What is Financial Fraud Detection Software Market?
Financial Fraud Detection software assists in the prevention of fraud, counterfeiting, embezzlement, and other financial system violations. Fraud detection software is a solution that combines machine learning and stream computing to create a model. This model examines a client's previous data in order to identify potential fraud trends. Financial fraud detection software helps to reduce losses by reducing detection time, managing large data sets, and identifying fraud patterns or suspicious activities by correlation.
The market study is being classified and major geographies with country level break-up.
Riskified (United States), Verafin (Canada), EastNets (United States), SEKUR.me (United States), Safe Banking Systems Software LLC (United States), Signifyd (United States), Banker's Toolbox (United States), ACI Worldwide (United States), CipherCloud (United States), Cellent Finance Solutions (Germany) and Gemalto NV (Netherlands) are some of the key players profiled in the study.
The market of Financial Fraud Detection Software is expected to grow with rising demand from end use industries like BFSI, Telecommunication, Healthcare, and Others. Market specifically witnessing huge demand owing to rising Cybersecurity concerns. There are various companies are operating in the market to provides excellent Financial Fraud Detection Software to end-use industries. Financial Fraud Detection Software has huge potential for growth as the demand for fraud detection and analysis continues to rise. Major players in the industry are gaining attention from the market. There are various market players are entering this industry to capture market growth opportunities. The market leaders are investing in organic and non-organic strategic growth initiatives to become dominant in this industry. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Financial Fraud Detection Software market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Financial Fraud Detection Software market by Type, Application and Region.
On the basis of geography, the market of Financial Fraud Detection Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Cases of Fraud Activities Across Industries
- Rising Electronics Transaction Across Various System
- Growing Use of Big Data Analytics in Fraud Detection
- Infrastructure Demand before the Deployment of this Software
- Low Level of Awareness
- Rising Artificial Intelligence and Machine Learning Activities
- Massive Investment in Cyber-security Fueled by Government Support
In Nov 2019, Financial services technology leader FIS announced that it has integrated the IBM Safer Payments solution with its P2P (person-to-person) services to better help U.S. financial institutions prevent fraud on real-time P2P payment services.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Financial Fraud Detection Software Provider, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Financial Fraud Detection Software Market?
"Growing Cases of Fraud Activities Across Industries
" is seen as one of major growth factors of Financial Fraud Detection Software Market in years to come.
2. Can we have customized study for Financial Fraud Detection Software Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.