With the growing technology and AI that has made jobs easier
and completely changed the way businesses are conducted, there are enormous
amount of data that are generated along with numerous business transactions
made. All of these have paved way for fraud and they also paved way for its
prevention and detection. With the growing terrorism, criminals who are
professionals and other hackers who are growing in a large number who are
difficult to expose, follow or understand, fraud detection and prevention needs
to be approached in a comprehensive way to detect where the data is leaked or
find where the activities are detected as abnormal. Past fraudulent activities
show how cyber security breaches have enabled fraudulent activities.
To identify and stop fraud attacks and crimes, companies
proactively monitor transactions, use behavioural analytics with data
visualisation at all levels and employ security measures. Fraud detection and
prevention (FDP) are applications that provide analytical solutions to prevent
and detect fraud by analysing the outliers and report doubtful activities.
The report Global Fraud Detection and
Prevention Market- Technologies, Market share and Industry Forecast to 2024 gives
a detailed report on the market, industry analysis, size, share, growth,
trends, forecast to 2024 of the global market. The report gives detailed
insights on competitors framework and helps in making business decisions to
enter the market. The competitors on the global level are Aci Worldwide
(U.S.), Bae Systems (U.K.), Dxc Technology (U.S.), Experian Information
Solutions Inc. (U.S.), Fair Issac Corporation (U.S.), Fiserv Inc. (U.S.), Friss
(Netherlands), Ibm (U.S.), Lexisnexis (U.S.), Nice Systems Ltd. (Israel),
Oracle Corporation (U.S.), Sap (Germany), Sas Institute (U.S.), Threatmetrix
Inc. (U.S.) And Webroot Inc. (U.S.).
Due to the rise in the volume of data and its complexity, the
market for FDP is also increasing since the companies need to invest in fraud
preventing technologies. Technological advancements and
regulatory changes are also driving the demand for FDP market. The industry
faces the problems of high costs, low awareness and lack of pre – deployment
measures. The upcoming new tools and applications in visualisation with
customer and predictive analysis will drive the demand for FDP.
FDP solutions are used across various sectors ranging from
insurance, banking, telecommunications, government and financial services. The
demand is high in the end – use sectors like healthcare, banking and retail. In
the upcoming years, the highest demand will come from insurance, retail and
telecommunications sector.
For more information on the research
report, refer to below link:- https://www.kenresearch.com/technology-and-telecom/it-and-ites/global-fraud-detection-prevention/171807-105.html
