Any criminal activity with the intention of gaining something valuable through misrepresentation is termed as fraud. FDP software solutions enable organizations to detect frauds at an early stage and provide ways to prevent them. Increasing fraudulent activities related to transactions and electronic payments are driving the growing demand for FDP solutions. Predictive analytics, customer analytics, social media analytics, and behavioral analytics are some of the available FDP analytical solutions, while some authentication methods, such as Single Factor Authentication (SFA), Multi-Factor Authentication (MFA), and Governance, Risk, and Compliance (GRC) are used to detect frauds. These solutions can be applied in several other areas, such as insurance claims, money laundering, and electronic payment. FDP solutions are used in various industries, such as Banking, Financial Services, and Insurance (BFSI), retail, healthcare, government, and manufacturing.

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

The competitive landscape section analyzes the growth strategies adopted by the various key players in the FDP market. IBM, Oracle, SAP, SAS Institute, BAE Systems, FICO, ACI Worldwide, and Fiserv are recognized as some of the top players in the FDP market. This chapter also includes the MicroQuadrant matrix which provides information about 25 major players offering FDP solutions. The vendor evaluations are based on two broad categories: strength of product portfolio and business strategy excellence. Each category carries various criteria based on which the vendors have been evaluated. The evaluation criteria considered under strength of product portfolio include breadth and depth of product offering, product feature and functionality, focus on product innovation, product quality and reliability, and product differentiation and impact on customer value. The evaluation criteria considered under business strategy excellence include geographic footprint, effectiveness of organic growth strategy, channel strategy and fit, breadth of applications served, vision alignment, and mergers and acquisitions strategy. The products offered by these top players are loaded with several features and capabilities. Additionally, these players have adopted various business strategies to maintain their leading position in the FDP market.

VISIONARY LEADERS

Vendors who fall in this category generally receive high scores for most of the evaluation criteria. They have strong and established product portfolios, and a very strong market presence. They provide mature and reputable FDP solutions. They also have strong business strategies. IBM, SAS Institute, FICO, BAE Systems, ACI Worldwide, SAP, and ThreatMetrix fall in this category.

INNOVATORS

Vendors who fall in this category have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have very strong growth strategies for their overall business. NICE Systems, Experian, LexisNexis, Easy Solutions, Guardian Analytics, and Kount fall in this category.

DYNAMIC DIFFERENTIATORS

Vendors who fall in this category have very strong business strategies. However, they score low in terms of product portfolio. They generally focus on a specific type of technology related to the product. Fiserv, DXC Technology (CSC), Oracle, FIS, Visa, and Mastercard fall in this category.

EMERGING COMPANIES

Vendors who fall in this category have niche product offerings and are beginning to gain a position in the market. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and could require some more time before gaining significant market traction. Software AG, Distil Networks, Featurespace, eMcREY, FRISS, and iovation fall in this category.

Fraud Detection and Prevention Solutions Quadrant

Comparing 42 vendors in Fraud Detection and Prevention Solutions across 209 criteria.

Find the best Fraud Detection and Prevention Solutions solution for your business, using ratings and reviews from buyers, analysts, vendors and industry experts

EVALUATION CRITERIA

Below criteria are most commonly used for comparing Fraud Detection and Prevention Solutions tools.
  • Breadth and Depth of Product Offerings
    • Product Offerings
    • licenses
    • Solutions Offered
      • Fraud analytics (Predictive analytics, Customer analytics, Social media analytics, Big data analytics, Behavioral analytics)
      • Authentication (SFA and MFA)
      • GRC solutions
      • Other Solutions
    • Services
      • Professional Services
      • Managed Services
      • Consulting Services
      • Training and Support
      • Others
  • Product Features and Functionality
    • Type of Integrated Features
      • Insurance claims
      • Money laundering
      • Electronic payment
      • Mobile payment
      • Others (bank account fraud, bank card and check fraud, employee fraud, identity fraud,investment fraud, tax,inheritance and gambling frauds)
  • Delivery
    • Platform/Technology
    • Deployment Model
      • On-Premise
      • Hosted / On-Cloud
    • Delivery of Service
      • Full Time Equivalent
      • Subscription / Licensing
      • Per User / Workstation Basis
    • Channel of Delivery
      • Directly
      • Through Partners / Third-Party Vendors / MSSPs
  • Scalability
    • Number of End Users
    • End User Organization Size
  • Support and Services
    • services
      • Technical Support
      • Customer Support
      • Sales Support
      • Others, please specify
    • Pre Sales Support
      • Software Requirement Specification (SRS)
      • Product Demos
      • Proof of Concept
      • Dedicated Account Manager (DAM)
    • Channel for Delivery of Support Services
      • Remote Support
      • On-Site Support

TOP VENDORS

    • Startup
    • California, US
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
    • SME
    • Naples, Florida, United States of America
    • 1,001 to 5,000
    • Startup
    • California, US
    • Founded: 2005
    • $11MN to $50MN
    • 51 to 100
    • SME
    • California, US
    • Founded: 1997
    • $101MN to $500MN
    • 101 to 500
    • Startup
    • Ontario, Canada
    • Founded: 1984
    • Below $10 MN
    • 1 to 50
  • #

    In order to protect financial institutions from financial and reputational harm, BAE Systems provides AML compliance solutions. These solutions are used by banks, insurance companies, and law and enforcement agencies. The company also offers a solution for insurance fraud prevention named NetReveal P&C Claims Fraud solution.

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    • Enterprise
    • 501 to 1,000
    • Startup
    • Illinois, US
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
    • Enterprise
    • 501 to 1,000
    • Startup
    • California, US
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
  • #

    It comprises various technologies, such as predictive data modeling technology, identity search technology, fraud indicator business rules, company claims information, and industry data sources, to minimize losses associated with fraudulent attacks.

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    • Enterprise
    • Virginia, US
    • Founded: 2017
    • $5BN to $10BN
    • 1,00,001 to 5,00,000
    • Enterprise
    • Doral, Florida, US
    • Founded: 2007
    • 101 to 500
    • Startup
    • Matn, Mount Lebanon, Lebanon
    • Below $10 MN
    • 51 to 100
    • Startup
    • Connecticut, US
    • Founded: 2006
    • Below $10 MN
    • 51 to 100
  • #

    Experian provides an extensive product portfolio in the FDP market. The company provides fraud detection and identity management solutions and services to protect its users from fraudulent activities. The company also provides solutions across account opening fraud, application fraud, compliance, identity screening, and online fraud detection.

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    • Enterprise
    • Dublin, Ireland
    • Founded: 1996
    • $1BN to $5BN
    • 35,001 to 40,000
  • #

    FICO offers various solutions, such as FICO Enterprise Fraud and Security, FICO Retail Fraud Manager, FICO Application Fraud Manager, and FICO Falcon Fraud Manager, in the FDP market. FICO Falcon Platform for fraud management provides real-time protection to enterprises from frauds occurring through multiple payment channels.

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    • Enterprise
    • California, US
    • Founded: 1956
    • $500MN to $1BN
    • 1,001 to 5,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • Florida, USA
    • Founded: 1968
    • $10BN to $50BN
    • 50,001 to 75,000
  • #

    Fiserv is a prominent player offering financial services to SMEs and large enterprises across the globe. The company delivers risk and compliance solutions and services. Fiserv offers solutions such as Payment Fraud Manager, Fraud Risk Manager, Fraud Risk and AML Compliance Management, and Check Fraud Manager in the FDP market.

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    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Startup
    • California, US
    • Founded: 2007
    • Below $10 MN
    • 51 to 100
    • Startup
    • California, US
    • Founded: 2008
    • 101 to 500
    • Startup
    • Mountain View, CA, US
    • Founded: 2005
    • $11MN to $50MN
    • 101 to 500
  • #

    The company provides the IBM Security Trusteer Fraud Protection Suite, which includes IBM Trusteer Pinpoint Detect, IBM Security Access Manager, IBM Counter Fraud Management, and IBM Trusteer Rapport. The IBM Security Trusteer Fraud Protection Suite helps organizations and businesses to detect and safeguard themselves from fraudulent activities.

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    • Enterprise
    • 1 to 50
    • SME
    • New York, US
    • Founded: 1975
    • $101MN to $500MN
    • 1,001 to 5,000
    • Enterprise
    • 501 to 1,000
    • Startup
    • Bracknell Forest, UK
    • Founded: 1987
    • Below $10 MN
    • 51 to 100
    • Enterprise
    • 501 to 1,000
  • #

    LexisNexis offers Fraud Focus in the FDP market. LexisNexis also provides AML solutions that offer extensive screening and monitoring of the entire lifecycle of a customer.

    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
  • #

    NICE Actimize also provides authentication in fraud protection. The company has come up with real-time voice authentication that uses biometrics to identify users. The AML solutions offered by NICE Actimize are smart and cost-effective, and minimize the risks occurring due to fraudulent activities.

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    • Enterprise
    • Ra’anana, Israel
    • Founded: 1986
    • $1BN to $5BN
    • 5,001 to 10,000
  • #

    Oracle provides effective solutions such as Oracle Communications Fraud Monitor, Oracle Financial Services Anti Money Laundering, Oracle Database, Oracle Partitioning, Oracle Advanced Analytics, Oracle Active Data Guard, Oracle Fusion GRC, GRC Intelligence, Oracle Enterprise GRC Manager, and GRC Application Controls.

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    • Enterprise
    • California, USA
    • Founded: 1977
    • $10BN to $50BN
    • 1,00,001 to 5,00,000
    • Enterprise
    • Pennsylvania, US
    • Founded: 1993
    • $1BN to $5BN
    • 1,001 to 5,000
    • Startup
    • California, US
    • Founded: 2012
    • $11MN to $50MN
    • 501 to 1,000
  • #

    The solution provides users with real-time information to help organizations prevent revenue losses. The company uses predictive analytics technology in its solutions to offer better fraud management for its customers and proactively minimize fraud risks.

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    • Enterprise
    • Walldorf, Germany
    • Founded: 1972
    • More than $100 BN
    • 501 to 1,000
  • #

    The company offers fraud and security intelligence solutions to mitigate risks and fraud practices with the help of anomaly detection techniques. SAS provides fraud and security solutions that implement fraud detection techniques to gain a consolidated view of the fraud risks. SAS Fraud Framework provides solutions such as fraud data management, alert management, detection, alert generation, and case management to the government, enterprise, and BFSI sectors.

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    • Enterprise
    • North Carolina, USA
    • Founded: 1976
    • $1BN to $5BN
    • 10,001 to 15,000
    • Startup
    • New York, US
    • Founded: 2004
    • Below $10 MN
    • 501 to 1,000
    • Enterprise
    • Hessen, Germany
    • Founded: 1969
    • 1,001 to 5,000
    • Enterprise
    • Washington, US
    • Founded: 2003
    • $500MN to $1BN
    • 1,001 to 5,000
    • Enterprise
    • California, US
    • Founded: 1979
    • $1BN to $5BN
    • 10,001 to 15,000
  • #

    It provides features such as authentication, identity verification, and fraud decisioning. The company also provides Strong Customer Authentication (SCA) for its mobile users to protect them from any kind of fraud attacks and secure the transactions taking place through the mobile. The company also offers services such as professional, and training and education services in the FDP market.

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    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 1,001 to 5,000
    • Enterprise
    • 501 to 1,000

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