Market Overview:
The global financial fraud detection software market exhibited strong growth during 2015-2020. Financial fraud detection software (FFDS) refers to a technological solution used for monitoring and assigning risk scores to monetary transactions. It enables the users to detect fraudulent activities linked to financial and electronic payments conducted online. It involves the use of fraud and consumer analytics, multi-factor authentication, reporting and visualization solutions. The software aids in minimizing losses by reducing threat detection time, managing large data sets and using correlation to identify fraud patterns, unusual behaviors or unauthorized access to the network.
The increasing instances of cyberattacks, frauds and financial scams over the internet are among the key factors driving the growth of the market. FFDS is mainly used by organizations with online retailing and banking platforms to secure their operations and protect the sensitive data of consumers. For instance, the banking, financial services and insurance (BFSI) industry uses FFDS to secure mobile and internet banking platforms and prevent online transactions, insurance claims and card-related scams. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), big data, data analytics, predictive modeling, deep learning, cloud computing, machine learning and artificial intelligence (AI) solutions, are acting as other growth-inducing factors. These innovative technologies aid in bot detection and enforcement, access control, caching, threat intelligence, application program interface (API) and malware detection. Other factors, including improvements in the information technology (IT) infrastructure and extensive research and development (R&D) activities, are projected to drive the market further. Looking forward, IMARC Group expects the global financial fraud detection software market to grow at a CAGR of around 15% during the forecast period (2021-2026).
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global financial fraud detection software market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type and end user.
Breakup by Type:
- Identity Theft
- Wire Transfer Frauds
- Claim Frauds
- Money Laundering
- Subscription Frauds
- Credit and Debit Card Frauds
Breakup by End User:
- BFSI
- Healthcare
- IT and Telecommunication
- Manufacturing
- Educational Institutions
- Government
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ACI Worldwide Inc., BioCatch , CipherCloud Inc. (Lookout Inc.), Experian Information Solutions Inc (Experian plc), Kount Inc, Oracle Corporation, Riskified Ltd., SAS Institute Inc, Signifyd Inc., Thales Group and ValidSoft.
Key Questions Answered in This Report:
- How has the global financial fraud detection software market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global financial fraud detection software market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global financial fraud detection software market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Financial Fraud Detection Software Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Identity Theft
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Wire Transfer Frauds
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Claim Frauds
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Money Laundering
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Subscription Frauds
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Credit and Debit Card Frauds
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by End User
7.1 BFSI
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Healthcare
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 IT and Telecommunication
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Manufacturing
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Educational Institutions
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Government
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Others
7.7.1 Market Trends
7.7.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 ACI Worldwide Inc.
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 BioCatch
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.3 CipherCloud Inc. (Lookout Inc.)
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 Experian Information Solutions Inc (Experian plc)
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Kount Inc
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Oracle Corporation
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.6.4 SWOT Analysis
13.3.7 Riskified Ltd.
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.8 SAS Institute Inc
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.8.3 SWOT Analysis
13.3.9 Signifyd Inc.
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.10 Thales Group
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 Financials
13.3.10.4 SWOT Analysis
13.3.11 ValidSoft
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
List of Figures
Figure 1: Global: Financial Fraud Detection Software Market: Major Drivers and Challenges
Figure 2: Global: Financial Fraud Detection Software Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Financial Fraud Detection Software Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Financial Fraud Detection Software Market: Breakup by Type (in %), 2020
Figure 5: Global: Financial Fraud Detection Software Market: Breakup by End User (in %), 2020
Figure 6: Global: Financial Fraud Detection Software Market: Breakup by Region (in %), 2020
Figure 7: Global: Financial Fraud Detection Software (Identity Theft) Market: Sales Value (in Million US$), 2015 & 2020
Figure 8: Global: Financial Fraud Detection Software (Identity Theft) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: Global: Financial Fraud Detection Software (Wire Transfer Frauds) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Financial Fraud Detection Software (Wire Transfer Frauds) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Financial Fraud Detection Software (Claim Frauds) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Financial Fraud Detection Software (Claim Frauds) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Financial Fraud Detection Software (Money Laundering) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Financial Fraud Detection Software (Money Laundering) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Financial Fraud Detection Software (Subscription Frauds) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Financial Fraud Detection Software (Subscription Frauds) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Financial Fraud Detection Software (Credit and Debit Card Frauds) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Financial Fraud Detection Software (Credit and Debit Card Frauds) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Financial Fraud Detection Software (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Financial Fraud Detection Software (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Financial Fraud Detection Software (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Financial Fraud Detection Software (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Financial Fraud Detection Software (IT and Telecommunication) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Financial Fraud Detection Software (IT and Telecommunication) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Financial Fraud Detection Software (Manufacturing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Financial Fraud Detection Software (Manufacturing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Financial Fraud Detection Software (Educational Institutions) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Financial Fraud Detection Software (Educational Institutions) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Financial Fraud Detection Software (Government) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Financial Fraud Detection Software (Government) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Financial Fraud Detection Software (Other End Users) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Financial Fraud Detection Software (Other End Users) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: North America: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: North America: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: United States: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: United States: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Canada: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Canada: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Asia-Pacific: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Asia-Pacific: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: China: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: China: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Japan: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Japan: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: India: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: India: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: South Korea: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: South Korea: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Australia: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Australia: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Indonesia: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Indonesia: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Others: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Others: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Europe: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Europe: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Germany: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Germany: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: France: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: France: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: United Kingdom: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: United Kingdom: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Italy: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Italy: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Spain: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Spain: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Russia: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Russia: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Others: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Others: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Latin America: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Latin America: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Brazil: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Brazil: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Mexico: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Mexico: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Others: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Others: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Middle East and Africa: Financial Fraud Detection Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Middle East and Africa: Financial Fraud Detection Software Market: Breakup by Country (in %), 2020
Figure 81: Middle East and Africa: Financial Fraud Detection Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 82: Global: Financial Fraud Detection Software Industry: SWOT Analysis
Figure 83: Global: Financial Fraud Detection Software Industry: Value Chain Analysis
Figure 84: Global: Financial Fraud Detection Software Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Financial Fraud Detection Software Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Financial Fraud Detection Software Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Global: Financial Fraud Detection Software Market Forecast: Breakup by End User (in Million US$), 2021-2026
Table 4: Global: Financial Fraud Detection Software Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: Global: Financial Fraud Detection Software Market: Competitive Structure
Table 6: Global: Financial Fraud Detection Software Market: Key Players