NICE Actimize, a NICE business and a provider of financial crime, risk, and compliance software platform for the financial services industry, announced the launch of Authentication-IQ, a solution that manages multiple authentication methods across financial institution channels with a unified strategy, enhancing both security and customer experience while improving cost efficiency.

Today, financial institutions invest in a wide range of disruptive authentication technologies to better protect their channels while producing smoother customer transactions. Yet when these solutions work in siloes, they often result in an inconsistent customer experience, unnecessary authentication challenges, and increased operational overhead.

NICE Actimize’s Authentication-IQ tackles these issues by applying advanced analytics that dynamically decide the best authentication method to leverage in a given transaction, based on the risk of fraud, consumer preference and cost efficiency. The solution allows financial institutions to optimize authentication methods across digital channels and the contact center, reducing excessive challenges, false positives and overlapping investigations.

Authentication-IQ allows financial service organizations to bridge their authentication and fraud strategies with behavioral analytics that holistically consider a customer’s authentication history along with their account and transactional profiles.