Frost Radar: Fraud Detection and Prevention (Know Your Customer), 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

Consumers are a large and extremely vulnerable component of the cybersecurity equation. One of the most significant developments in this area during the COVID-19 pandemic was that enterprises accelerated their digital transformation efforts, although many struggled to put in place adequate security protocols and continue to patch their systems as new vulnerabilities emerge. The primary aim to ensure that products and services reach their intended target market only enhanced security issues. Many consumers are unaware of best practices for secure online behavior, and bad actors exploit this at every opportunity.

Stolen identities, account takeovers, malvertising, fraudulent transactions, and money laundering are only some of the problems that have escalated since the start of the pandemic. Fraud detection and prevention vendors are monitoring the risks closely and developing solutions that will help enterprises automate some part of their response despite limited resources.

Know-your-customer and know-your-user capabilities verify and authenticate legitimate users. This Frost Radar explores leading companies in the know-your-customer space. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar. The publication presents competitive profiles of each company on the Frost Radar considering their strengths and the opportunities that best fit those strengths.