Experian announced that the company was named a Leader in the IDC MarketScape: Worldwide Enterprise Fraud Solutions 2024 Vendor Assessment. The report evaluates each vendor’s advanced fraud detection capabilities, alignment with customer needs, and future strategy and roadmap for innovation.
Experian offers an integrated digital identity and fraud risk platform that delivers analytics-driven outcomes through sophisticated orchestration. The IDC MarketScape report noted, “In addition to evaluating the transactional data for potential fraud, Experian’s CrossCore solution includes identity-authentication tools. The solution uses identity data, device intelligence, email and phone intelligence, alternative identity data, biometrics, behavioral biometrics, one-time passwords, and document verification to confirm identities and aid with identity protection, including synthetic identity protection. Experian utilizes multiple data partnerships in its fraud solution, which often can help provide a more comprehensive understanding of fraud risks and exposures.”
“Given the IDC MarketScape’s comprehensive evaluation of enterprise fraud vendors, we believe our recognition as a Leader highlights how our authenticated identity data and advanced out-of‑the-box analytics help enterprise-scale businesses protect their consumers and assets,” said Alex Lintner, Chief Executive Officer, Experian Software Solutions. “Our leadership in the fraud market reflects our cohesive approach to data, decisioning, fraud, and analytics to ensure we provide holistic solutions through world-class capabilities in each of the markets we serve.”
The IDC MarketScape evaluates how each vendor’s fraud detection and prevention technologies are delivered, their functionality, increases in market share, along with an assessment of the vendor’s innovation and overall research and development (R&D) strategy.
“Much of my IDC research with respect to Financial Crime Compliance has been focused on the concept of increasing integration in vendor solutions, reducing the ‘patchwork’ of solutions that can be challenging for users to integrate,” said Sean O’Malley, Research Director, IDC. “Experian’s Ascend™ platform is a significant step towards increasing integration in Financial Crime Compliance, especially when paired with technological tools, like artificial intelligence and machine learning, designed to increase automation, provide advanced analytics, and improve models.”
“Our aim with Experian’s fraud platform and our other enterprise offerings is to offer highly scalable solutions that evolve with our customers as they grow and provide them with agility in their fraud responses through a 360-degree view of consumer identity,” said Lintner.
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