{"id":133559,"date":"2024-07-09T13:31:51","date_gmt":"2024-07-09T13:31:51","guid":{"rendered":"https:\/\/feedzai.com\/?p=133559"},"modified":"2024-07-22T15:20:52","modified_gmt":"2024-07-22T15:20:52","slug":"feedzai-is-a-leader-in-the-2024-idc-marketscape-for-enterprise-fraud-solutions","status":"publish","type":"post","link":"https:\/\/feedzai.com\/blog\/feedzai-is-a-leader-in-the-2024-idc-marketscape-for-enterprise-fraud-solutions\/","title":{"rendered":"Feedzai is a Leader in the 2024 IDC MarketScape for Enterprise Fraud Solutions"},"content":{"rendered":"
[vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”1″ bottom_padding=”2″ overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″][vc_column width=”1\/1″][vc_row_inner][vc_column_inner width=”1\/12″][\/vc_column_inner][vc_column_inner width=”10\/12″][vc_single_image media=”133561″ dynamic=”yes” media_width_percent=”100″ uncode_shortcode_id=”180215″][\/vc_column_inner][vc_column_inner width=”1\/12″][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_visibility=”yes” mobile_width=”0″ width=”2\/12″][\/vc_column_inner][vc_column_inner width=”8\/12″][vc_custom_heading heading_semantic=”h3″ text_size=”h3″ text_weight=”400″ uncode_shortcode_id=”734125″]Exciting news! Feedzai, the world\u2019s first RiskOps platform, is proud to have been named a Leader in IDC MarketScape: Worldwide Enterprise Fraud Solutions 2024 Vendor Assessment\u00a0 (March 2024, IDC #US51939124). This recognition is the latest recognition that we believe highlights our commitment to fraud prevention and safer, more secure commerce.\u00a0<\/span>[\/vc_custom_heading][vc_column_text uncode_shortcode_id=”138829″]Here\u2019s what the IDC MarketScape had to say about Feedzai.\u00a0<\/span>[\/vc_column_text][vc_single_image media=”133587″ media_width_percent=”100″ uncode_shortcode_id=”818198″ media_link=”url:https%3A%2F%2Fhubs.la%2FQ02FKtT_0|target:_blank”][vc_column_text uncode_shortcode_id=”931161″]<\/p>\n The IDC MarketScape report notes that our solution \u201cdesigned to be omnichannel, enabling its fraud solution to monitor different customer interaction methods. Feedzai utilizes real-time customer interaction and transaction data to increase accuracy and improve the customer experience.\u201d\u00a0<\/span><\/p>\n The report also notes, \u201cThe risk scoring process used by Feedzai is based on behavioral and transactional patterns that continuously learn and evolve over time, which is beneficial given the nature of fraud typologies to change rather quickly. Users of the Feedzai fraud solution can also adjust parameters and thresholds to better align with the business risk appetite of their financial institution.\u201d\u00a0<\/span><\/p>\n More than a one-size-fits-all approach is needed. Financial institutions need a fraud prevention solution tailored to their local geography, the most common fraud types they encounter, and the banking channels they utilize. The IDC MarketScape report noted, \u201cThe Feedzai fraud solution can also adjust fraud countermeasures with rules and machine learning models that can leverage data across all channels and geographies, enabling either a globally consistent approach or a regionally tailored approach to fraud prevention.\u201d\u00a0<\/span>[\/vc_column_text][vc_single_image media=”133582″ media_width_percent=”100″ uncode_shortcode_id=”169044″ el_class=”hide-in-desktop-tablet”][vc_single_image media=”133578″ media_width_percent=”100″ uncode_shortcode_id=”191580″ el_class=”hide-in-mobile”][vc_column_text uncode_shortcode_id=”655302″]<\/p>\n The IDC MarketScape report stated, \u201cFeedzai received the best rating from customers regarding total cost of ownership, possibly due to the contract option that structures part of Feedzai’s compensation to be based on a proportion of the reduction in fraud losses by using Feedzai’s fraud solution. This innovative approach to pricing its fraud solution may attract additional customers and provide a competitive edge.\u201d\u00a0<\/span><\/p>\n The market for fraud risk management solutions has expanded in recent years, incorporating new payment methods and types that require new fraud detection and prevention solutions. The IDC MarketScape report noted, \u201cThe marketplace for fraud risk management solutions has been growing in recent years, as the payments types and payment methods have expanded due to growing numbers of online retailers and financial technology companies that are involved in the payments process.\u201d\u00a0<\/span><\/p>\n \u201cFeedzai\u2019s solution offers an omnichannel approach to fraud prevention, a notable market <\/span>differentatior. Utilizing real-time customer interaction and transaction data enables financial <\/span>institutions to improve both accuracy and the customer experience,\u201d said <\/span>Thomas Shuster, Research Director, Capital Markets at IDC Financial Insights<\/span> at IDC. <\/span> This rise in fraud risk management solutions is necessary as bad actors increase and innovate their efforts. The US Federal Trade Commission recently reported that consumers lost over $10 billion USD to fraud and scams last year, with losses from investment scams greater than any other fraud or scam category.<\/span><\/p>\n We believe this latest recognition further solidifies Feedzai\u2019s position as a fraud prevention leader. We were recently named a Leading Contender in <\/span>Datos Insights\u2019 Behavioral Biometrics Market Analysis<\/span><\/a> for our groundbreaking work in behavioral biometrics and device fingerprinting. Our biometrics solution was also recognized in the <\/span>SPARK Matrix\u2122: Behavioral Biometrics, 2023<\/span><\/a> report from Quadrant Solutions. Meanwhile, the analytics firm Chartis named Feedzai <\/span>Best Enterprise Fraud Solution in RiskTech100<\/span><\/a>.\u00a0<\/span><\/p>\n We believe our most recent recognition from the IDC MarketScape reaffirms our commitment to making payments and commerce safer, more secure, and more convenient for everyone. We remain laser-focused on helping fraud analysts stay a step ahead of fraudsters by putting AI and machine learning at the forefront of fraud prevention efforts. We are committed to helping financial institutions protect their brands, bottom lines, and customers from fraud by rapidly detecting and responding to suspicious activities.<\/span>[\/vc_column_text][\/vc_column_inner][vc_column_inner column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_visibility=”yes” mobile_width=”0″ width=”2\/12″][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":" Exciting news! Feedzai, the world\u2019s first RiskOps platform, is proud to have been named a Leader in IDC MarketScape: Worldwide Enterprise Fraud Solutions 2024 Vendor Assessment (March 2024, IDC #US51939124). This recognition is the latest recognition that we believe highlights our commitment to fraud prevention and safer, more secure commerce. <\/p>\n","protected":false},"author":88,"featured_media":133569,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[76],"tags":[151,77],"acf":[],"yoast_head":"\nAn Omnichannel Approach to Fraud Prevention<\/span><\/h4>\n
Learning from Behavioral Digital Patterns<\/span><\/h4>\n
Flexible Rules for Different Channels and Regions<\/span><\/h4>\n
Innovative Pricing<\/span><\/h4>\n
About the IDC MarketScape Report\u00a0<\/span><\/h3>\n
\n<\/span>
\n<\/span>\u201cTheir dynamic risk-scoring process continuously evolves, adapting to new fraud tactics <\/span>and allowing institutions to adjust parameters to match their unique risk appetite. IDC\u2019s <\/span>recognition underscores Feedzai\u2019s commitment to keeping transactions safe and secure using <\/span>its tailored approach to fraud prevention.\u201d<\/span><\/p>\nFeedzai\u2019s Commitment to Safer Commerce<\/span><\/h3>\n