- In December 2023, Experian partnered with NeuroID to strengthen its fraud prevention solutions. This collaboration focuses on deterring fraud attacks, preventing identity theft, and safeguarding against AI-powered bots. By combining their expertise, the two companies aim to enhance security measures and provide more effective protection for consumers and businesses alike
- In October 2023, Oscilar unveiled the industry's first generative AI-powered platform specifically designed for fraud prevention. This innovative solution automatically identifies potential fraud patterns, performs root cause analysis, and offers real-time risk recommendations. By leveraging advanced AI technology, Oscilar aims to enhance the effectiveness of fraud detection and prevention efforts for businesses
- In May 2023, Experian introduced Experian's Hunter, a fintech-focused adaptation of its renowned fraud prevention data network in the U.S. This innovative solution aims to deliver enhanced protection against fraud for both businesses and consumers. By leveraging its extensive data capabilities, Experian's Hunter seeks to strengthen security measures and mitigate the risks associated with fraudulent activities
- In September 2022, Experian launched Experian Fraud Score, a comprehensive fraud protection solution designed to assist organizations of all sizes in detecting fraud throughout the transaction and customer lifecycle. This tool enables businesses to identify potential fraudulent activities effectively, enhancing their security measures. By providing valuable insights at critical stages, Experian Fraud Score aims to bolster organizations' defenses against fraudulent transactions
- In June 2022, Advanced Fraud Solutions (AFS) partnered with Fiserv, a leading provider of payments and financial services technology. This collaboration enables Fiserv and its financial institution clients to assess risk-based fund availability and enhance fraud detection and decision-making processes. By integrating AFS’s solutions, the partnership aims to prevent losses and identify fraudulent credits before they are processed
Frequently Asked Questions
The market is segmented based on Global Fraud Detection and Prevention Market Segmentation, By Component (Solutions and Services), Application Area (Identity Theft, Payment Fraud, Money Laundering, and Others), Solution (Fraud Analytics; Authentication; Governance, Risk, and Compliance), Deployment Mode (On-Premises and Cloud), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Vertical (Banking, Financial Services and Insurance, Retail, Telecommunication, Government/Public Sector, Healthcare, Real Estate, Energy and Power, Manufacturing, and Others) – Industry Trends and Forecast to 2031
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The Global Fraud Detection And Prevention Market size was valued at USD 221.84 USD Million in 2023.
The Global Fraud Detection And Prevention Market is projected to grow at a CAGR of 11.65% during the forecast period of 2024 to 2031.
The major players operating in the market include InterGuard, Software AG, NCR Corporation, Capgemini, DXC Technology Company, LexisNexis, Splunk , Microsoft, Bloombase, Symantec, Intel Security, EMC Corporation, Amazon Web Services , Check Point Software Technologies, Cisco System , FSecure.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
