This is why behavioral biometrics and device fingerprinting have become essential - to detect unusual behavior that doesn’t match the individual customer’s typical behavior. On the surface, they appear to be your trusted customer. Taking over existing customer accounts can be equally deceptive, given that fraudsters often login with the customer’s correct username and password. He explains, “Such fraudulently created accounts can be more difficult to detect, which is an advantage for the attackers.” In the report, Tolbert states, “Fraud is a major cost to businesses worldwide and…fraud perpetrators are continually diversifying and innovating their Tactics, Techniques, and Procedures (TTPs).” When it comes to account opening fraud, he says bad actors are using stolen identities or piecing together personal information to create synthetic IDs.
Transmit security reviews full#
We encourage you to read KuppingerCole’s full 107-page Leadership Compass report, or keep reading to get our synopsis and interpretation of what this means for you. Organizations in…finance, banking, insurance and retail should have Transmit Security on their shortlist for evaluation for FRIP services.” Born of necessity, FRIP solutions are essential to detect and mitigate account takeover (ATO) and new account fraud (NAF), also known as account opening (AO) fraud.ĭirector of Cybersecurity Research and Lead Analyst at KuppingerCole John Tolbert writes, “The Transmit Security Platform has support for standards that boosts its interoperability and makes it easy to deploy. With this purpose core to their mission, KuppingerCole Analysts performed detailed comparisons of the industry’s leading Fraud, Risk and Intelligence Platforms (FRIP), which are now a critical component of customer identity and access management (CIAM). Ranking reports, in particular, help you assess and compare solutions.
In-depth, unbiased reports on cybersecurity and identity management give industry leaders, like you, critical insights that help move your tactics and strategies forward. We are greatly honored by this distinction and will keep innovating to protect companies from the growing volume of fraud that targets customer-facing apps, services and accounts.Īt Transmit Security, we value independent analyst research and take it seriously.
After extensive research and product testing, KuppingerCole Analysts named Transmit Security a leader in three categories: ‘Overall Leader,’ ‘Innovation Leader’ and ‘Product Leader’ in the Fraud Reduction Intelligence Platforms Leadership Compass 2023.
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