Primary Functionality

(While solution providers have multiple functionalities, these categories group providers by their core function. All providers have ONLY ONE Primary Functionality.)

Fraud Platform

A solution that provides a comprehensive platform of risking capabilities and services. These solutions vary greatly in methodology and technology, however the range and/or scale of coverage qualify them under this category.

Identity & Authentication

Some fraud platforms authenticate users, but these solutions have a distinct focus on authentication and digital identities. They span a variety of technology and fraud types.

Data Provider & Verification

These solutions leverage identity data at scale. The data is then used by clients to help with verification and data enrichment. They have a diverse customer base, including other fraud solution providers.

Chargeback Management

While many solutions help manage chargebacks, these solutions are pure breed players. They have dedicated processes, procedures and domain expertise that provide more bandwidth to manage chargeback disputes.

 

Fraud & Abuse Types

Payment Fraud

Fraudulent transactions that use compromised payment information, including credit cards and other alternative payment methods.

Account Takeover

Unauthorized access to an existing account using compromised information, using that access to make fraudulent purchases, compromise additional information or engage in account abuse.

New Account Fraud

Unauthorized creation of a new account using compromised information, using that account to make fraudulent purchases or engage in account abuse.

Synthetic Identity Fraud

Unauthorized use of real identity data, often different pieces from different individuals, in combination with fake data to create a fabricated identity.

Promo Abuse

Abuse of promotional offers by circumventing rules and/ore conditions in order to obtain significant discounts.

Loyalty Abuse

Abuse of loyalty points to obtain significant discounts or sell stolen loyalty points. This abuse may include account takeover as a means of gaining access and stealing loyalty points.

Content Abuse

Abusive or malicious user-generated content. This abuse may include account takeover and/or new account fraud. Spam falls under this type of abuse.

Call Center Fraud

Exploiting call centers as a channel in which to launch fraud attacks, spanning varying forms of fraud and abuse.

KYC & AML

Failure to adhere with established compliance and regulations for specific businesses and industries. Money-laundering leverages legitimate businesses or banks to conceal the origins of illegally obtained finances.

 

Technology

Biometrics

The use of distinctive, measurable human and physiological characteristics to verify an individual’s identity. This type of biometrics includes things like fingerprinting, facial recognition and iris scans.

Behavioral Biometrics

The analysis of how users behave when interacting with devices and performing a variety of actions. This enables the generation of unique user profiles and provides risking capabilities through out the user session.

Multi-Factor Authentication

The use of two or more layers of authentication to verify a user’s identity. The technology and implementation vary greatly, with some solutions relying heavily on KBA (Knowledge-Based Authentication), while others including advanced layers and applications.

Machine Learning

A subset of Artificial Intelligence, Machine Learning has the ability to ingest a large amount of data to detect patterns and anomalies at scale. The models self-learn as data and decisions are continually introduced, often through structured feedback. Machine learning is classified as Supervised or Unsupervised, with the primary differentiator resting in whether the models are trained to make data-driven decisions (Supervised).

Rules Engine

Rules leverage algorithms with defined parameters to detect patterns and anomalies. A Rules engine allows for the creation and management of rules. While not self-learning in nature, rules engines have flexibility that enables analysts to test and modify rules.

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