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Vendor Assessment: Industry Short List for Payments Fraud Management Software - The Move to Enterprise Fraud ManagementPublished by: IDC Published: Dec. 29, 2009 - 36 Pages Table of ContentsTable of Contents Financial Insights Opinion In This Report MethodologyMarket DefinitionMarket SizeVendors ReviewedSituation Overview Market TrendsWeights Applied to CriteriaFit to MarketFeature/Function: High Priority in Rapidly Changing Market — 2Scalability: Users — 0Scalability: Throughput — 0Integration Capability — 2Platform Support — 1Range of Services — 2Pricing Arrangements — 1Implementation Tools and Support — 2Ownership ConfidenceSupplier's Market Share — 1Supplier's Profitability — 1Supplier's R&D Investment Level — 1Customer Satisfaction with Implementation — 2Customer Satisfaction with Ongoing Support — 2How Vendors Are RatedEvaluating the VendorsIndustry Short List EvaluationsVendor ProfilesACI WorldwideActimizeFICOFidelity National Information ServicesFiservMemento SecurityThe RatingsOther Relevant Market PlayersOracle MantasRSASASBPC GroupNorkomDeticaFuture Outlook Essential Guidance Actions for Financial InstitutionsActions for Solution ProvidersLearn More Related ResearchMethodologyAppendixFit to Market Needs (X-Axis)Ownership Confidence (Y-Axis)SynopsisTable: Basic Functionality of Payments Fraud Management Software Table: Extended Functionality of Payments Fraud Management Software Table: Industry Short List for the Payments Fraud Management Software Market: Vendor Overview Table: Industry Short List for the Payments Fraud Management Software Market: Vendor Ratings for Fit to Market (X-Axis) Attributes Table: Industry Short List for the Payments Fraud Management Software Market: Vendor Ratings for Ownership Confidence (Y-Axis) Attributes Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Feature/Functionality Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Integration Capability Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Platform Support Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Range of Services Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Pricing Arrangements Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Implementation Tools and Support Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Supplier's Market Share Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Supplier's Profitability Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Research and Development Investment Level Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Customer Satisfaction with Implementation Table: Industry Short List for the Payments Fraud Management Software Market: Definition of Ratings for Customer Satisfaction with Ongoing Support Figure: Payments Participants Across Transaction Types Figure: Industry Short List for the Payments Fraud Management Software Market AbstractThis IDC Financial Insights report provides a detailed assessment and comparison of the payments fraud solutions provided by six leading vendors: ACI Worldwide, Actimize, FICO, Fidelity Information Services (FIS), Fiserv, and Memento Security. While all six had strong offerings, we found that implementation services and ongoing support were more important than in other markets, due to the extreme amount of data gathering and analysis required and the always evolving threat environment. Smaller firms must offer unique and compelling technology to offset the support resources of the larger providers. As attacks on payment system integrity grow ever more sophisticated, financial institutions are being forced to respond by drawing upon information from across their core systems and from payment networks, processors, other financial institutions, and retailers. Technologies developed for credit card fraud management are now being applied to other payment methods, such as debit cards, automated clearing house (ACH) payments, and wire transfers. New analytic techniques allow nonfinancial data, such as customer reference data and employee actions, to be utilized to identify likely fraud rings and "bust out" accounts that are constructed by fraudsters to appear normal until they can be used for a one-time, high-value attack. Automated case management tools are being enhanced to provide greater access to data within and outside the financial institution and increased workflow support to help fraud analysts work a larger number of cases. According to Aaron McPherson, practice director for Financial Services, "It is not enough to offer the best technology if the customer cannot make good use of it. Strong technical support and professional services are needed to ensure that clients are getting the maximum value from their investment." Get Full Details About This Report >> |
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