TOP 20 FRAUD DETECTION SOFTWARE COMPANIES – BY 360QUADRANTS
Fraud Detection Software enables enterprises to respond to frauds before or soon after they occur. Fraud detection solutions leverage predictive analytics, social media analytics, customer analytics, behavioral analytics, Single Factor Authentication (SFA), Governance, Risk, and Compliance (GRC), and Multi-Factor Authentication (MFA) to detect frauds. Fraud Detection Software has applications in insurance claims, electronic payments, and money laundering. These solutions are used in numerous industries, including Banking, Financial Services, and Insurance (BFSI), healthcare, retail, manufacturing, and government.
360Quadrants, the most granular comparison platform, has released a quadrant on Fraud Detection Software to help businesses make quicker and more informed decisions. The quadrant has IBM, SAS Institute, and FICO sharing space as Visionary Leaders. 360Quadrants are generated post analysis of companies (product portfolios and business strategy). Quadrants will be updated every three months based on market and regional analyses and developments in Fraud Detection Software. 360Quadrants also lists the 20 best companies in the Fraud Detection Software space.
The IBM cybersecurity portfolio features endpoint protection, mainframe security, network protection, data security, application security, advanced fraud detection, security intelligence & operations, mobile, cloud, and Identity and Access Management (IAM). Under fraud detection, the company offers IBM Security Trusteer Fraud Protection Suite, which includes IBM Security Access Manager, IBM Trusteer Pinpoint Detect, IBM Trusteer Rapport, and IBM Counter Fraud Management. This suite helps businesses to safeguard themselves from all types of fraudulent activities.
SAS provides customer-centric software for commercial and individual clients. Its fraud and security intelligence tools help users mitigate the risk of fraud through anomaly detection techniques. SAS solutions grant users a consolidated view of business operations and help detect and prevent fraud in real time. SAS Fraud Detection Software features fraud data management, detection, alert management, case management, and alert generation for the enterprise, government, and BFSI segments.
The FICO fraud detection portfolio offers numerous solutions, including Enterprise Fraud and Security, Falcon Fraud Manager, Retail Fraud Manager, and Application Fraud Manager. The FICO Falcon Platform provides real-time enterprise protection against frauds occurring through electronic payment channels. FICO solutions can be deployed on the cloud or on-premises.
Fraud Detection Software Quadrant Highlights
360Quadrants covers 42 companies in the Fraud Detection Software space and places the top 25 of them in a quadrant based on their quality, reliability, and business outcome. These 25 companies are categorized as Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.
360Quadrants recognizes IBM, SAS Institute, FICO, BAE Systems, ACI Worldwide, SAP, and ThreatMetrix as Visionary Leaders; NICE Systems, Experian, LexisNexis, Easy Solutions, Guardian Analytics, and Kount as Innovators; Fiserv, DXC Technology (CSC), Oracle, FIS, Visa, and Mastercard as Dynamic Differentiators; and Software AG, Distil Networks, Featurespace, eMcREY, FRISS, and iovation as Emerging Companies. The 360Quadrants platform provides the most granular Fraud Detection Software comparisons between vendors.
The methodology used to rank vendors of Fraud Detection Software involved the use of extensive secondary research to identify key vendors by referring to annual reports, press releases, investor presentations, white papers, and various related directories and databases. 42 key vendors were shortlisted based on their breadth of product offerings, organization size, and several other criteria. The scores and weights for shortlisted vendors against each parameter were finalized after extensive research. After the finalization of ratings, each vendor was placed in the most relevant quadrant based on its score in the product offering and business strategy parameters.
360Quadrants is the largest marketplace looking to disrupt US $3.7 trillion of technology spend and is the only rating platform for vendors in the technology space that combines data from buyers, vendors, experts, and in-house analysts. The platform provides users access to unbiased information that helps them make qualified business decisions. 360Quadrants enables vendors to influence the business decisions of potential clients. Vendors get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and start-ups alike. 360Quadrants aims to simplify and de-risk complex purchase decisions by providing buyers with real-world insights from their peers, industry experts, analysts, and vendors, helping buyers make more informed decisions and find the best-fit solutions faster. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.
360Quadrants has also launched quadrants in fields like Application Modernization Services, AI Platform, and AI in Manufacturing.