15 Fraud Detection Software: Comprehensive List [2024 Update]
Cem DilmeganiWe have written extensively about fraud detection before. If you believe that your company needs a leading edge fraud detection solution, we list the major fraud detection vendors below.
Fraud Detection Companies Ecosystem
Tech giants
Tech giants like Experian are providing end-to-end fraud detection solutions. They have the advantage of having a large sales force and long term relationship with their customers and they have significant budgets to create competent solutions
AI Startups
Since 2000s startups are tackling various aspects of fraud. The first area of focus was to serve merchants which are easy to sell to as they are smaller e-commerce businesses. Later, with increased commercialization of AI, AI vendors started selling to merchants, acquirers and banks.
List of Fraud Detection Companies
| Company | Founded in | Number of employees | Merchants served | Acquirers served | Banks served |
|---|---|---|---|---|---|
| Ayasdi | 2008 | 101-250 | TRUE | TRUE Services provided: Model acceleration AML |
|
| Experian | 1980 | TRUE | TRUE | TRUE | |
| Feature Space | 2008 | 101-250 | TRUE | TRUE | |
| Feedzai | 2009 | 250-500 | TRUE | TRUE | TRUE (e.g. Lloyds Banking Group) |
| Forter | 2013 | 101-250 | TRUE | ||
| Fraud.net | 2013 | 11-25 | TRUE | ||
| Kensho | 2013 | 101-250 | TRUE | TRUE (Their analytics suite has been used for fraud detection) |
|
| Riskified | 2013 | 101-250 | TRUE | ||
| SecurionPay | 2014 | 1-10 | TRUE | ||
| Sift Science | 2011 | 101-250 | TRUE | ||
| Signifyd | 2011 | 101-250 | TRUE | ||
| Thetaray | 2013 | 51-100 | TRUE Services provided: AML Fraud detection ATM security |
||
| ThirdWatch | 2016 | 11-25 | TRUE | ||
| Zensed | 2016 | 1-10 | TRUE | ||
| IBM | 1911 | 350,000 | TRUE | TRUE | TRUE |
| Software AG | 1969 | 4,700 | TRUE | TRUE | TRUE |
| SAS Institute | 1976 | 14,000 | TRUE | TRUE | TRUE |
This is possibly an incomplete list in an emerging field; feel free to suggest other vendors in comments.
For more on fraud detection
We have data-driven lists of fraud detection software and fraud protection software vendors that you can sort through.
And we will help you choose the best one tailored to your needs:
Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 60% of Fortune 500 every month.
Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE, NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and media that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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Great Blog! Thank you for sharing the 15 Fraud Detection Software. All the enlist information below are really informative!
I think you’re missing Bolt on this list (https://bolt.com). Bolt does fraud detection for ecommerce sellers – a lot of their case studies have people switching over from Signifyd, Riskified, Kount etc.
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