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Vetting Fraud Solutions

As competition in the fraud management space increases, Aite Group has issued recommendations for financial institutions.

As competition in the fraud management space increases, Boston-based Aite Group has issued recommendations for financial institutions on how best to leverage vendors' emerging value propositions. Among the recommendations, Aite Group suggests firms consider products that: Vetting Fraud Solutions

  • Leverage new technology, rather than repackage existing solutions;,

  • Originate from nontraditional fraud management vendors and leverage coming-of-age data sets;,

  • Consolidate fraud management around a single technology platform within the institution;,

  • Enable the outsourcing of fraud management business processes; and

  • Handle customer service should a security breach occur.

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