Top 10 Financial Fraud Detection Solution Companies - 2019

The Quintessential Technology Source for Corporate Financial Professionals

CA Technologies: Curbing Digital Fraud through Analytics

Top 10 Financial Fraud Detection Solution Companies - 2019

Fraud is pervasive; financial services institutions have been bogged down with fraud issues for ages now. In its latest report, security company McAfee estimates that cybercrime currently costs the global economy approximately $600 billion, or 0.8 percent of global gross domestic product. At this juncture, fraud detection in banking is a critical need that can span a series of fraud schemes and fraudulent activity from bank employees and customers alike.

 Many organizations are developing automated and generalized predictive algorithms that specialize in matching customers and products to fight against financial frauds. Developers are also implementing deep learning techniques to create user and transaction fingerprints for identifying underlying relationships between data points for monitoring behavior patterns, enabling unusual transaction detection.

 When it comes to financial risk mitigation, the ability to detect fraud in real-time can dramatically improve the customer experience. This is why banks and financial institutions are turning to advanced artificial intelligence (AI) based solutions. By dynamically conducting fund flow analytics in real-time, such solutions can effectively pinpoint fraudulent transactions, while reducing the possibility of false positives as well as false negatives. Another widely adopted way to approach the issue of fraud detection is using AI-based predictive modeling, by collecting and analyzing historical data to anticipate an event correctly.

To help CEOs, CTOs, and CIOs find the right financial fraud detection solutions provider, a distinguished selection panel comprising of CEOs, CIOs, VCs, industry analysts, and CFO Tech Outlook’s editorial board has selected a list of organizations that exhibit innovative features and service strategies. We have considered the vendor’s ability in delivering solutions and services that can effectively yet economically account for a secure fraud detection offering. We present to you “Top 10 Financial Fraud Detection Solution Providers - 2019.”

    Top Financial Fraud Detection Solution Companies

  • Provides market-leading compliance, credit risk, and lending solutions to enable its customers to manage risk and drive growth

  • Specializes in developing software that fuels transformation for companies and enables them to seize the opportunities of the application economy

  • eConnect is known for its finesse in developing solutions that deliver actionable information to gaming and hospitality organizations

  • Aids financial and banking institutions with OrboAnywhere combining image analysis, self-learning and AI to reduce fraud in transactions

  • Accertify


    Accertify’s comprehensive portfolio of fraud management solutions puts financial organizations in control to identify and prevent account takeovers, account originations schemes, and payment fraud. The company utilizes the collective intelligence of its team (and community) to help clients configure a solution that meets their organization-specific needs. Formed in 2007, Accertify brought together the smartest, most innovative engineers, analysts, designers and thought leaders operating online to help e-commerce merchants thrive. Today, the company is a wholly owned subsidiary of American Express and a leading provider of fraud prevention, chargeback management, and payment gateway solutions

  • CashShield


    Founded in 2008, CashShield is an established end-to-end fraud management solution that blocks fraudulent activities such as account takeovers, fake accounts creation, fraudulent payments, loyalty fraud, and more. Profiling over 5 billion devices and transactions across the globe annually, CashShield leverages artificial intelligence to automate blocking of fraud in real-time, enabling our clients to stay ahead of fraud attacks. CashShield has established itself as a brand that is trusted by leading enterprises and governments worldwide. CashShield’s expertise is spread across industries such as e-Wallet, super app, e-Commerce, marketplace, digital goods, mobile recharge, travel, luxury amongst others.

  • ClearSale


    ClearSale is a Florida-based global pioneer and proven leader in fraud protection solutions with over 16 years of experience in adapting to the most diverse countries and markets, offering experience, size and flexibility to scale any operation. The company offers a fully outsourced card-not-present fraud solution that is compatible with numerous widely-used gateways, shopping carts, order management systems, payment processors and acquirers, allowing merchants to connect with minimal development time and effort needed. With ClearSale’s CNP fraud solution, organisations can reduce e-commerce fraud and chargebacks, increase approval rates, and retain their customers.

  • Cognive


    Cognive is a data science and machine-intelligence software company focused on financial crime compliance

  • Ethoca


    Ethoca is a financial fraud detection solution provider who focuses on closing information gap and giving merchants an unprecedented opportunity to stop fraud and chargebacks before they happen

  • Fallcatcher


    Provides biometric solutions to prevent healthcare insurance fraud and reduce opioid addiction