NICE Actimize, a division of NICE, has launched Xceed AI agents to enhance its artificial intelligence (AI) powered Xceed AI FRAML solutions, with an aim to streamline fraud detection and financial crime prevention.
According to NICE, these agents work alongside human analysts, continuously adapting to emerging threats while focusing on key areas such as anti-money laundering (AML), fraud detection, and regulatory compliance. The integration of AI and human expertise is intended to improve the efficiency and effectiveness of financial crime prevention, said the Nasdaq-listed firm.
Xceed AI agents are embedded within workflows to identify new risks and alleviate operational pressures. Their functions include automating routine processes, enhancing detection capabilities, and aiding in decision-making alongside human analysts.
These agents leverage Xceed AI’s knowledge in fraud and financial crime to optimise key workflows like alert triage, backlog categorisation, and high-risk case summarisation.
They offer features that are intended to enhance analyst workflows, reduce false positives, and provide context-based recommendations for more effective management of fraud and financial crime.
The specialised functionalities of NICE Actimize’s Xceed AI agents include enabling FRAML transformation through machine learning and integrated financial intelligence for rapid threat detection at the transactional level.
The agents also optimise alerts through AI-driven processes by streamlining operations with automation of tasks such as triage and case summarisation. They support collaborative AI investigations by refining detection models and offering actionable insights while maintaining analyst oversight.
Additionally, they minimise false positives through advanced segmentation for precise monitoring and boost analyst productivity by assisting in multi-step investigations with CoPilot tools for informed decision-making.
The Xceed AI FRAML platform by NICE Actimize is powered by advanced technologies including AI, machine learning, and generative AI, consolidating fraud detection and AML compliance into a unified SaaS solution.
This platform is designed to facilitate efficiency, enabling institutions to stay ahead in fraud prevention while allowing analysts to concentrate on high-value decisions and ensuring compliance with regulatory standards.
NICE Actimize CEO Craig Costigan said: “Bad actors are not only exploiting the accessibility of modern banking but also leveraging AI and generative AI to accelerate and enhance the sophistication of their schemes.
“This has dramatically increased the pace and complexity of detecting fraud and financial crime, leaving financial institutions (FIs) overwhelmed by rising alert volumes and false positives.
“Xceed AI agents represent a new paradigm for financial institutions empowering them to think bigger, act faster, and stay ahead of the curve in a world that demands constant vigilance and adaptability.”
