Instances of #Fraud on the Rise, but are Matched by Robust Industry Responses; How FICO (NYSE: $FICO), Mobiquity Technologies (OTCQB: $MOBQ), NICE (NASDAQ: $NICE) and ACI (NASDAQ: $ACIW) are Providing Solutions - #Fraudetection
New York, NY and Delta, BC - February 5, 2018 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering technology stocks releases a snapshot looking at fraud detection and management solutions.
Research from Mordor Intelligence indicates that the global Fraud Detection and Prevention (FDP) Market will grow as high $29.07 billion USD by 2023. Another study, from Markets and Markets, puts the number even higher, projecting a value of $63.5 billion by 2023. Both cite online transactions, including cyber fraud, and payments fraud as key drivers for growth in the space.
Payments fraud resulting from payment cards losses, totaled $24.26 billion in the last year according to recent data. Analytical software firm FICO (NYSE:FICO) utilizes artificial intelligence in its Falcon Fraud Platform to analyze and protect payment card transactions. Alexandre Graff, Vice President of FICO in Latin America explained:
"Falcon is an artificial intelligence solution based on dozens of machine learning patents that excel at detecting transactional fraud. Falcon models are based on the largest data fraud consortium in the world, the Falcon Intelligence Network. Conductor will also offer omnichannel communication based on FICO Customer Communication Services, which further reduces false positives and takes user experience to a higher level. For example, when the system identifies abnormal behavior, it communicates directly with the user's preferred communication channel to confirm whether it is fraud or not."
Another sore spot is ad fraud, which was projected to have cost $19 billion last year - or 9 percent of total digital advertiser spending - and will total $44 billion by 2022, according to a survey from Juniper Research. Recently, Mobiquity Technologies, Inc. (OTC:MOBQ) responded to this with the release of its transparent ad fraud reporting system, AdCop, through its Advangelists platform.
According to a recent press release: "AdCop monitors for programmatic fraud post bid impression. If AdCop suspects fraud, the Advangelists platform renders a blank page instead of an advertiser's advertisement as a brand safety measure. In addition, the platform's comprehensive reporting provides advertisers and publishers full transparency and details around the fraud detected."
Advangelists CEO Deep Katyal explained that the company is currently giving away the beta program of AdCop for free.
"We believe so strongly in our product, that today, I'm excited to announce our free AdCop beta program," said Katyal. "Participating beta partners can monitor their ad campaign impression level fraud for free; they do not need to be a Client of Advangelists or purchase media through our platform."
Another firm addressing fraud detection and management via artificial intelligence is NICE, Ltd. (NasdaqGS:NICE), whose NICE Actimize division recently announced the IFM-X, its "next-generation Integrated Fraud Management (IFM) platform that leverages automation and machine learning to optimize effectiveness while reducing the total cost of implementing and operating an enterprise fraud risk management system". NICE Actimize CEO, Craig Costigan said:
"Rapidly changing demands in the fraud marketplace led NICE Actimize to develop the new IFM-X platform in response to our customers' challenging requirements," Costigan said. "This new platform unleashes the power of our market-leading fraud expertise coupled with expert-led machine learning technology to enable superior protection against constantly evolving and malicious fraud attacks."
ACI Worldwide, Inc. (NasdaqGS:ACIW) actually integrates fraud detection directly in their UP eCommerce Payments Solution. The award-winning cloud-based platform boasts sophisticated real-time fraud detection capabilities and prevents fraud while maintaining conversion rates. The seamless integration allows merchants to continue providing quality customer experiences while the fraud filter works in the background.
So, while data indicates that payment fraud is growing and ad fraud statistics are getting increasingly bleak, there is simultaneously a vigorous response coming from the FDP space. Katyal emphasizes the role of transparency in the space;
"Fraud hurts everyone in the industry. We believe programmatic media should be fully transparent, from cost transparency through to fully understanding the nature of fraudulent activity within your advertising partners."
For investors following tech stocks Investor Ideas has created a directory of publicly traded companies in the sector.
About Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto, technology including AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts#Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI.
Follow us on Social Media
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp. Disclosure: this news article featuring Mobiquity Technologies is a paid for service on Investorideas.com by a third party. Learn more about costs and our services https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Contact Investorideas.com
800-665-0411
HomelandDefenseStocks.com - investing ideas for Defense stocks, Biometrics stocks, Homeland security stocks, Biodefense stocks, Cyber security stocks
Like Defense and Security Stocks? View our Defense and Security Stocks Directory Get News Alerts on Defense Stocks
No comments:
Post a Comment