Fraud Detection Software Developers in the UK - Industry Research Report

Strong detection: Revenue continues to climb in 2023-24 as demand for fraud detection stays strong

The number of activities conducted on the web, including online commerce and online banking, has surged, triggering an explosion of data tools and software, including software designed to ensure that sensitive personal information and payment card information is kept safe. As organised crime schemes have become increasingly sophisticated, fraud detection software has followed suit. The growth in artificial intelligence has shifted industry interest from rule-based systems to systems powered by machine learning software.

Firms in the industry develop software systems that detect and prevent fraudulent activities. Industry products include software that detects payment card fraud, anti-money laundering software, identity theft protection software, as well as insurance and subscription fraud detection tools. The design of cyber security software does not fall under this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.