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    22 views9 pages

    Forrester Wave - EFM Q32021

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    phyo_thar_1

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    © All Rights Reserved
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    The Forrester Wave™: Enterprise Fraud Management, Q3 2021 The Eight Providers That Matter Most And How They Stack Up Summary “Th teportahow: how each provider messes Up end help ecu and isk management rl aud Tonks - Common 2) (Cenren~+) (ramcomeee +) Cam Workflow, Ease Of Model Building Differentiate Vendors ‘ich nancial isttutons (Fs) having to respond In eal tine and across channels, to ever faster hanging patems in payment and nonpayment Fave, sk meceling has tanstoned Fram a9 nn or semiannus campaign to & continuous acy, Date scents labor costs have grown signieantly fester than general Inbox costs, ané regulatory and compliance requirements are becoming harser one harder to meet ‘As result of these tenes, enterprise troud management EFM) customers should lok for rowders hat + Provide flexole enc customizase workflow for eizen cate scent to bul a medal Vendors’ solutions inereasigly offer model governance wih checks for model finess and cies. Wee seeing giant leaps in vendors’ ably t provde an inEFM-a9p workbench wth 3 woskow that enables clzen date scientists and business users to bul rain, and manage canned ang custom-built models ang macel ensembles. Workxencnes ineressingly also Provide the abity te inegrat tn aty modes (fle vis Jupyter notebooks into the Fs ‘raud management risk scoring environment + Integrate te custorer's cum ard third pry data fest with quelty checks and workfow Bets val and quantity of data that crves transaction decisoning fe. payment amaunt, ATM locaton, mobile device operating system verson, ee) greatly endanes the seeursey of sk 19 ‘oreo maintain an agile stance against new and emerging Haus paters. + Autorrete maintenance of segrrentafin of customers enc erties, Behavorl profiing of customers sre ents (ATM location, phone numbers, ayia! adetesses, ete) ar thet segments allows Fs te more acurately predict aud, even for accouns that ae brand new ané fr which not much transactional data yet ets. EFM sohtions that offer automatically recommended andr undated customer are ently segments help reduce model building ‘ye times and — because of thelr greater accuracy ane ler false postives — customer Evaluation Summary “The Forrester Wave" evaluation highlghts Leaders, Strong Performers, Contenders, and Challengers. ts en assessment ofthe lop vendors inthe marke: end does at represent he enze ‘vendor lndscape. Youll find mare information about hs market in our repens on EFM, ‘We intend this evaluation tebe 2 starting pet only and encourage eliets to view procuct evaluations and adopt teria weightings using the Exet based vender competsen tool (see Figure and see Figure 2}. Clekhe link athe begining of ths repor on Forestercom to Forester eve Entre Fraud Menepemon 032021 29 Wishor trey | > sone stateay — “2000 Sane: Fors asexch he Unnuared praaiion, or ara RB Pee Forster ave Frere Fret Menegement creer 032091 SON Ccurent offering Dt ietcoration EFM adinistator management fedawrng ne Modal lng ‘Sipenand and ureupervind ML, Model expsinabity and ‘ovenance ‘Gueve management poalya investigation Chennai “Tansacton pee Reporting Seay rumbor of investigator. Swrateny Execution roadmap Make approach: EFM Sevoopere Maxketapposch: EFM sles Data tegration plans ‘Aeinceater manager plans Data sient worktow Inprovernet pans Fule-bened ak sory plan Supeniced machine issn psn Unsupervised and deep framing pers Modal explinatity plane Model governance plans Procuctzed mode pane ‘Queue management pans ego ad at Suppor stating Profesional servos staftng Parser conten Market presence ‘SaaS EFM revenue ‘On-pem EFM revenue EAA revenue gon PSP FHA 2 HBR BEBE ea ae39 938 $98sa22 se998 8 282 300 100 300 1.00 300 300 500 192 1.00 1.00 1.00 100 1.00 1.00 100 300 200 ase 88 eee 500 300 gees 324 1.00 500 00 300 500 100 1.00 500 ‘At scoms are baredon a sal of wes 05 torah Vendor Offerings 302 500 300 500 300 1.00 300 200 a6 300 300 500 300 500 200 aa ae 500 ees 100 300 500 gees 300 500 500 100 300 300 00 ge 888 400 300 1.00 100 190 100 100 1.00 100 300 500 200 300 190 100 300 500 500 300 500 500 200 500 500 ars 500 300 500 00 500 500 00 500 00 % % 220 4100 100 100 100 500 ‘500 3.00 120 4.00 4100 00 100 000 000 100 100 300 408 1.00 500 500 500 200 200 1.00 az 1.00 500 00 300 3.00 300 100 400 1.00 49 ‘lune Vendors nd Frock fermen Product version Version reaase Vendor Product evausted ‘oahiied ‘te ACI Wore Proetv Fisk Manager 20 savunny2029 Featespoce — ARIC lk Hub ane Fooazal “Wareacton Fraud 23 OO Fcon Frau Manager 1 1B Ser Payments 62 NICE Actmize integrated Fraud Management 10. (FN) sa SA Adoptive Authentication loud aes anwar 2025 ss ‘SAS Enterprise Fad Soon a Vendor Profiles ‘Our analysis uncovered the following strengths and weaknesses of incvdual vendors Leaders + NICE Actimize offers strong model bucing Gut lags n partner ecosyelem. The verdlor Inuoduced ts new secount aud Solution as wellas Xeeed te uncover new aud aatteins. Sight Cloud analytes allows customers to use ther own madi for fae cetection The ‘vendor plas to: ease and speed up deta acgulsiton ene processing 2} execute ants A {st strategy using Incremental earring ane model governance improvements and 3) use consortium data or improved rau risk searing. The vender hes robust plans fo improve eta Invegraton and admin strator management buts behing compareete ether vendors ints Plans for model expinaity ad oreseth of pat scosytem The sokilon provides exible data ntegation an rtes-basee risk scoring and alerting with sept and guided ule authoring and rule impact analysis and visual rule tuning feeeback, Model buleing also shines: Comperson of cham and challenger mocels is expt availabe, Anatyst Investigation screens are very easy to customize For some capabilites, aminsaters ang data selentsts rust ute multiple, ané often thiek cent, nemwelb management interfaces, The venéar's EFM ‘olution developer bench cepth i aller than tat of most competitors and— compares to ie marke presence — the vendor's molementationparnerseasystem is smal The sokon it «great or ergenizations looking for an ende-ené‘raud management solution with bult-in channel and transseionspeci loge ‘SAS spers a strong menegement fr rs scorira but legs in ete tegration workew The ‘yencor has been emphasizing inegraton of ts EFM porvolo with ts AML porvole tough the Data Orchestation and Visual Ivestigatar components underpinning both the EFM ane AML solution. Par ofthe ‘raud management ane AML [FRM strategy sinvestment int the ‘case management funetonslty The vender plan 09) nvest in its clouetnatvedeclioning sfehtecture: 2} expand ts outot-ne-box (COTE) transaction monkorng strategies for dgtal poyments and ienty fraud and 3) use thie paty datasources wa a standardized connector ‘Homework The vendors aéminstater management and mocel explainabity ane ‘nnaneement pins reall shine, but the veneorsexseilon strategy reacmap and plans for conrgurable, The solvton lags in data integraton worklow capabties and oferng productzed, OOTE macels or peer-to-peer payments. The solutions «great for organizations wth exstng SAS programming skl sets running large anaytes and data ‘Strong Petformers + Feeturespace has strong medelaulng but fll behind in squeue maregemert Featurespace In developing automated deep behaviorslnetworcs (ADBN} to achleve better pretecion outemate feature extraction using Its new-generation ADBNS; 2) develop rskcbased authentication for 3D Secure payment authorization; ane!3) enable its strategy stu toolto make new or amended analytes eontiguations. The venders execution roadmap end supenased machine learning plans are strong; however, procuctzed model plans and professions serves slang Ing Benin other venders. lens reper that— everthing being equal —the solutions susenptions usualy las expensive than tose of ater compettors FM seminstrater management eluding mulitenoney management ne deep lesinng basee decisoning ate ahead ofthe competion. Supsert for mule urencles and ule performance dashboards are easy use. The venéor i behing competitors when itcomes to I Noth Aivercan ane APAC istlled base, Queue management and OOTR models for supporting various channels eb, mobile, phone, and in-person} as wellas support forthe 150 20022 message format are behind those of competitors the vendor plans enhancements Intis ate). The soluson sa great ft for fms wit enstng EFM operational processes FICC provides sora data itecraticn but lags ln segrrentation managemert ICO hes been Investing nits eloue-based arabes platform ane, acearcng o data an statist collected, publishes FeleonIteligence Network Insight ous benchmas os cents. The vendor plans to: futher ntegrate the Falcon Avthensicatin Suite (E2MCOM aequiston) wth ts EFM, ein 2) provide benchmarks a8 to how the lent individu model performance compares to tat other consortium members and 3) expand behavioral prafing cepadlies FICO has 5 deep bene in developers working on is EFM sokitan ane has convinlng ests scents \wortow improvement plans, but ag nthe areas of administctor management procuet ‘enhancements and syperised machine leaning pln. The solition provides nice etn Integration ad atcbute mepping capasies and oes greeter ule setiarary fr detecting ‘raue on various enannel (onine web, mobile app elc} and provides outstanding, O08, Prodetzed supper for modeling rk or eiferent Lansacton types fespecally card payments). The oluton lagen administrator management, segrientstion ard benaviorl rest for card issuers with no or ite data science -house siete In need ofa manages endto-end EFM solution Feeczal cers strorg data intesraticn werefow but ecks In cuete management. As the ‘vendors EFM solution's enterpse-

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