Global Fraud Analytics Market & Its Impact on Customer Service Industry

Decisive markets Insights following a Strategic Market Research has published a new report on Fraud analytics market. It integrates human interaction with analytical technology and techniques to identify potential improper transactions, such as those based on fraud and bribery before the transactions are completed or are still in progress.
Analyzing relevant data for patterns, anomalies and discrepancies is a key step in fraud analytics. The results are then transformed into insights which can help a business manage potential threat before they happen and create a proactive fraud & bribery detection environment.

Every year, more people use online banking or manage their finances online. In 2020, the global lockdown caused by COVID-19 persuaded more customers to use online banking for financial transactions. Account takeover (ATO), a common type of financial fraud, increased by more than 280 percent between 2019 and 2020. To safeguard the accounts of their customers, financial institutions must take comprehensive fraud management measures more than ever.

In order to get the copy of the updated sample, click on the link below:
https://www.decisivemarketsinsights.com/fraud-analytics-market/96669903/request-sample

Challenge of financial fraud
Banks and other financial institutions must guard their client's personal information and financial assets against fraud and outright theft. It has become a complex task because customers can access their accounts through multiple channels. Customers can use a mobile banking app, an online banking portal, a call to the call center, or even go in person to the bank to conduct their banking transactions.

The amount of stolen credentials that fraudsters have access to is remarkable. As stated by the Research Head of Decisive Markets Insights Sunil Kumar Chhabra, on the dark web, there are over 15 billion stolen credentials for sale. Cybercriminals can buy them for $15.43 on average for consumer credentials and up to $3,139 on average for access to a company's critical systems. The above stats are extracted by Sunil Chabra post careful due diligence and following a strategic market research process.

In order to enquiry of the updated sample, click on the link below:
https://www.decisivemarketsinsights.com/fraud-analytics-market/96669903/pre-order-enquiry

Benefits of fraud analytics
Financial institutions will benefit significantly from fraud analytics.
Rules-based systems and other tools can be strengthened by analytics tools, improving detection and controls over time. In other words, analytics enables fraud leaders to maximize the potential of their data and current technology.

Analytics makes it simpler and quicker to discover hidden patterns. This approach can find patterns that would have gone undetected by analyzing even the smallest amount of data.

In order to buy the first hand copy of the report, click on the link below:
https://www.decisivemarketsinsights.com/fraud-analytics-market/96669903/buy-now

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This release was published on openPR.