Fraudsters have followed consumers into the digital age and have exploited weaknesses in these systems. But a variety of commercial solutions offer ways to tell valid transactions from fraudulent ones. They are the backbone of nearly all financial institutions’ and a growing number of merchants’ efforts to protect themselves against financial loss.
This report examines the newer technologies emerging to finely tune FIs’ and merchants’ ability to increase fraud detection and minimize false transaction declines. It is based on Aite Group’s close monitoring of the fraud prevention industry and the many solution providers around the world as well as on conversations with financial institutions, merchants, and other industry participants that deploy these solutions.