Fraud Detection Software

TrustRadius Top Rated for 2023

Top Rated Products

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1
Riskified

Riskified, headquartered in Tel Aviv, helps businesses to realize the potential of eCommerce by making it safe, accessible, and frictionless. Their eponymous platform allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits…

2
Midigator, an Equifax Company

Midigator provides a chargeback management approach with the goal of protecting the user's revenue in the most efficient way possible, displacing time-consuming and error-prone processes associated with chargebacks. Midigator's strategy includes: - Preventing chargebacks - Fighting…

3
D&B Finance Analytics

D&B Finance Analytics is a global credit-to-cash solution that provides Dun & Bradstreet data, analytics, and technology to help improve cash flow, increase operational efficiency, and mitigate risk. This AI-driven solution comprises two platforms – D&B Credit Intelligence…

All Products

(26-50 of 245)

26
Agreement Express

Agreement Express provides a solution to accelerate merchant boarding and drive scalable risk underwriting. The Merchant ScanXpress solution is designed for Wholesale ISOs, payment facilitators and ISVs to customize their scoring model based on their unique business needs across…

27
TransUnion TruValidate

TruValidate fraud prevention and identity proofing products that secure trust across channels and deliver seamless experiences for consumers. In addition to all of TransUnion’s fraud products, TruValidate has expanded to include all fraud offerings from Neustar.

28
Sift Digital Trust & Safety Suite

Sift Science headquartered in San Francisco offers their software, Machine Learning and Device Fingerprinting, for fraud detection and prevention, priced per services added and volume of devices and orders checked.

Explore recently added products

29
Wolters Kluwer OneSumX

OneSumX, from Wolters Kluwer, is a product line providing compliance management, risk management, and financial crime control.

30
Equifax Credit Risk

Equifax Credit Risk Insight helps lenders build models help monitor delinquency, default, loss severity and mortgage borrower credit health trends at the loan level, across zip codes, vintages and market segments.

31
Fraud.net Email Sheild

Email Shield is a cloud-based email security add-in, which helps businesses across various industry verticals such as banking, fintech, eCommerce, government, mobile, travel, gaming, telecommunications and more, prevent email-based fraud attempts and receive fraud risk scores and…

32
Transmit Security CIAM Platform

Transmit Security headquartered in Boston offers their identity orchestration solution, providing strong customer authentication and authorization for entities that need it.

33
INEO
0 reviews

INEO (formerly Lending Solution) offers anti-fraud and digital onboarding services built in to its financial services CRM. INEO solutions support both in presence and remote customer onboarding, with an omnichannel approach and management of customers and integrating the various…

34
Verosint
0 reviews

Verosint’s online fraud detection and prevention platform helps digital businesses to serve customers with less friction and stronger account security. Verosint presents itself as a team of anti-fraud agents, data scientists, identity experts and risk and cybersecurity professionals…

35
NoFraud
0 reviews

NoFraud is an eCommerce fraud prevention and checkout solution that protects businesses from fraudsters, eliminates chargeback losses, and provides smoother, more frictionless checkout experiences for trusted shoppers.

36
Cellusys Protect

Cellusys Protect is a solution for comprehensive cross-protocol signalling security solution using advanced internal correlation to mitigate complex threat scenarios. It protects network against malicious attacks in every layer, and in every message.

37
Blockpass
0 reviews

Blockpass is a self-sovereign Identity Portal for regulated industries and the Internet of Everything, from the company of the same name headquartered in Hong Kong. Through the use of Ethereum and smart contracts, Blockpass is a Regtech platform offering shared regulatory and compliance…

38
Synaps.io
0 reviews

Synaps verifies identities online, offering universal digital identity and reusably know your customer (KYC). They help customers meet their compliance requirements while helping users decentralize their identity to get a frictionless and borderless experience in web3.

39
HUMAN MediaGuard

Using detection techniques, hacker intelligence, and collective protection across the internet, HUMAN detects and defeats bot attacks and fraud. By leveraging actionable insights, HUMAN offers a click fraud solution designed to ensure only real humans will interact with digital…

40
Bureau ID
0 reviews

Bureau provides a no-code identity and risk orchestration platform that aims to helps users create fraud-free customer interactions for the entire customer journey. Bureau delivers an API platform that allows users to drag and drop custom risk rules tailored to their industry needs.…

41
fcase by Fraud.com

Fraud.com offers fcase fraud detection and prevention platform, enabling a centralised response to threats via a fraud orchestration mission control. fcase provides a method of connecting fraud tools and related systems, closing the gaps between anti-fraud, cyber, and customer service.…

42
Akamai Account Protector

Akamai Account Protector is a fraud prevention solution focused on stopping account takeover. The solution is designed to detect the subtle anomalies of imposters, and automatically flag requests from entities with a history of bad behavior to protect the enterprise's reputation.

43
Clari5 Loan Origination and Monitoring

Clari5 Loan Origination and Monitoring is a data analytics solution that identifies the best potential loan customers and monitors each loan throughout the loan term while simultaneously detecting loan fraud.

44
Tecalis Anti-Fraud Controls

Tecalis Anti-Fraud Controls help users to establish automated risk management and data handling processes to prevent fraud on all channels. It provides OCR based data extraction with no human intervention while processing identifying documents.

45
Minds Digital
0 reviews

Minds Digital headquartered in Sao Paulo helps businesses analyze, understand, and predict suspicious behaviors from users warning them on a pro-active way, reducing time and cost of these processes and increasing transaction security. Their suite encompasses voice biometric…

46
Heimdal Email Fraud Prevention

Heimdal Email Fraud Prevention is a communications protection system which alerts users to fraud attempts, business email compromise (BEC) and impersonation, preventing transmission of dangerous emails.

47
SenseText
0 reviews

SenseText is an adaptive machine learning fraud detection platform that helps enterprise employees to detect suspicious messages and emails quickly using a simple fraud risk score. At each workstation, the solution aims to protect customers from cyber fraud, intelligently reducing…

48
PwC Detection and Monitoring Hub

Detection and Monitoring Hub, a PwC Product, identifies compliance insights, such as fraud and corruption, while learning from monitoring results. Users can target high-risk activities in rapidly changing markets and allocate resources accordingly through the application of advanced…

49
Fraudio
0 reviews

Fraudio is a cloud-based, SaaS solution designed to fight complex payment fraud and financial crime by using artificial intelligence, machine learning and multi-dataset network effects.Latest Generation in Fraud Detection & Prevention technologySo far there are three generations…

50
Vynamic Security Fraud Detection

Diebold Nixdorf offers Vynamic Security Fraud Detection application, protecting ATM transactions, multi-channel POS transactions, and providing anti-money laundering security to financial institutions and retailers.

Learn More About Fraud Detection Software

What is Fraud Detection Software?

Fraud detection software automatically monitors transactions and events in real time to detect and prevent fraudulent activities occurring in-house, online or in-store. It prevents improper access to sensitive company and customer data. The suspect transaction or event is flagged and can be manually reviewed through an investigative dashboard.

Fraud detection software prevents illegitimate activities related to payments, purchases, and chargebacks. It is used to secure web, mobile and phone based financial transactions. The software helps prevent digital payment fraud, and account takeover by validating identities sometimes employing two step authentications, and by identifying malicious logins, and bot activity.

Click fraud software is used by online advertisers to identify and block malicious and non-converting traffic. Fraud detection software is also used to prevent insurance fraud, and money laundering. The software helps ensure compliance with security and data privacy regulations.

The software can monitor internal and external data, employees, customers, transactions, events, and databases. Detection and prevention are based upon rules or predictive models.

Fraud detection software increasingly uses AI for Predictive Analytics which identifies fraud patterns Ai is also employed for Customer Analytics which detects deviations from a customer’s usual behavior and Social Media Analytics which gathers information from social media and blogs. These patterns are analyzed to help identify fraudulent behavior.

In the future behavioral biometric capabilities will be readily incorporated into fraud detection software. This entails analyzing a user’s mouse gestures, typing speed and pattern to detect deviations from the norm as an indicator of potentially fraudulent activity. Real-time biometric analysis will prevent identity theft and account takeovers.

Fraud Detection Software Features

· Data security and privacy regulations compliance· Real-time fraud monitoring of internal and external data, employees, customers, transactions, events, and databases.· Real time transaction screening and review· Pattern recognition / Anomaly detection· Custom fraud parameters – establish organization specific parameters and thresholds to trigger fraud prevention actions· Investigations· Security management – manage role-based user access to transactional data to prevent tampering or hacking· Internal fraud monitoring – review of internal actions to determine need for investigation

Fraud Detection Software Comparison

Consider the following when purchasing fraud detection software.

Use Case – What kind of business or organization will be using this software? Banks and financial institutions, eCommerce and online retail, physical and in-person services, will all have different challenges when it comes to fraud prevention. Some fraud tools are specialized to support those needs, other vendor offerings are generalized to support a wide range of industries.

For Financial Fraud Protection – It is essential that the product has the capability to perform real-time analysis to flag suspicious activities as they occur and to take the appropriate actions.

Dashboards – a robust dashboard provides the capability to review transactions, identify patterns, provide insights, and make informed decisions.

Pricing Information

Pricing is driven by the number of transactions/queries, validation and grouping rules supported, features provided and level of customer support. Basic plans range from $25 to $1,000 a month. Some enterprise plans begin at $1250 a month. Licenses can cost $49,000 or more. Many vendors require a quote for their product and services.

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Frequently Asked Questions

What does Fraud Detection Software do?

Fraud detection software prevents fraudulent activities related to accounts, payments, and purchases by reviewing transactions, and events in real time to detect fraudulent activities. It helps protect sensitive company and customer data.

What are the benefits of using Fraud Detection Software?

Financial – It protects against revenue loss by identifying fraudulent transactions and minimizing false declines.

Security – It prevents access to sensitive customer and company data and prevents account takeovers.

Brand Reputation – When an organization is exposed to fraudulent activities, its reputation can suffer as there can be a loss of trust. Minimizing this exposure protects the brand.

Customer Experience – Proper use of automated fraud protection software will seamlessly approve legitimate customer transactions in a timely manner.

What are the best Fraud Detection Software products?

How much does Fraud Detection Software cost?

Pricing is driven by the number of transactions, validation rules supported, features provided and level of customer support. Basic plans range from $25 to $1,000 a month. Many vendors require a quote for their product and services.