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

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

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

VISIONARY LEADERS

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

INNOVATORS

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

DYNAMIC Differentiators

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

EMERGING COMPANIES

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

TOP VENDORS
In Fraud Detection and Prevention Solutions

  1. IBM CORPORATION
    0 Reviews
    4.2
  2. SAS INSTITUTE INC
    0 Reviews
    4.0
  3. FAIR ISAAC CORPORATION (FICO)
    0 Reviews
    3.8

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KEY BUYING CRITERIA

Product Maturity
Strategic Maturity
Use Case Maturity
Most IMPORTANT
0.0
0.0
0.0
Breadth and Depth of Product Offerings
4.35
4.25
3.35
Product Features and Functionality
4.05
5.00
5.00
Delivery
4.60
2.90
4.60
Scalability
3.35
3.10
3.35
Support and Services
3.80
4.50
4.20
LEAST IMPORTANT LESS IMPORTANT

TOP VENDORS

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

    BUYER
    VENDOR
    EXPERTS
    4.2
    MNM ANALYSTS
     
  • The company offers fraud and security intelligence solutions to mitigate risks and fraud practices with the help of anomaly detection techniques. SAS provides fraud and security solutions that implement fraud detection techniques to gain a consolidated view of the fraud risks. SAS Fraud Framework provides solutions such as fraud data management, alert management, detection, alert generation, and case management to the government, enterprise, and BFSI sectors.

    BUYER
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    4.0
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  • 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.

    BUYER
    VENDOR
    EXPERTS
    3.8
    MNM ANALYSTS
     
  • 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.

    BUYER
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    EXPERTS
    3.7
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    3.5
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  • 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.

    BUYER
    VENDOR
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    3.3
    MNM ANALYSTS
     
  • The solution provides users with real-time information to help organizations prevent revenue losses. The company uses predictive analytics technology in its solutions to offer better fraud management for its customers and proactively minimize fraud risks.

    BUYER
    VENDOR
    EXPERTS
    3.0
    MNM ANALYSTS
     
  • 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.

    BUYER
    VENDOR
    EXPERTS
    2.9
    MNM ANALYSTS
     
  • 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.

    BUYER
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    2.8
    MNM ANALYSTS
     
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    2.8
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  • 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.

    BUYER
    VENDOR
    EXPERTS
    2.7
    MNM ANALYSTS
     
  • 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.

    BUYER
    VENDOR
    EXPERTS
    2.6
    MNM ANALYSTS
     
  • 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.

    BUYER
    VENDOR
    EXPERTS
    2.6
    MNM ANALYSTS
     
  • BUYER
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    EXPERTS
    2.5
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  • 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.

    BUYER
    VENDOR
    EXPERTS
    2.4
    MNM ANALYSTS
     
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    2.4
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    2.0
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    1.9
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    1.9
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  • BUYER
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    1.8
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  • BUYER
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    1.7
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