Published: 12/10/2022

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“By 2025, 50% of new fraud detection solutions for banking will be customer-centric platforms deployed across products and channels, replacing multiple siloed solutions, for better customer experience and fraud detection.” – Gartner®

Banks are barraged constantly by cybercriminals. Fraud is lucrative, and attacks are growing in complexity. It’s vital banks maintain their vigilance by employing specialist fraud detection solutions to protect all channels.

However, anti-fraud products are often disparate and siloed within corporations, leaving gaps between solutions where fraudsters can strike. To succeed against aggressive and motivated attackers, banks must bring together their fraud detection functions in alignment with their wider strategy.

Netacea thinks this Gartner® report will help banks ask the right questions within their organizations before undertaking this important task, with the goal of delivering comprehensive fraud detection in a cost-effective fashion.

We believe this report recommends that security and risk managers responsible for fraud detection should:

  • Identify drivers to make a solid business case
  • Consolidate across products and channels by moving to customer-level fraud detection
  • Evaluate deployment models with an open mind
  • Seek clear differentiation between vendors with an effective RFP
  • Understand the benefits and constraints of a POC project

Buyer’s Guide for Fraud Detection in Banking

Gartner, Buyer’s Guide for Fraud Detection in Banking, By Akif Khan 11 January 2022

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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