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Global Fraud Detection & Prevention in Banking Market 2024-2029: Full Research Suite

Publisher Juniper Research
Published Jun 17, 2024
Length 114 Pages
SKU # JNRH19878053

Description

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.

Table of Contents

114 Pages
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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