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.

Find the best Fraud Detection Software 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 Software tools.
  • Breadth and Depth of Product Offerings
    • Product Offerings
    • licenses
    • Solutions Offered
      • Fraud 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
      • Other features
  • 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 (42)

  • 1

    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
  • 2

    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 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

    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
  • 4

    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
  • 5

    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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    • SME
    • Naples, Florida, United States of America
    • 1,001 to 5,000
  • 6

    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
  • 7

    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
  • 8

    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
  • 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
  • 10

    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
  • 11

    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
  • 12

    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
    • 501 to 1,000
  • 13

    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
    • Startup
    • Mountain View, CA, US
    • Founded: 2005
    • $11MN to $50MN
    • 101 to 500
  • 15

    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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    • Enterprise
    • Doral, Florida, US
    • Founded: 2007
    • 101 to 500
  • 16

    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
    • 501 to 1,000
  • 17

    Fidelity Information Services on FIS works against fraudulent activities by real-time monitoring, robust and useful intervention tools. There are account and card monitoring solutions that alert the customers and the teams working at fraud detention so that your 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
  • 18

    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
    • 501 to 1,000
  • 19

    Kount has become a professional leader by providing some of the most advanced fraud detection schemes. 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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    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Startup
    • Matn, Mount Lebanon, Lebanon
    • Below $10 MN
    • 51 to 100
  • 22

    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
    • 1,001 to 5,000
  • 23

    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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    • Enterprise
    • 501 to 1,000
  • 24

    FRISS entirely concentrates on automated risk and fraud detection 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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    • Enterprise
    • 501 to 1,000
  • 25

    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.

    Read More
    • Enterprise
    • 501 to 1,000
  • 26

    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.

    Read More
    • Startup
    • California, USA
    • Founded: 2013
    • $11MN to $50MN
    • 101 to 500
  • 27

    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.

    Read More
    • Startup
    • California, USA
    • Founded: 2006
    • $11MN to $50MN
    • 101 to 500
    • SME
    • California, USA
    • Founded: 1997
    • $101MN to $500MN
    • 501 to 1,000
  • 29

    Angoss Software Corporation offers Fraud Detection Software services which are one of the 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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    • Startup
    • Ontario, Canada
    • Founded: 1984
    • Below $10 MN
    • 51 to 100
  • 30

    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
  • 31

    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
    • Below $10 MN
    • 101 to 500
  • 32

    Exago, Inc provides its Fraud Detection Software that follows its traditional approach of delivering solutions along with its tool to all its clients. This is hugely beneficial as it supplies quick interactive and narrow tools for all its consumers. This product offers a simple principle of providing reliable, scalable, robust and self-serving services in addition to delivering analytical solutions to its happy consumers. Also, businesses can easily schedule a demo for its Fraud Detection Software at Exago, Inc.

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    • Startup
    • Connecticut, USA
    • Founded: 2006
    • Below $10 MN
    • 51 to 100
  • 33

    Good Data Fraud Detection platform is ideal for prime security and governance. It includes the embedded fraud Detection Software for OEM in addition to providing a developer portal. The Fraud Detection Software utilizes its data sources such as snowflake, redshift, etc. can be identified and used for a holistic understanding of the consumer's project or solution. Concerning the products, various e-books, case studies, and resources are offered to manage your results.

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    • Startup
    • California, USA
    • Founded: 2007
    • $51MN to $100MN
    • 101 to 500
    • Startup
    • California, USA
    • Founded: 2008
    • $51MN to $100MN
    • 101 to 500
  • 35

    Information Builders Inc has developed a platform to develop the best analytics to align your business and enhance it for the employees as well as customers. The use of adequate data and analytics has evolved a robust system against frauds and mal-activities, which might harm your company and its data. The data management system is easy to access to complete data which gives absolute accuracy and consistency to align with your organization and produce the best outcomes.

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    • SME
    • New York, USA
    • Founded: 1975
    • $101MN to $500MN
    • 1,001 to 5,000
    • Startup
    • Bracknell Forest, UK
    • Founded: 1987
    • Below $10 MN
    • 51 to 100
  • 37

    Qlik has been helping industries with a faster, smarter and better data solution platform to manage and analyze data that can transform a business. Qlik has partnered with the world's largest financial institutions for fraud detection and prevention with improved analytics, and real-time records and security. With the fastest platform, enterprises can quickly collect and investigate data from all the channels and create interactive analysis and data visualization.

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    • Enterprise
    • Pennsylvania, USA
    • Founded: 1993
    • $500MN to $1BN
    • 1,001 to 5,000
    • Startup
    • California, USA
    • Founded: 2012
    • $11MN to $50MN
    • 51 to 100
  • 39

    Sisense has developed a sensitive mechanism against fraud activities, realizing that 5% to 10% of customers are abusive to the benefits of a company. Sisense thereby keeps a close tab on these fraudulent tendencies in customers and takes steps to control them. They ultimately can be sure of canceling such subscriptions and keep your company safe. They look at various insights of the customer to reach conclusions that are very precise and helpful in the long run.

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    • Startup
    • New York, USA
    • Founded: 2004
    • $101MN to $500MN
    • 501 to 1,000
  • 40

    Tableau is one of the most robust and most reliable data visualizing software to be used in business aptitude firms. It assists the organizations in reducing to bare bones of unprocessed data in the most straightforward pattern. The data analyzing procedure of Tableau is very speedy. Professionals of any level of efficiency can understand the required data easily by using Tableau.

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    • Enterprise
    • California, USA
    • Founded: 2003
    • $1BN to $5BN
    • 1,001 to 5,000
  • 41

    Teradata Corporation's Fraud Detection Software offers real-time answers, and relevant data sources to all its consumers. The Fraud Detection Software revolves around providing three vital services, namely, consulting, and cloud products and: business analytics. This includes supplying Teradata Vantage, Cloud Solutions, and Customer Stories. Big Data, Artificial Intelligence, and Cloud are crucial to any consumer's wants, and supplies outcomes in terms of Asset Optimization, Operational Excellence and Product Innovation.

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    • Enterprise
    • California, USA
    • Founded: 1979
    • $1BN to $5BN
    • 10,001 to 15,000
    • Enterprise
    • California, USA
    • Founded: 1997
    • $1BN to $5BN
    • 5,001 to 10,000

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Marie Stelle

Engagement Partner - 360Quadrants.com