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What is Fraud Detection Software?

Fraud Detection Software solutions enable organizations to detect frauds at an early stage and provide ways to prevent them.


According to 360 Quadrant analysis, the following have been identified as the top 10 vendors in the Best Fraud Detection Software

Top 10 Fraud Detection Software-

  1. IBM Corporation
  2. SAS Institute Inc
  3. Fair Isaac Corporation (FICO)
  4. BAE Systems
  5. ACI Worldwide
  6. SAP SE
  7. Oracle Corporation
  8. Nice-Systems Ltd
  9. Experian Plc
  10. DXC Technology

Best Fraud detection software is used to detect illegitimate and high-risk transactions made online. 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.  These tools continuously monitor user behaviors and calculate risk figures to identify potentially fraudulent purchases, transactions, or access. These tools are used by e-commerce businesses and digital banking companies IT and compliance departments to constantly monitor for potential fraudulent actions made by their users. Workers in the IT and Companies choose to adopt these tools to ensure transactions are legitimate while protecting sensitive information for both business and customers. Additionally, some authentication methods, such as Single Factor Authentication (SFA), Multi-Factor Authentication (MFA), and Governance, Risk, and Compliance (GRC) are also used to detect frauds.

Best 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 Best 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: Product Maturity and  Product Maturity. Each category carries various criteria based on which the vendors have been evaluated.
The evaluation criteria considered under Product Maturity include breadth and depth of product offering, product features and functionality, focus on product innovation, product quality and reliability, and product differentiation and impact on customer value.
The evaluation criteria considered under Company Maturity include geographic footprint, the 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 innovation fall in this category.

What are the different types of Fraud Detection Software Solutions?

  • Predictive Analytics- With the nature of frauds continuously evolving, the methods to prevent frauds have also advanced. Predictive analytics solutions help enterprises to identify future possibilities of fraud incidents by analyzing historical and current data. Predictive analytics solutions are the most widely used fraud analytics solutions, which are implemented for predicting fraud patterns and are readily available in the market. Predictive analytics solutions build a predictive model to indicate which frauds can be expected to increase over the coming years. Predictive analytics solutions are used to identify potential threats, identical payments, frauds in insurance processes, and credit/debit card frauds. Security vendors such as IBM, LexisNexis, and FICO use predictive analytics solutions to deal with various kinds of frauds.
  • Customer Analytics- Customer analytics helps businesses to dynamically consolidate their customer interaction data gathered via multiple touchpoints into abstract groups or clusters, in order to recognize the evolving trends and patterns of fraudulent activities. These tools help enterprises analyze their customers’ behaviors and provide insights into the latest market trends. Customer analytics helps in detecting deviations in the customers’ normal behavior. Customer analytics solutions help organizations identify fraudulent activities or suspicious behaviors of customers. These solutions are used in various industries, including BFSI, healthcare, retail, and manufacturing.
  • Social Media Analytics- Social media analytics is a set of analytical tools that gather data from blogs and social media websites. These tools help analyze and detect fraudulent activities. Social media/networking analytics is proving extremely helpful for enterprises. It helps analyze the links of a user through his/her social network accounts and then tries to analyze and detect transactions made by that user for common attributes, such as addresses, contact details, and images.
  • Big Data Analytics- According to the Global Economic Crime Survey 2016 conducted by PricewaterhouseCoopers (PwC), one out of every three organizations experience economic frauds, and almost every institute deals with fraudulent activities. Insurance companies, healthcare, financial institutes, and retail are the most common industries facing fraud-related issues. According to Trends Analytics’ research study, health insurance frauds cost the US healthcare industry between USD 70 billion to USD 260 billion each year. Advanced analytics solutions have the power to recognize suspicious patterns that indicate potential fraud. The key FDP vendors providing big data analytics are IBM, Oracle, FICO, SAS Institute, and SAP.
  • Behavioral Analytics- With the evolution of new technologies, hackers and fraudsters have begun using sophisticated tools, thus making it more difficult for enterprises and banks to prevent fraudulent incidents. In order to overcome this challenge, FDP providers have come up with a new technology based on behavioral analytics. This new technology is more capable and smarter in terms of analyzing and detecting the possibility of fraudulent activities and attempts. Every individual consumer has his/her unique behavior, related to devices, locations, channels, and financial and non-financial activities. Behavioral analytics is designed to observe the normal behavior of every individual customer, evaluate the risks of each event, and implement various methods to overcome those risks.

What are the important features to look for in a good Fraud Detection Software?

  • Real-time transaction screening and review automation- Real-time monitoring and review automation is one of the major features of best fraud detection software. Fraud detection software solutions with ML capabilities continuously monitor incoming data. Real-time data processing also means that employees no longer need to review most of the orders themselves. Some companies spend too much on manual reviewing, whereas an ML-based fraud detection solution enables them to extremely reduce or even eliminate the overhead related to manual fraud review.
  • Deep insights on user behavior- ML-based solutions have the capacity of learning from streaming data and adapting to emerging fraud patterns, while rule-based systems require analysts to specify new fraud scenarios. These tools have the capacity to identify implicit correlations between user behavior and the possibility of fraud and abuse.
  • False positives reduction- The key to accuracy in fraud detection is to assess every transaction in the broad context, going beyond location and transaction amount.
  • Real-time operations tracking and reporting- Best fraud detection software includes dashboards, that enable customers to monitor their key performance indicators in real-time, for instance, track orders and learn about their status (approved or declined) and additional information like payment method, location, channel, etc. Reporting capabilities usually include daily, weekly, or monthly reports on suspicious activity or a total number of transactions. Investigation teams may use visualizations of fraud patterns to better understand interconnections between user behavior and fraud attempts.

What are the major applications of Fraud Detection Software?

  • Insurance Claim- Fraudulent activities in an insurance process comprise insurance claim frauds. Insurance frauds occur when false insurance claims are made based on fake identities and fake incidents. Insurance frauds occur when people cheat insurance companies to receive money that they are not entitled to. Insurance frauds are of two types, namely soft frauds and hard frauds. In soft frauds, the accused is let off after payment of some fine or imprisonment of up to one year. Hard frauds involve strict penalties and jail imprisonment of more than one year for the accused. The punishment for insurance fraud varies from region to region. Life insurance, healthcare insurance, property insurance, and automobile insurance frauds are some examples of insurance frauds. Governments across the world are taking initiatives to minimize insurance frauds in the public and private sectors by designing and implementing various policies and regulatory frameworks.
  • Money laundering- Money laundering is the process of disguising the identity of illegally sourced money so that it appears to have been received from a genuine/legitimate source. Illegally gained money is laundered and moved across the globe with the help of intermediaries and money transmitters. As a result, illegal money remains hidden and is used for legal businesses. Money laundering is a worldwide issue faced by all regions, including North America, Europe, MEA, APAC, and Latin America. Money laundering comprises three steps, namely placement, layering, and integration. Placement involves depositing the amount in financial organizations. Layering involves transferring illegal funds to various countries using a series of accounts. Integration involves moving the layered amount into the financial markets where it mixes with the money from legal sources. Providers of anti-money laundering solutions are developing advanced financial investigative techniques to ensure protection against fraudulent activities. In order to prevent money laundering, governments across the world are adopting new laws and regulations, which allow law enforcement agencies to access the financial records of criminal organizations for detecting illegal money laundering activities.
  • Electronic payment- Electronic payment is a subset of eCommerce transactions that enables entities to buy and sell products and services through the internet. Online money transactions have become the most active traders, due to the evolution of the internet over the past decade. Online shopping has achieved more popularity, as it enables customers to order a variety of products available across the world without leaving the comfort of their homes. Electronic payment systems are impacted by changes in technology, the emergence of new banking institutions, and economic restructuring. The different types of electronic payment modes include debit cards, credit cards, eMoney, and Electronic Fund Transfer (EFT). Additionally, due to the growing popularity of online money transactions, electronic payment frauds have become a serious issue, as cybercriminals are attacking the customers’ accounts. Hence, it has become essential for customers and financial institutions to recognize suspicious fraudulent activities and invest in FDP solutions to effectively defend themselves against payment frauds in various payment methods. Data analytics is an operative solution that helps financial institutes to distinguish unfamiliar consumer transactions and fraudulent transactions. ACI Worldwide, Fiserv, BAE Systems, and NICE Actimize are some of the key players who provide solutions to combat electronic payment frauds.
  • Mobile/ Digital Payment- Innovations in mobile payment technologies are increasing day by day. Technologies such as Near Field Communication (NFC) are currently trending in the market. A study by Accenture states that about 52% of North Americans use mobile payment technologies, out of which 18% use mobile payments on a regular basis. Attacks such as phishing attacks, Wangiri fraud, and malware attacks are increasing at a significant rate. As a result, solutions using two-factor authentication, biometrics, and data encryption technologies are being implemented to secure mobile transactions.

A few popular Fraud Detection Software use cases-

 Use Case # 1: Threatmetrix: Kabbage

  • Objective- To prevent fraudulent loans and reduce fraud losses
  • Challenge- To detect fraudsters using stolen credentials to enter the loan application process
  • Solution- The ThreatMetrix Solution provides cost-effective features to ensure high security around business processes. It helps to detect fraudulent digital identities.
  • Benefits- The ThreatMetrix Solution comprising of digital identities helps detect fraudulent activities in Kabbage’s SME’s loan application process. The solution is used to identify and keep track of “good” or “bad” device IDs and IP addresses. Furthermore, it also helps Kabbage to protect its long term-revenue by minimizing losses and operational costs.

 Use Case # 2: Lexisnexis: Safefederal Credit Union (SAFE FCU)

  • Objective- To ensure effective compliance with new and existing government regulations and minimize fraud attempts
  • Challenge- During the loan application process, SAFE FCU verifies the customers’ identities by checking their Social Security Numbers (SSNs) with the data provided by the applicants. However, SAFE FCU faced a huge increase in fraud attempts and needed a proper solution which also complied with new and existing government regulations.
  • Solution- LexisNexis Risk Management Solution comprises advanced analytics tools that help to secure critical business processes. The solution offers various tools to search, monitor, score, and investigate business processes quickly and efficiently. Furthermore, its InstantID solution provides robust identity coverage, increases identity verification rate, and ensures regulatory compliance.
  • Benefits- The ThreatMetrix Solution comprising of digital identities helps detect fraudulent activities in Kabbage’s SME’s loan application process. The solution is used to identify and keep track of “good” or “bad” device IDs and IP addresses. Furthermore, it also helps Kabbage to protect its long term-revenue by minimizing losses and operational costs

Use Case # 3: BAE Systems: Insurance Fraud Bureau (IFB)

  •  Objective- Needed to deploy an FDP solution along with advanced analytics software to prevent and detect insurance fraud claims
  • Challenge- The IFB assists around 98% of the motor insurance market in the UK and uses advanced analytical software to identify cross-industry fraud networks (such as individuals, vehicles, companies, and addresses). However, the IFB faced a problem in identifying suspect networks functional across the insurance industry. The Association of British Insurers (ABI) has estimated that general insurance fraud claims are costing the UK industry an average of USD 2.72 billion per annum.
  • Solution- BAE Systems (NetReveal solution) enables organizations to quickly identify new fraud patterns. The solution helps the insurance industries (property and casualty insurance) to detect fraudulent activities.
  • Benefits- The NetReveal solution helped the IFB to protect its technology infrastructure. Using advanced social network analysis technologies, the solution helps the IFB to detect and prevent fraud which cannot be done using traditional systems.

Use Case # 4: ACI Worldwide: Canadian Banks

  •  Objective- To prevent and detect money laundering and bank frauds in the banking industry
  • Challenge- The Canadian federal government’s strict regulations related to money laundering and bank frauds had created a huge need for FDP solutions among various leading banks in the country. The number of false-positive alerts had increased tremendously, forcing bank analysts to spend more time in tracking potential money laundering activities.
  • Solution- The ACI Proactive Risk Manager solution uses technologies such as predictive analytics and helps card issuers, merchants, acquirers, and financial institutions to identify and mitigate financial risks, frauds, and money-laundering through expertly defined rules. The solution is also used to deal with various types of frauds such as wire fraud, ACH frauds, online frauds, credit/debit frauds, merchant frauds, and anti-money laundering frauds.
  • Benefits- The banks utilized ACI Proactive Risk Manager, and the ACI Fraud consulting team enabled them to proactively manage and generate the most accurate alerts against any type of fraudulent activity.

Frequently Asked Questions


  • Q: What are the recent developments and innovations done in Fraud Detection market?
    A:

    Recent Developments are: In October 2019, Kount launched a new fraud prevention solution to differentiate between criminal fraud, friendly fraud, and legitimate disputes to improve business outputs and increase revenue. In August 2019, NICE partnered with Jumio, a global leader in AI-powered identity verification. Jumio joined NICE’s X-Sight Marketplace ecosystem, to assist financial services organizations in evaluating new point solutions and move to stay on top of a challenging regulatory and criminal environment. In June 2019, BAE Systems partnered with Arachnys, a leading provider of in CRI solutions, to address AML and compliance obligations and to deliver accurate and efficient fraud detection and prevention solution. In January 2019, NICE unveiled the IFM-X Integrated Fraud Management (IFM) platform that leverages automation and ML technologies to minimize fraud and money-laundering attacks and to reduce the total cost of system implementation. In October 2018, BAE Systems and Mphasis formed a partnership to protect organizations from evolving fraudulent activities by providing solutions with capabilities for fraud and money laundering detection to the financial institutions. In September 2018, The company unveiled its identity authentication and verification solutions, InstantID, that helps verify a customer’s personal information. In July 2018, FRISS partnered with Rabobank to provide solutions to P&C insurance industry to minimize fraudulent activities. In April 2018, FICO upgraded its antifraud solution to help banks, lenders, FinTechs, and other institutions fight financial crime.

  • Q: Where will all these developments take the Fraud Detection industry in the long term?
    A:

    All the developments will drive the market towards positive growth. Fraud Detection and Prevention (FDP) market size to grow from USD 3.4 billion in 2018 to USD 63.5 billion million by 2023, at a Compound Annual Growth Rate (CAGR) of 26.7% during 2018–2023. Cloud based solutions are expected to gain traction during the forecast period.

  • Q: What are the upcoming trends for the Fraud Detection and Prevention Market?
    A:

    The major factors that are expected to be driving the FDP market are increasing revenue losses for organizations due to the rising fraudulent attacks, increasing use of electronic transactions across all the verticals and increasing sophistication level of cyber-attacks across all regions will contribute to the growth of the overall FDP market. The rise of digital technologies for payments and the growth of digital banking offer several untapped and unexplored growth opportunities for the FDP market. Online businesses rely mainly on electronic transactions for their products and services offered. Along with the increase in the number of customers shopping online, fraudulent activities have also been on the rise. Frauds such as identity theft, merchant and triangulation frauds, affiliate and clean frauds, phishing, pagejacking, and counterattacks occur during online transactions. FDP is an important issue for eCommerce businesses; customers need assurance that their sensitive data is safe and that their debit or credit card details cannot be stolen. As a result, organizations are adopting FDP solutions to meet their need for security, which is expected to be a key growth driver of the Fraud Detection and Prevention Market.

  • Q: Which segment provides the most opportunity for growth in Fraud Detection Market?
    A:

    By solution, the fraud analytics segment is expected to grow at the highest CAGR during the forecast period. The fraud analytics segment is expected to grow at the highest CAGR in the Fraud Detection and Prevention Market during the forecast period. Fraud analytics is a critical discipline which involves set of analytical techniques to analyze enterprises’ systems and database to identify the vulnerabilities where fraud can happen. They help in monitoring and analyzing data from several data sources; detect anomalies, and suspicious and unusual behavior across all channels. They also proactively detect frauds and enable robust information security to improve compliance. The growing adoption of technologies such as AI and machine learning for fraud detection could spur the demand for fraud analytics solutions on a large scale. By vertical type, the banking to account for the largest market size in the Fraud Detection and Prevention Market during the forecast period. The BFSI vertical is also a major target for cyber criminals who wants to commit frauds as it holds sensitive information of employees, customers, assets, offices, branches, and operations. Moreover, due to its amount of transactions (both monetary and data centric), number of transactions, technological advancements, and digitalization of financial sector, the possibility of frauds in this vertical is increasing significantly. Hence, organizations in this vertical are increasing the adoption of FDP solutions on a large scale to avert any kind of fraudulent attacks.

  • Q: Who are the leading vendors operating in the Fraud Detection market?
    A:

    The key players in FDP market are: IBM (US), FICO (US), SAS Institute (US), BAE Systems (UK), DXC Technology (US), SAP (Germany), ACI Worldwide (US), Fiserv (US), NICE Systems (Israel), Experian (US), LexisNexis Risk solutions (US), iovation (US), Friss (Netherlands), Dell technologies (US), First Data (US), Wirecard (Germany), Software AG (Germany), Easy Solutions (US), Distil Networks (US), Guardian Analytics (US), Securonix (US), MaxMind (US), Kount(US), and Simility (US)

  • Q: What are the opportunities for new market entrants in Fraud Detection industry?
    A:

    Applying AI and ML for FDP can be said to be the biggest opportunity for new market entrants. AI and ML are revolutionizing various businesses and industries. The ability of AI and ML will drastically reduce workforce costs, help in discovering new patterns, and create predictive models from raw data. The technologies enable real-time automated decisions for detecting fraudulent activities. AI and ML help data scientists to determine the transactions, which are most likely to be fraudulent. These technologies automatically discover the patterns across large volumes of streaming transactions.

Filters

Best Fraud Detection Software

Comparing 41 vendors in Fraud Detection Software across 127 criteria.
  • 360 Score: 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
  • 360 Score: 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
  • 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
  • 360 Score: 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
  • 360 Score: 3.47

    ACI Analytics 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. The company 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
  • 360 Score: 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
  • 360 Score: 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
  • 360 Score: 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
  • 360 Score: 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
  • 360 Score: 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
  • 360 Score: 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.

    • Enterprise
    • New York, USA
    • Founded: 1970
    • $1BN to $5BN
    • 10,001 to 15,000
  • 360 Score: 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
  • 360 Score: 2.382 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
  • 360 Score: 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
  • 360 Score: 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
  • 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
  • 360 Score: 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
  • 360 Score: 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
  • 360 Score: 2.072 Reviews

    Imperva Bot Management'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
  • 360 Score: 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
  • 360 Score: 1.97

    Software AG's Event Analytics for Adabas 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
  • 360 Score: 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
  • 360 Score: 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
  • 360 Score: 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
  • 360 Score: 0.0

    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
  • 360 Score: 0.0

    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
  • 360 Score: 0.02 Reviews

    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
  • 360 Score: 0.0

    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
  • 360 Score: 0.02 Reviews

    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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