Fraud threats continue to rise across the globe as fraudsters take advantage of rapidly shifting economic conditions. KuppingerCole Analysts’ most recent report, Leadership Compass: Fraud Reduction Intelligence Platforms, provides an overview of the market segment, vendor service functionality, prevention measures and innovative solutions to fraud. The report cites Experian as an overall leader, product leader, innovation leader, market leader and technology leader in fraud reduction intelligence platforms.
“Fraud prevention remains a top concern for businesses and consumers alike,” said David Britton, Experian’s Vice President of Industry Solutions, Global Identity & Fraud. “In order to provide a safe and convenient experience, businesses need to take a customer-first approach when evaluating the latest technology and solutions available to them.”
Experian scored a strong positive for interoperability, usability, deployment, innovativeness, market position, financial strength and ecosystem; and a positive in security and functionality. Experian was also noted for its strength in digital identity protection services.
“With the surge in online fraud threats as consumers flooded digital channels over the past 18 months, it’s critical to anticipate future fraud risks and companies are adopting more complex technology systems to respond to today’s emerging fraudulent risks,” added Britton.
To ensure they are providing secure online experiences, businesses are turning to verification strategies using data technology and other detection methods. In fact, according to this year’s Global Identity and Fraud Report, customer recognition security strategies have become the new norm for businesses with 82 percent of companies saying they now have one in place, a 26 percent increase since the start of the pandemic.
According to the report, rather than delivering a constant flow of new releases, Experian is credited for taking a client-oriented upgrade approach and delivering other cutting-edge features while maintaining compatibility with older releases. Experian is also identified as a market champion, having one of the strongest alignments between product capabilities and uptake by clients.
All of Experian’s fraud detection and prevention services are available through Experian’s CrossCore® partner ecosystem. Combining advanced analytics, rich data assets, identity insights and fraud prevention capabilities, businesses can connect any new or existing tools and systems in one place, whether it be Experian’s, Experian’s partners or its own. With its built-in strategy design and enhanced workflow, fraud and compliance teams have more control to quickly adjust strategies based on evolving threats and business needs, which helps to improve efficiency and reduce operational costs. Learn more about the CrossCore platform.
Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car to sending a child to college to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 17,800 people operating across 45 countries, and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.