Our Fraud Detection & Prevention in Banking research report provides a detailed evaluation and analysis of the evolving fraud landscape when it comes to banking and the financial industry, including the impact of evolving payment types such as instant payments, blockchain and CBDCs (central bank digital currencies). The fraud analytics and prevention techniques study examines other initiatives and fraudulent schemes disrupting the market, such as the changing scope of government regulations and the use of artificial intelligence by both good and bad actors.
The banking fraud detection research also considers future challenges within fraud detection and prevention for banking, such as false positives and emerging trends in the banking sector space, including the increased use of behavioural analysis and transaction monitoring.
In addition, this fraud detection and prevention market report covers fraud risks market segment opportunities; providing a comprehensive approach with strategic insights into the development of advanced methods of fraud detection and prevention capabilities for banks and other financial institutions, in line with new technologies, such as AI and machine learning.
Through advanced analytics, It highlights future opportunities and technologies that are important for fraud detection and prevention vendors, banks and financial institutions to consider when adapting fraud detection and prevention solutions for the future, incorporating advanced fraud detection aspects such as AI and real-time data.
The report positions 15 fraud detection in banking and prevention vendors in the financial services sector across the Juniper Research Competitor Leaderboard; delivering an invaluable resource for stakeholders seeking to understand the competitive landscape in the financial fraud market.
The research suite contains a detailed dataset; providing forecasts for 60 countries across a wide range of different metrics and instances of fraud, including total number of banks, credit unions, lenders and investment companies using types of fraud detection and prevention solutions, total annual spend on fraud detection and prevention solutions, total number of fraudulent transactions in banking and money transfer and total fraudulent transaction value.
Key Features
Market Dynamics: A strategic analysis of the major drivers, challenges, and innovations shaping the adoption and development of the fraud detection and prevention in banking industry, including:
Key Takeaways & Strategic Recommendations: In-depth analysis of key development opportunities and key findings within the fraud detection and prevention in banking market, accompanied by key strategic recommendations for stakeholders.
Benchmark Industry Forecasts: Includes forecasts for the total money transfer for both domestic and international money movement, as well as the total money sent through consumer instant payments. This data is split by our 8 key forecast regions and 60 countries.
Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 15 vendors in the fraud detection and fraud prevention solutions space, via a Juniper Research Competitor Leaderboard.
Please note: the online download version of this report is for a global site license.
- 1. Key Takeaways & Strategic Recommendations
- 1.1 Key Takeaways
- 1.2 Strategic Recommendations
- 2. Market Landscape
- 2.1 Introduction
- 2.2 Definitions and Scope
- Figure 2.1: Visualisation of Fraud
- 2.3 Types of Fraud
- 2.3.1 First-party Fraud
- i. Application Fraud and Fake Accounts
- ii. Money Mules
- iii. Fronting
- iv. Sleeper Fraud
- v. APP Fraud
- vi. Social Engineering
- 2.3.2 Money Laundering
- Figure 2.2: Visualisation of Money Laundering
- 2.3.3 Chargeback Fraud
- Figure 2.3: Visualisation of Chargeback Fraud
- 2.3.4 ATO
- Figure 2.4: Visualisation of Account Takeover
- 2.3.5 Synthetic Identity
- Figure 2.5: Visualisation of Synthetic Identity Fraud
- i. Detection of Synthetic Identity Fraud
- 2.4 Solutions Utilised in Issuer Fraud Detection & Prevention
- 2.4.1 Fraud Detection and Prevention Systems
- Figure 2.6: Types of Fraud Detection and Techniques
- i. Biometrics
- ii. Tokenisation
- iii. Behavioural Analytics
- iv. AML Software
- 3. Emerging Fraud Market
- 3.1 Key Themes and Areas Involved
- 3.2 Key Trends & Current Market Drivers
- 3.3 Payment Types
- 3.3.1 Open Banking
- i. Increase in Fraud Through Open Banking
- Figure 3.1: Visualisation of Open Banking
- ii. Decrease in Fraud Through Open Banking
- Figure 3.2: Visualisation of Open Banking
- 3.3.2 BNPL
- i. Increase in Fraud Through BNPL
- Figure 3.3: Buy Now Pay Later Flow
- ii. Decrease in Fraud Through BNPL
- 3.3.3 CBDCs
- Figure 3.4: Visualisation of CBDC
- i. Increase in Fraud Through CBDCs
- ii. Decrease in Fraud Through CBDCs
- iii. Mitigating CBDC Fraud
- 3.3.4 Cryptocurrency
- i. Increase in Fraud Through Cryptocurrency
- ii. Mitigating Cryptocurrency Fraud
- 3.3.5 Real-time Payments
- Figure 3.5: Visualisation of Instant Payments
- i. Increase in Fraud Through Real-time Payments
- ii. Decrease in Fraud Through Real-time Payments
- 3.3.6 Money Transfer
- i. Increase in Fraud Through Money Transfer
- Figure 3.6: Total Number of Fraudulent Money Transfer Transactions (m), Split by 8 Key Regions, 2024-
- ii. Decrease in Fraud Through Money Transfer
- 3.4 Technologies
- 3.4.1 AI
- i. Benefits of AI in Fraud Detection
- Figure 3.7: Benefits of AI in Fraud Detection
- ii. How AI Is Being Utilised by Fraudsters
- 3.4.2 ML
- i. Benefits of ML in Fraud Detection
- ii. How ML Is Being Utilised by Fraudsters
- 3.4.3 APIs
- i. Benefits of APIs in Fraud Detection
- ii. How APIs Are Being Utilised by Fraudsters
- iii. Open Banking APIs
- iv. FAPI (Financial-grade API)
- 3.5 Regulations
- 3.5.1 UK Faster Payments Regulation
- 3.5.2 PSD
- 3.5.3 RTS (Regulatory Technical Standards) Implications for Payment Service Providers
- i. Fraud Detection
- ii. Merger of Home Working, Personal Devices and Corporate Access
- iii. Exemptions from SCA
- iv. Implications
- v. Network Tokenisation in India
- vi. Regulation Differences
- 4. Segment Analysis
- 4.1 Introduction
- 4.1.1 Banks and Credit Unions
- Figure 4.1: Total Spend on Fraud Detection and Prevention by Banks and Credit Unions ($m), Globally, Split by 8 Key Regions, 2024-
- 4.1.2 Fintechs
- Figure 4.2: Total Number of Fintechs Using Fraud Detection and Prevention Solutions, 2024-
- 4.1.3 Lenders
- i. Reducing Exposure to Fraud
- ii. Enhance Risk Management
- iii. Improved Quality of Loan Portfolio
- iv. Protect Trust and Reputation
- Figure 4.3: Total Spend on Fraud Detection and Prevention by Lenders Globally ($m), Split by 8 Key Regions, 2024-
- 4.1.4 Investment Companies
- Figure 4.4: Total Spend on Fraud Detection and Prevention from Investment Companies ($m), Split by 8 Key Regions, 2024-
- 4.2 Key Challenges
- 1. Juniper Research Competitor Leaderboard
- 1.1 Why Read This Report
- Table 1.1: Juniper Research Competitor Leaderboard Vendors: Fraud Detection & Prevention in Banking
- Figure 1.2: Juniper Research Competitor Leaderboard – Fraud Detection & Prevention in Banking
- Table 1.3: Juniper Research Competitor Leaderboard: Fraud Detection & Prevention in Banking Vendor Ranking
- Table 1.4: Juniper Research Competitor Leaderboard Fraud Detection & Prevention in Banking – Heatmap
- 2. Company Profiles
- 2.1 Issuer Fraud Prevention Vendor Profiles
- 2.1.1 Accertify
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- Figure 2.1: Accertify Financial Institution Fraud Prevention Solution
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.2 ACI Worldwide
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.3 ComplyAdvantage
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.4 Discover
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.5 Feauturespace
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.6 Feedzai
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.7 Fiserv
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.8 Fraudio
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.9 GBG
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.10 LexisNexis Risk Solutions
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.11 Mastercard
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.12 SEON
- i. Corporate Information
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.13 Thales
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.14 TransUnion
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.1.15 Visa
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Opportunities
- 2.2 Juniper Research Leaderboard Assessment Methodology
- 2.2.1 Limitations & Interpretations
- Table 2.4: Juniper Research Fraud Detection & Prevention in Banking Assessment Criteria
- 1. Market Overview
- 1.1 Introduction
- 1.2 Definitions and Scope
- Figure 1.1: Visualisation of Fraud
- 2. Methodology Assumptions and Summary
- 2.1 Forecast Introduction
- 2.2 Methodology & Assumptions
- Figure 2.1: Spend on Fraud Detection & Prevention Methodology
- Figure 2.2: Fraudulent Transaction Value Forecast
- 3. Forecast Summary
- 3.1 Issuer Fraud Prevention Forecast Summary
- 3.1.1 Number of Bank and Other Financial Institutions Using Fraud Detection & Prevention Solutions
- Figure & Table 3.1: Total Number of Banks and Financial Institutions Using Fraud Detection & Prevention Solutions (m), Split by 8 Key Regions, 2024
- 3.1.2 Total Annual Spend on Fraud Detection & Prevention Solutions
- Figure & Table 3.2: Total Spend on Fraud Detection & prevention Solutions by Banks and Other Financial Institutions ($m), Split by 8 Key Regions, 2024-
- Table 3.3: Total Spend from Banks and Credit Unions Using Fraud Detection & Prevention Solutions ($m), Split by Company Vertical, 2024-
- 3.1.3 Total Number of Fraudulent Transactions across Banking and Money Transfer
- Figure & Table 3.4: Total Number of Fraudulent Transactions across Banking and Money Transfer (m), Split by 8 Key Regions 2024-
- 3.1.4 Total Value of Fraudulent Transactions across Banking and Money Transfer
- Figure & Table 3.5: Total Value of Fraudulent Transactions across Digital Banking and Money Transfer ($m), Split by 8 Key Regions, 2024-
- 4. Banks and Other Financial Institutions Spend
- 4.1 Banks and Credit Unions Fraud Detection & Prevention Spend
- 4.1.1 Number of Banks and Credit Unions Using Fraud Detection & Prevention Solutions
- Figure & Table 4.1: Total Number of Banks and Credit Unions Using Fraud Detection & Prevention Solutions (m), Split by 8 Key Regions, 2024-
- 4.1.2 Total Spend by Banks and Credit Unions on Fraud Detection & Prevention Solutions
- Figure & Table 4.2: Total Spend from Banks and Credit Unions Using Fraud Detection & Prevention Solutions ($m), Split by 8 Key Regions 2024-
- 4.2 Fintechs Fraud Detection & prevention Spend
- 4.2.1 Number of Fintechs Using Fraud Detection & Prevention Solutions
- Figure & Table 4.3: Total Number of Fintechs Using Fraud Detection & Prevention Solutions (m), Split by 8 Key Regions, 2024-
- 4.2.2 Total Spend by Fintechs on Fraud Detection & Prevention Solutions
- Figure & Table 4.4: Total Spend from Fintechs Using Fraud Detection & Prevention Solutions ($m), Split by 8 Key Regions 2024-
- 4.3 Investment Companies Fraud Detection & prevention Spend
- 4.3.1 Number of Investment Companies Using Fraud Detection & Prevention Solutions
- Figure & Table 4.5: Total Number of Investment Companies Using Fraud Detection & Prevention Solutions (m), Split by 8 Key Regions, 2024-
- 4.3.2 Total Spend by Investment Companies on Fraud Detection & Prevention Solutions
- Figure & Table 4.6: Total Spend from Investment Companies Using Fraud Detection & Prevention Solutions ($m), Split by 8 Key Regions, 2024-
- 4.4 Lenders Fraud Detection & prevention Spend
- 4.4.1 Number of Lenders Using Fraud Detection & Prevention Solutions
- Figure & Table 4.7: Total Number of Lenders Using Fraud Detection & Prevention Solutions (m), Split by 8 Key Regions, 2024-
- 4.4.2 Total Spend by Lenders on Fraud Detection & Prevention Solutions
- Figure & Table 4.8: Total Spend from Lenders Using Fraud Detection & Prevention Solutions ($m), Split by 8 Key Regions, 2024-
- 5. Fraudulent Transactions in Banking and Money Transfer
- 5.1 Fraudulent Transactions in Digital Banking
- 5.1.1 Total Number of Fraudulent Transactions in Digital Banking
- Figure & Table 5.1: Total Number of Fraudulent Transactions within Digital Banking (m), Split by 8 Key Regions, 2024-
- 5.1.2 Total Fraudulent Transaction Values in Digital Banking
- Figure & Table 5.2: Total Fraudulent Transaction Values in Digital Banking ($m), Split by 8 Key Regions, 2024
- 5.2 Fraudulent Transaction Rates in Money Transfer
- 5.2.1 Total Number of Fraudulent Transactions in Money Transfer
- Figure & Table 5.3: Total Number of Fraudulent Transactions within Money Transfer (m), Split by 8 Key Regions, 2024-
- 5.2.2 Total Fraudulent Transaction Values in Money Transfer
- Figure & Table 5.4: Total Fraudulent Transaction Values in Money Transfer ($m), Split by 8 Key Regions, 2024
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