beyond their scope of support. They try to triage the call by asking us how much money we're losing, but I can't go into that."

"When setting up rules or parameters, some coding is required, and the learning curve is quite steep."

"Could include additional customization"

"Processes don't function when front end is down."

"The solution needs to mitigate and provide an update for one listener process that keeps failing."

"This solution is unnecessarily complex."

"Licensing costs are high compared to other products in the market."

"It has become too complex for its own good with a lot of versions. They are trying to do too much. Instead of keeping it sort of traditional and keeping the core search engine as a standalone and having analytical bolt-ons, they have decided to jam it all into the same product, which made the product overly complex and difficult to implement."

"From the front end side, the UI is definitely user-friendly. It is highly compatible as long as the reading is at the coding point of view. But it can't provide certain high coding. When a person clicks on any kind of scenario or alert, I would like to have a metadata help menu."

"I would say — Actimize is not being moved forward by Nice."

More Nice Actimize Fraud & Authentication Management cons

Pricing and Cost Advice

"The functionality is fine, but the price is getting more expensive."

"FICO is one of the best fraud detection platforms. However, a small bank might find it too expensive. In that case, I would agree it's probably not worth it. However, it's a no-brainer if your bank has 50 million accounts and 7 million credit card transactions daily."

"I don't know how licensing is handled in the current organization. I know that Actimize provides an option for yearly licensing because that's what we had in my previous job."

"It is reasonable for enterprise customers."

"Nice Actimize Fraud & Authentication Management is an expensive product."

"I don't like the length of our vendor contracts because it kills our flexibility."

"We need a separate license for each of the packages, such as the core package, self-development package, and customization package."

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816,660 professionals have used our research since 2012.

Top Industries

By visitors reading reviews

Financial Services Firm

38%

Computer Software Company

17%

Government

Manufacturing Company

Financial Services Firm

40%

Computer Software Company

Manufacturing Company

Energy/Utilities Company

Company Size

By reviewers

Large Enterprise

Midsize Enterprise

Small Business

No data available

Questions from the Community

What do you like most about FICO Falcon Platform?

FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until ...

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What is your experience regarding pricing and costs for FICO Falcon Platform?

It is expensive.

See all answers

What needs improvement with FICO Falcon Platform?

FICO users are business users, not developers. When setting up rules or parameters, some coding is required, and the learning curve is quite steep. This is a disadvantage of FICO. Additionally, the...

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What is your experience regarding pricing and costs for Nice Actimize Fraud & Authentication Management?

The solution is reasonable for enterprise customers.

See all answers

What is your primary use case for Nice Actimize Fraud & Authentication Management?

We use the solution as an anti-money laundering application to monitor financial crimes.

See all answers

What do you like most about Nice Actimize Fraud & Authentication Management?

The solution's technical support is good.

See all answers

Comparisons

SAS Fraud Management vs FICO Falcon Platform

Compared 31% of the time

ThreatMetrix vs FICO Falcon Platform

Compared 20% of the time

IBM Safer Payments vs FICO Falcon Platform

Compared 12% of the time

Featurespace ARIC Fraud Hub vs FICO Falcon Platform

Compared 11% of the time

BAE Systems NetReveal vs FICO Falcon Platform

Compared 5% of the time

More FICO Falcon Platform Competitors

BAE Systems NetReveal vs Nice Actimize Fraud & Authentication Management

Compared 21% of the time

Verafin Fraud Detection and Management vs Nice Actimize Fraud & Authentication Management

Compared 15% of the time

Featurespace ARIC Fraud Hub vs Nice Actimize Fraud & Authentication Management

Compared 13% of the time

IBM Safer Payments vs Nice Actimize Fraud & Authentication Management

Compared 13% of the time

ThreatMetrix vs Nice Actimize Fraud & Authentication Management

Compared 12% of the time

More Nice Actimize Fraud & Authentication Management Competitors

Product Reports

Buyer's Guide

Fraud Detection and Prevention

November 2024

Download FICO Falcon Platform product report

Buyer's Guide

Nice Actimize Fraud & Authentication Management

November 2024

Nice Actimize Fraud & Authentication Management report

Download Nice Actimize Fraud & Authentication Management product report

Also Known As

Falcon Platform

Actimize, NICE Actimize, Nice Actimize Fraud and Authentication Management)

Learn More

FICO

NICE

Overview

Consumer banking preferences are changing - fast. Customers want to transact how and when they choose, without latency. They want a banking relationship that’s 100% convenient and 100% secure. The FICO Falcon Platform, the world’s most intelligent fraud platform, advances the consumer experience by extracting frauds from real time payment streams while remaining invisible during legitimate transactions.

With over 70 patents in fraud-specific machine learning and AI, the FICO Falcon Platform helps financial institutions detect and prevent fraud seamlessly, in real time, all while improving the bottom line and advancing the consumer experience.

The FICO Falcon Platform allows you to score transactions, across a rapidly expanding array of payment options, and understand customer behavior patterns so you can intelligently prevent and monitor suspicious and fraudulent behavior.

Delivers real-time, customer-centric fraud prevention that supports a holistic, enterprise-wide fraud management program.

Sample Customers

Information Not Available

Associated Banc-Corp

Buyer's Guide

FICO Falcon Platform vs. Nice Actimize Fraud & Authentication Management

October 2024

Free Report: FICO Falcon Platform vs. Nice Actimize Fraud & Authentication Management

Find out what your peers are saying about FICO Falcon Platform vs. Nice Actimize Fraud & Authentication Management and other solutions. Updated: October 2024.

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We monitor all Fraud Detection and Prevention reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. We validate each review for authenticity via cross-reference with LinkedIn, and personal follow-up with the reviewer when necessary.