Over the last few years, financial organizations are increasingly investing in robust cybersecurity tools and technologies. However, most of these solutions take weeks, if not months, to detect intrusions. As cyberattack tactics evolve, financial firms can no longer rely on outdated cybersecurity technology. Most cybersecurity solutions in the landscape tend to focus on narrow areas of security risk, as a result of which, they cannot scale up to enterprise-level fraud prevention. With the rising threat from cybercriminals and tightening compliance requirements from regulators, financial organizations must empower their cybersecurity strategies with robust solutions.
By streamlining the model development process, institutions can achieve a more agile response to flash fraud and zero-day threats. The utilization of advanced data science approaches enables organizations to identify and prevent fraud while also enhancing the quality of customer experience. In the current landscape, consequently, there is a need for high-performance analytics that can rapidly analyze vast amounts of data in a short period.
Additionally, emerging technologies such as AI and machine learning are also enhancing the capabilities of fraud detection technologies. Solutions based on these technologies can learn from existing data and detect variance to identify fraud and malware. The integration of robust financial fraud detection solutions will also enable analysts to get a more comprehensive view of the protected data and get alerts from various monitoring systems. They will be able to prioritize risks and automatically send alerts to the investigators based on the unique requirements of the financial organization. Further, to meet the needs of consumers as well as regulators, financial institutions also have to invest more thought when seeking fraud detection solutions and service providers.
To assist organizations in the task of finding accomplished fraud detection solution and service providers, we have compiled this issue of CFO Tech Outlook. It is elaborately crafted to assist you in fostering productive partnerships and improving performance. In this edition, we have listed the top 10 fraud detection solution providers and services companies to highlight the ones making significant contributions to financial fraud detection. Equipped with innovative technological capabilities, these providers are set to transform the fraud detection landscape. This edition also blends through thought leadership from subject-matter experts, CIOs, and CXOs, with real-life stories on how the solution providers and service companies have enhanced the capabilities of their clients. We hope this issue of CFO Tech Outlook helps you build the partnership you and your organization need to foster a workspace driven by robust and efficient technology.
We present to you CFO Tech Outlook, “Top 10 Financial Fraud Detection Companies – 2020,”
