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The BFSI vertical is among the most fraud-hit verticals due to its amount of transactions (both monetary and data centric), number of transactions, and technological advancements. With online and card-related transactions becoming more common, the possibility of frauds in this vertical is increasing significantly. This BFSI vertical faces both internal and external fraud threats, which can lead to disastrous losses. The vertical has implemented several technology-based solutions and is one of the early adopters of FDP solutions. However, these technological advancements still create nightmares for the BFSI vertical. Fraudsters and hackers are trying newer and advanced technology-based solutions to hack into or access (unauthorized) networks and systems. As a result, banking and financial service providers spend millions of dollars to keep their systems up-to-date with the latest security measures.

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Fraud Detection and Prevention Solutions in BFSI

  • 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
  • 3.82

    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
  • 3.71

    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
  • 2.69

    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
  • 2.63

    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
  • 2.39
    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
  • 2.34

    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

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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