NICE Picks Up Fraud Prevention Prize From UK Insurance Industry

NICE walked away with the top prize in the ‘Fight Against Fraud’ category at the UK Customer Service Excellence Awards. The Awards were established in 2018 to celebrate leading customer-facing applications in the insurance and broker industries, and are presented in association with Modern Insurance Magazine.

NICE was recognized for its extensive anti-fraud portfolio, which includes its flagship Real-Time Authentication (RTA) solution. NICE RTA is designed for call centers, and uses voice biometrics to verify the identities of customers based on only a few seconds of natural conversation.

The NICE portfolio also includes Enlighten Fraud Prevention, Proactive Fraudster Exposure, and Real-Time Fraud Prevention products. Enlighten debuted in November, and uses voice biometrics to track fraudulent behavior and build profiles of repeat offenders over time. Once a fraudster’s voice has been identified, it will be added to a watchlist of known fraudsters and will automatically be blocked when they call in again. The solution allows companies to mitigate the threat of fraud while removing friction for legitimate customers.

“We innovate to ensure that our solutions stay on the cutting edge of technology to help customers easily authenticate their user base and safeguard them against increasingly sophisticated fraud attempts,” said NICE EMEA President John O’Hara. “We are pleased to receive this accolade which we see as a clear reflection of our customers’ feedback.”

“We believe NICE’s RTA and Fraud Prevention suite is an important avenue for combatting fraud in the insurance and financial services industries and we applaud their win,” added Modern Insurance Magazine Editor Poppy Green.

NICE’s RTA solution has proven to be popular in the financial industry. Alfa-Bank Russia is one of the company’s most recent clients, deploying the solution in October after first announcing its intentions back in May. NICE has also provided RTA security for Permata Bank in Indonesia and an unnamed domestic bank in Vietnam.

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February 22, 2021 – by Eric Weiss