Global Fraud Management in Banking Market Size study, by Component (Solution, Service) by Fraud Type (Payment Fraud, Loan Fraud, Identity Theft, Money Laundering, Others) by Application (Fraud Detection and Prevention Systems, Identity and Access Manageme

Global Fraud Management in Banking Market Size study, by Component (Solution, Service) by Fraud Type (Payment Fraud, Loan Fraud, Identity Theft, Money Laundering, Others) by Application (Fraud Detection and Prevention Systems, Identity and Access Management (IAM), Customer Authentication, Transaction Monitoring, Others) and Regional Forecasts 2022-2032

Global Fraud Management in Banking Market is valued approximately at USD 7.98 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 22.8% over the forecast period 2024-2032. Fraud management in banking encompasses a range of sophisticated techniques employed by financial institutions to mitigate risks and safeguard their assets, systems, and customers. Utilizing forensic and statistical analysis, pattern recognition, and anomaly detection, these methods aim to preserve the integrity and security of the financial ecosystem. The market's growth is substantially driven by the increasing adoption of online and mobile banking services, coupled with a surge in financial fraud incidents. Furthermore, the integration of digital transformation technologies has amplified the effectiveness of fraud management systems, thereby fostering market expansion.

The Global Fraud Management in Banking Market is driven by rising adoption of online banking applications and mobile banking services, alongside the rising incidences of financial fraud, propels the global fraud management in banking market. The implementation of digital transformation technologies has notably enhanced the market's growth trajectory. Moreover, the burgeoning fintech innovations present lucrative opportunities for the market's expansion in the foreseeable future. However, the market faces challenges, such as high false positive rates and the escalating complexity of fraudulent activities, which impede its progression.

The key regions considered for the Global Fraud Management in Banking Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America held the dominant market share in 2023, attributed to the increasing adoption of fraud management solutions by small and medium enterprises aiming to streamline financial operations effectively. Furthermore, the Asia-Pacific region is poised for significant growth during the forecast period, driven by the rising implementation of web-based and mobile-based business applications within the banking fraud management sector.

Major market player included in this report are:

IBM Corporation

NICE Actimize

LexisNexis Risk Solutions

Experian PLC

ACI Worldwide Inc.

SAS Institute Inc.

SAP SE

BioCatch Ltd.

FIS Global

BAE Systems

The detailed segments and sub-segment of the market are explained below:

By Component:
• Solution
• Service

By Fraud Type:
• Payment Fraud
• Loan Fraud
• Identity Theft
• Money Laundering
• Others

By Application:
• Fraud Detection and Prevention Systems
• Identity and Access Management (IAM)
• Customer Authentication
• Transaction Monitoring
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market