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Any criminal activity with the intention of gaining something valuable through misrepresentation is termed as fraud. Fraud Detection 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. Fraud Detection Software 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 Fraud Detection Software market. IBM, Oracle, SAP, SAS Institute, BAE Systems, FICO, ACI Worldwide, and Fiserv are recognized as some of the top players in the Fraud Detection Software 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 Fraud Detection Software 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 Fraud Detection Software 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.

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Best Fraud Detection Software

Comparing 41 vendors in Fraud Detection Software across 127 criteria.
  • 4.17

    The company provides the IBM Security Trusteer Fraud Protection Software 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
    • New York, USA
    • Founded: 1911
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 3.96

    SAS offers fraud and security intelligence solutions to mitigate risks and fraud practices with the help of anomaly detection techniques. SAS provides fraud and security softwares that implement fraud detection techniques to gain a consolidated view of the fraud risks. SAS Fraud Detection Software 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
  • 3.81

    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, USA
    • Founded: 1956
    • $500MN to $1BN
    • 1,001 to 5,000
  • 3.7

    BAE Systems provides AML compliance solutions to protect financial institutions from financial and reputational harm. 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
    • London, UK
    • Founded: 1999
    • $10BN to $50BN
    • 75,001 to 1,00,000
  • 3.47

    ACI Worldwide has developed practical solutions to implement customer-centric financial crime management. Most financial institutions have to face considerable risks in technical malware, vishing, whaling, and hacking, etc. ACI helps prevent this by keeping track of all activities within the institution. The company works for fraud detection and prevention on online and offline level enterprises and also provides compliance solutions.

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    • Enterprise
    • Florida, USA
    • Founded: 1975
    • $1BN to $5BN
    • 1,001 to 5,000
  • 3.0

    The SAP Fraud Detection Software 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
    • Weinheim, Germany
    • Founded: 1972
    • $10BN to $50BN
    • 75,001 to 1,00,000
  • 2.98

    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
  • 2.9

    NICE Actimize 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
    • Central District, Israel
    • Founded: 1986
    • $1BN to $5BN
    • 1,001 to 5,000
  • 2.9

    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
    • California, USA
    • Founded: 1996
    • $1BN to $5BN
    • 15,001 to 20,000
  • 2.69

    Fraud detection software by DXC technology combines 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, USA
    • Founded: 2017
    • $5BN to $10BN
    • 1,00,001 to 5,00,000
  • 2.66

    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.

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    • Enterprise
    • New York, USA
    • Founded: 1970
    • $1BN to $5BN
    • 10,001 to 15,000
  • 2.63

    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
    • Wisconsin, USA
    • Founded: 1984
    • $10BN to $50BN
    • 20,001 to 25,000
  • 2.38
    2 Reviews

    Guardian Analytics provides products for fraud Detection, fraud Analytics and AML. It studies the fraudsters’ techniques and remain a step ahead of them. The only company to protect 100% of users and account holders against all types of threats and frauds and also learns from the attacks to be more advanced. Other solutions include account takeover detection, reconnaissance, and fraud set-up activity that indicate possible criminal activity in the early stages of an attack.

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    • SME
    • California, USA
    • Founded: 2005
    • $11MN to $50MN
    • 101 to 500
  • 2.37

    Easy Solutions has become Cyxtera which has acquired significant experience to become an established company when it comes to adequate protection against all kinds of frauds. It has specialized in various components including digital threat protection, multi-factor authentication and mobile fraud protection along with giving you safe browsing for any environment. It has also made provisions for uninterrupted monitoring for transactions and logins to point at any threat entering the system.

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    • SME
    • Florida, USA
    • Founded: 2007
    • Below $10 MN
    • 101 to 500
  • 2.34

    MASTERCARD has invented a fraud detection software to resist the financial loss of their clients. Nowadays, the major part of the monetary exchange is dependent on online fund transfer. There are numerous individuals who havoc other people’s property illegally. Multiple organizations and people in business nowadays face severe problems regarding monetary safety. MACARDSTER has launched an identity recognizing tool, dependent on EMV 3 D specification to resist online financial fraudulent.

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    • Enterprise
    • New York, USA
    • Founded: 1966
    • $10BN to $50BN
    • 10,001 to 15,000
  • 2.3

    Fidelity Information Services on FIS works against fraudulent activities by real-time monitoring, robust and useful intervention tools. It provides account and card monitoring solutions that alert the customers and the teams working at fraud detention so that the company incurs minimum losses by lowering your liability. Thereby all transactions are authenticated, and the environment is secure for smoother business.

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    • Enterprise
    • Florida, USA
    • Founded: 1968
    • $10BN to $50BN
    • 50,001 to 75,000
  • 2.24

    VISA has launched plentiful materials to help people to secure their debit and credit cards from frauds. Recently, VISA has brought a new tool to block the treats by scams. It will help to transact money securely and will add reliability to the ecosystem of the method of payment. This technological software named eCommerce threat disruption scans the front part of online commercial websites and detects malware promptly.

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    • Enterprise
    • California, USA
    • Founded: 1958
    • $10BN to $50BN
    • 15,001 to 20,000
  • 2.2

    Kount has become a professional leader by providing some of the most advanced fraud detection software. They have sustained robust policies, smart business intelligence tools and machine learning in supervised as well as unsupervised forms. They have an effective case-management and investigation system. Kount has made special units for Fraud Prevention in Payments, New Accounts and Account Takeovers.

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    • SME
    • Idaho, USA
    • Founded: 2007
    • $11MN to $50MN
    • 101 to 500
  • 2.07
    2 Reviews

    Distil’s holistic approach provides the most visibility and control over human, good bot, and bad bot traffic. The company’s vigilant service, superior technology, and industry expertise provides customers with unprecedented protection from automated threats—without affecting the flow of  essential business traffic.

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    • Startup
    • California, USA
    • Founded: 2011
    • $11MN to $50MN
    • 101 to 500
  • 2.07

    eMcREY works proactively with clients to defend their assets against hacking, malware, and fraud, giving them the confidence to focus on opportunities rather than threats. The capabilities encompass card fraud detection, neural networks, risk rules engines, behavioural scoring and both real-time and post-authorisation.

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    • SME
    • Mount Lebanon, Lebanon
    • Founded: 2006
    • Below $10 MN
    • 51 to 100
  • 1.97

    Software AG is one of the trusted names for IoT, analytics, independent integrating and process software solutions for enterprises. Fraud detection software by Software AG helps enterprises with real-time metrics and big data records to combat fraud and reduce time-to-detection. Built on Complex Event Processing; the fastest CEP engine, the software allows companies to decrease the missed transactions up to 0.005%, and fight against scams of millions of dollars every year.

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    • Enterprise
    • Hessen, Germany
    • Founded: 1969
    • $500MN to $1BN
    • 1,001 to 5,000
  • 1.9

    Featurespace has worked on machine learning technologies to help detect frauds in banks among various countries and has stood out as a prominent leader in the field. Machine learning as a tool is employed to monitor all the profiles made by customers in real-time and detect any anomalies possible over different transactions. Any financial risks are significantly reduced, and transaction frauds are also limited.

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    • SME
    • Cambridgeshire, UK
    • Founded: 2008
    • $51MN to $100MN
    • 101 to 500
  • 1.72

    FRISS entirely concentrates on automated risk and fraud detection software for all the insurance organizations of the world. The artificial intelligence of FRISS resolves the underwriting issues and alleges. SIU of FRISS supports the organization to develop the business. It alleviates financial threats. The transformations which are based on digital methods are assisted by FRISS worldwide. FRISS offers the subscribers robust security, excellent consumer experience, business growth, and financial profit altogether.

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    • SME
    • Utretch, Netherlands
    • Founded: 2006
    • Below $10 MN
    • 101 to 500
  • 1.68

    Iovation has produced various methods to stop crimes the moment a new device attempts a connecting to your site. Real-time tracking helps to prevent fraud as soon as possible. An active community of analysts keeps a tab on all activities which are tracked through various devices and thereby, provides a full-proof mechanism against crimes and frauds to happen. There are a variety of tools and resources offered, which can increase the level of security and reduce the chances of losses in your company.

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    • SME
    • Oregon, USA
    • Founded: 2004
    • $51MN to $100MN
    • 101 to 500
  • 6Sense is a trusted account-based management platform that helps an organization to unleash customer behaviors, buying patterns, priorities, demands in the market. Utilizing the power of AI, ML and big data for fraud prevention and detection, 6Sense empowers enterprises with research and analytics through account-based buying journey of customers so that they get to increase opportunities for business expansion.

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    • Startup
    • California, USA
    • Founded: 2013
    • $11MN to $50MN
    • 101 to 500
  • AgilOne is among the leading companies offering customer data platform for enterprises across the world. The platform allows getting a single view of clients covering all channels along with the predictive models to get real-time APIs, and customer behaviors. AgilOne's high performing configuration platform provides unique business data, metadata and scripting to easily access the entire system for analysis and predictions.

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    • SME
    • California, USA
    • Founded: 2006
    • $11MN to $50MN
    • 101 to 500
  • When it comes to analytics, no one can beat Alteryx Inc., and their designing platform also works as fraud detection software which helps business from getting into any trouble. Alteryx Inc. has been a choice for many companies who want to manage their company in the best way possible. Along with that, the platform also utilizes the correct solutions for each problem, and it is enhanced in a tailor-made approach.

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    • SME
    • California, USA
    • Founded: 1997
    • $101MN to $500MN
    • 501 to 1,000
  • Angoss Software Corporation offers Fraud Detection Software that services to be top-rated among its businesses and industries. This envisions a comprehensive solution for all marketing connections, interactions, and trends. With the right attribution, you can manage, clean and blend data at each step of your journey. This also provides insights into the users' performance and marketing ROI.

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    • SME
    • Michigan, USA
    • Founded: 1985
    • $101MN to $500MN
    • 1,001 to 5,000
  • Civis Analytics solves enterprise issues of data analytics for better customer understanding with a science-first approach. Their cloud bases Civis platform enhances data research and predictions with tools like Jupyter, workflows, and notebooks to make the technical experience better. Whether to identify your customers, quickly getting insights, predictive modeling, or cross-channel attributes, Civis Analytics does it all with its state-of-the-art platform.

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    • Startup
    • Illinois, USA
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
  • The Fraud Detection Software by Domino Data lab paves the way for providing services including insurance, Internet and Technology, Life Sciences, Manufacturing, and financial services to all its data science, IT leaders, executives, and leaders. Time and again this the Fraud Detection Software is used for its model risk management, cloud products, AWS Data Science, Self-Service Data Science, and it's Open Data Science. It is one of the easiest, and organized way to organize your projects.

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    • Startup
    • California, USA
    • Founded: 2013
    • $11MN to $50MN
    • 101 to 500

Reviews

Global Head - Service and Product Development,Company Name Classified
Global Head - Service and Product Development, Company Name Classified
(*)(*)(*)(*)(*)5

“Experienced and Easy"

Guardian Analytics has been helping businesses with fraud detection for some time, and we are thankful to them for the platform. We felt that they have a platform that is easy to use, and their experience shows through the updates that are provided.
Project Manager,Company Name Classified
Project Manager, Company Name Classified
(*)(*)(*)(*)(*)5

“Knowledgeable"

We have been trusting Guardian Analytics for fraud detection, and we think that their team is quite knowledgeable about each and facet of the software. They were eager to help us out with the things that we needed and provided us with insights to start on the platform.
Senior Consultant - Marketing,Company Name Classified
Senior Consultant - Marketing, Company Name Classified
(*)(*)(*)(*)(*)5

“Helpful and Easy to Handle"

Kognitio has made sure to make fraud detection analysis as easy as possible, and this makes it easier for our employees when they are using it. On top of that, the representatives of the company are quite helpful about any queries that we might have on any topic.
Head - Product Management,Company Name Classified
Head - Product Management, Company Name Classified
(*)(*)(*)(*)(*)5

“Insightful and Fast"

Our company needed to have fraud detection software, and we took help from Kognitio. We found out that their service is quite insightful, and the analysis is in-depth. The solutions that we needed were provided fast, and we are quite happy with the service.
Project Manager,Company Name Classified
Project Manager, Company Name Classified
(*)(*)(*)(*)(*)5

“Helpful and Tailor-Made"

As soon as we got to know about the fraud detection software from Greenwave System Inc., we contacted, and they were pretty helpful in letting us know about the things that help us to keep our business free from any frauds, and it is working great.
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