Financial Fraud Detection Software Market to Witness Huge Growth during 2021-2026

Global Financial Fraud Detection Software Market Research and Forecast Report 2021-2026 © 2019 IMARC All Rights Reserved

Author: Elena Anderson, Marketing Manager | Copyright © IMARC Service Pvt Ltd. All Rights Reserved IMARC Group

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Report Description and Highlights

Report Description

Global Financial Fraud Detection Software Market Research Report: According to the latest report by IMARC Group, titled " Financial Fraud Detection Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 ," the global financial fraud detection software market exhibited strong growth during 2015-2020.

Financial fraud detection software (FFDS) are automated solutions that are widely used for identifying and preventing fraudulent activities related to monetary payments. It utilizes statistical data analysis techniques and artificial intelligence (AI) to assist in monitoring and assigning risk scores as well as detecting fraud associated with online transactions.

These solutions are also being integrated with state-of-the-art technology, such as consumer analytics, multi-factor authentication, and reporting and visualization solutions. They are increasingly deployed for preventing unauthorized access to the network, minimizing the overall threat detection time, improving identification of fraud patterns and managing large data sets in an efficient manner.

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Report Description and Highlights

Report Description

Global Financial Fraud Detection Software Market Trends : The global market is primarily driven by the increasing incidences of cyberattacks and cyber frauds.

With the rising preference toward the use of online banking services across the globe, FFDS is widely deployed by various organizations across the banking, financial services, and insurance (BFSI) sector to assist them in combating a vast array of fraudulent activities and protecting sensitive data of customers.

These solutions detect and prevent incidences of money laundering, forging bank checks and cardrelated scams effectively, thereby gaining widespread prominence across the globe. The market is further driven by significant growth in the e-commerce industry, which has provided a boost to the need for online money transactions on the global level. Moreover, these software solutions are also being integrated with big data, data analytics, predictive modeling and deep learning technology to further assist in access control, caching, bot detection and enforcement, malware detection threat intelligence, and application program interface (API).

Some of the other factors contributing to the market growth include rapid digitization across the banking sector and the continual technological advancements in information technology (IT) infrastructure. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 23% during 2021-2026.

Report Description and Highlights

Report Description Market Summary: Breakup by Type: • Identity Theft • Wire Transfer Frauds • Claim Frauds • Money Laundering • Subscription Frauds • Credit and Debit Card Frauds Breakup by End User: • BFSI • Healthcare • IT and Telecommunication • Manufacturing • Educational Institutions • Government • Others

Report Description Report Description and Highlights Breakup by Region: •North America • United States • Canada •Asia Pacific • China • Japan • India • South Korea • Australia • Indonesia • Others •Europe • Germany • France • United Kingdom • Italy • Spain • Russia • Others

Report Description Report Description and Highlights •Latin America • Brazil • Mexico • Argentina • Columbia • Chile • Others • Peru •Middle East and Africa Turkey • Saudi Arabia • Iran • United Arab Emirates • Others Competitive Landscape with Key Player: • ACI Worldwide Inc.BioCatch • CipherCloud Inc. (Lookout Inc.) • Experian Information Solutions Inc (Experian plc) • Kount Inc, Oracle Corporation

Report Description Report Description and Highlights • • • • • •

Oracle Corporation Riskified Ltd. SAS Institute Inc Signifyd Inc. Thales Group ValidSoft.

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Report Description and Highlights

Report Description

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