Criminal or wrongful deception intended to achieve financial or personal gain is called as fraud. Fraud detection and prevention (FDP) is set of software which helps to predict and detect the fraud. FDP used advance analytical methods for predictive fraud detection. Fraud has become a huge issue for the global business organizations- ranging from misuse of identity, fraudulent high value contract, and large scale financial frauds. Traditional fraud detection methods are becoming obsolete and new sophisticated methods are being implemented for predictive fraud detection, thereby leading global FDP market for significant growth.
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FDP Market Segmentation
By Solution
• Fraud Analytics
• Authentication
• Governance, Risk, and Compliance Solutions
By Deployment Type
• Cloud
• On-premise
By Service
• Professional Services
• Managed Services
By Application Area
• Insurance Claims
• Money Laundering
• Electronic Payment
By Organization Size
• Small and Medium Enterprises (SMES)
• Large Enterprises
By End User
• Banking, financial services, and insurance (BFSI)
• Government and education
• Healthcare
• Telecom and it
• Retail
• Manufacturing
• Media and entertainment
• Others (business service providers, energy and utilities, transportation, and construction)
Geography
• North America
• Europe
• LAMEA
• Asia-Pacific
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Key Market Players
• ACI Worldwide Inc.
• BAE Systems Inc.
• DXC Technology, Inc.
• EMC Corporation
• Fair Isaac Corporation (FICO)
• Fiserv Inc.
• IBM Corporation
• Oracle Corporation.
• SAP SE
• SAS Institute, Inc.
• ThreatMetrix Inc.
