About Anti-Fraud Management Systems
The Anti-Fraud Management System provides the tools to assess, control and prevention financial and other data related fraud. According to study in 2018, 51 % of Americans think that online shopping is the best option. As per this study, 1.66 billion people worldwide bought goods online in 2017. Thus many of enterprises are providing their services through online platforms. However, rising sales also leads to bigger losses due to fraud. A fraud detection and prevention system is the central part of fraud risk management strategy. Company choose software that works excellent for their workflow and functions. This management systems includes Industry-leading data analytics and machine learning. Geographically, North America is anticipated to be the largest contributor for the market growth. North America is one of the most affected regions in the world by money laundering and terrorist financing crime activities. However, it is technologically advanced region followed by Europe.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market of Anti-fraud management system 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 Cyber security concerns. There are various companies are operating in the market to provides excellent Anti-fraud management system to end use industries. Anti-fraud management system has huge potential for growth as the demand for fraud detection and analysis is continue to rise. Major players in the industry are gaining attention from the market. There are various market players are entering in this industry to capture market growth opportunities. The market leaders are investing on organic and non-organic strategic growth initiatives to become dominant in this industry. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Anti-Fraud Management Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AltexSoft (United States), SAS Institute Inc. (United States), Sift (United States), Kount (United States), Markmonitor (United States), ClearSale (United States), Fraud.net (United States), ThreatMetrix (United States), iovation (United States), Forter (United States), Riskified (United States) and Nvoicepay (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Anti-Fraud Management Systems market by Type (Fraud Detection, Fraud Analysis and Others), Application (Insurance Claims, Risk analysis and aversion, Money Laundering, Fraud monitoring and prevention and Others) and Region.
On the basis of geography, the market of Anti-Fraud Management Systems 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). If we see Market by Deployment Type, the sub-segment i.e. Cloud will boost the Anti-Fraud Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fraud Management Systems, the sub-segment i.e. Comprehensive fraud systems will boost the Anti-Fraud Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Governments will boost the Anti-Fraud Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size, the sub-segment i.e. SMEs will boost the Anti-Fraud Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Inclination towards the Use of Hybrid Model of Advanced Analytical Techniques rather than Traditional
Market Growth Drivers:
Growing Adoption of Wide Range of Anti-Fraud Management Systems Across Enterprise’s To Secures Their Essential Data and Digitization and Advancement in Technology Is Permitting Organizations to Adopts Technically Efficient Management Systems
Challenges:
Data Security Concern
Restraints:
Lack of Skilled Professionals for Handling and Complication in Integration of Anti-Fraud Management Systems
Opportunities:
Raised Adoption of Fraud Management Systems in the Banking and Financial Services Sector to Prevent Risks and Technological Advancements with AI & Machine Learning For Fraud Detection Has Created Ample Opportunities
In September 2019 Temenos has launched Temenos Peer Group Identifier. It is an AI-powered financial profiling tool to assist banks to focus their financial crime detection. This launch reinforces Temenos’ award-winning Financial Crime Mitigation (FCM) product which covers anti-money laundering, fraud prevention, and KYC security. This launch has strengthen the company’s portfolio which has impacted on growth profit margin positively.
Key Target Audience
Anti-fraud management system Manufacturers, Anti-fraud management system Suppliers and Distributors, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.