Trends in Financial Fraud Detection Software Market 2023 by Production Market Analysis and Regional Market Performance

Houston, TX -- (SBWire) -- 04/19/2018 --Fraud is an illegal act which involves unjustifiably claiming something valuable. Financial Fraud is an issue with widespread consequences in the financial service industry, government, and corporate sectors. Hence financial institutions need a real- time automated system to detect fraud across multiple channels and transactions every day. With the rise of big data analytics, traditional methods of fraud detection such as manual detection appear inaccurate and more importantly time consuming. Hence, enterprises today invest in financial fraud detection software which integrate statistical and computational methods and big data analytics. Fraud detection software is a solution which consists of a model built by machine learning methods and stream computing. This model analyses client's past data to detect possible fraud patterns. Financial fraud detection software supports in minimizing losses by reducing detection time, manage massive data sets and use correlation to identify fraud patterns or unusual behaviors.

Increasing growth in internet transactions, growing fraudulent activities, and raising mobile banking transactions are some of the factors boosting the market growth. In addition, recent developments in fraud detection software, raising adoption of big data analytics are propelling the market growth. However, lack of skilled professionals, high deployment of software costs is impeding the market growth.

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Top Key Vendors:
SAS, ACTICO GmbH, Oracle, Gemalto, Signifyd, Iovation, Global Vision Systems, Kount Inc., FraudLabs Pro, WizSoft, NCR Limited, MaxMind, Scorto, Kris FinSoftware , ThreatMetrix, Accertify, Entrust, Digital Resolve, Fiserv, ARGO.

Financial Fraud Detection Software Market can be segmented on the basis of end user, deployment type, and region. On the basis of end user it can further segmented into financial enterprises, educational institutions, healthcare, government, and manufacturing sectors. Deployment type category includes money laundering, identity theft, credit/debit card fraud, wire transfer fraud, subscription frauds and claim frauds. Region wise, Financial Fraud Detection Software Market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe, and Middle East & Africa.

The development of the new technologies was made in order to ease down the manual work in the organizations. The use of the solutions provided by the cloud services has become the choice of the organizations to a handle huge amount of digital data. But, then it has also increased the chances of fraud as access to the digital data is made possible. This factor has, therefore, become the key factor for the development of the financial fraud detection software. The main reason why these types of frauds are committed is for the monetary benefits, which results in the fall of the organization's revenue. To resolve these types of issues the financial fraud detection software is used widely.

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Table Of Content:

Chapter 1 Financial Fraud Detection Software Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

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