Card Fraud Detection Software: Enterprise and Transaction Solutions Converge

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Information about Card Fraud Detection Software: Enterprise and Transaction Solutions...
Business & Mgmt

Published on March 5, 2014

Author: mercatoradvisory

Source: slideshare.net

Description

Recent data breaches at major U.S. retailers have reinvigorated the discussion of how the payments industry can improve the way stakeholders protect card data. Issuers are completely rethinking how they handle fraud incident resolution while simultaneously managing an ever-expanding array of payment channels and a long-awaited shift to the EMV standard. These changes are having a noticeable impact on the vendors that provide financial institutions with fraud detection software. Mercator Advisory Group’s most recent report Card Fraud Detection Software: Enterprise and Transaction Solutions Converge examines how changing market dynamics are reflected in vendors’ fraud detection offerings. It reviews leading solutions from around the world and provides an assessment of the future state of U.S. issuers’ fraud detection efforts.

Card Fraud Detection Software: Enterprise and Transaction Solutions Converge March 2014

Card Fraud Detection Software: Enterprise and Transaction Solutions Converge Recent data breaches at major U.S. retailers have reinvigorated the discussion of how the payments industry can improve the way stakeholders protect card data. Issuers are completely rethinking how they handle fraud incident resolution while simultaneously managing an ever-expanding array of payment channels and a long-awaited shift to the EMV standard. These changes are having a noticeable impact on the vendors that provide financial institutions with fraud detection software. Mercator Advisory Group’s most recent report Card Fraud Detection Software: Enterprise and Transaction Solutions Converge examines how changing market dynamics are reflected in vendors’ fraud detection offerings. It reviews leading solutions from around the world and provides an assessment of the future state of U.S. issuers’ fraud detection efforts. 2014 Mercator Advisory Group

Michael Misasi Senior Analyst Credit Advisory Service Mercator Advisory Group “Competition in the U.S. market for card fraud detection solutions is about to ramp up, comments Michael Misasi, senior analyst at Mercator Advisory Group and author of the report. “Vendors that have traditionally served international markets or that have expertise in adjacent capabilities are taking aim at the mainstay solutions in the U.S. 2014 Mercator Advisory Group

Highlights of the full report • Overviews of 7 leading vendors of fraud detection software solutions and their products • Mercator Advisory Group’s most recent estimates for total credit U.S. card fraud • An analysis of how EMV changes the way issuers need to approach transaction scoring • A prognosis for best-of-breed solutions in a market that is moving toward enterprise-level fraud management • An outlook for how the payments industry can move forward from the recent data breaches at major U.S. retailers. 2014 Mercator Advisory Group

Figure 9: U.S. Cardholders’ Use of Mobile Alerts Use Alerts From Banking or Credit Card Providers 36% 38% (Base = Own mobile phone, excludes don’t know if use alerts) 32% 32% 17% 8% 8% 4% Use alerts E-mail SMS text* 2012 Alert to downloaded app* 2013 * Statistically significant difference 2012–2013 at 95% level. Source: Mercator Advisory Group’s 2013 CustomerMonitor Survey Series © 2014 Mercator Advisory Group 5

About the Full Report This report contains 22 pages and 10 exhibits. Companies mentioned in this report include: ACI WorldWide, Alaric, CompassPlus, FICO, NICE Actimize, ReD, SAS Members of Mercator Advisory Group’s Credit Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits. 2014 Mercator Advisory Group

About the Full Report For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700, send e-mail to info@mercatoradvisorygroup.com. For free industry news, opinions, research, company information and more visit us at www.PaymentsJournal.com. Follow us on Twitter @ http://twitter.com/MercatorAdvisor. 2014 Mercator Advisory Group

About Mercator Advisory Group Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com. 2014 Mercator Advisory Group

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