Alaric has been positioned by Gartner in the “Niche” quadrant of the Web Fraud Detection report.(1)
The Web Fraud Detection Magic Quadrant is composed of vendors that provide software products or services that help an organisation detect and prevent fraud that occurs over the web and mobile channel. The report notes that the web fraud detection market grew more than 48% in 2012, as interest increased across sectors and countries.
“We are pleased that Alaric has been included in the Web Fraud Detection Magic Quadrant for the first time this year, which we believe cements our place in the market and recognises the benefits that we can deliver to PSPs, acquirers, ISOs, merchants and issuers. We are already working with companies such as North American Bancard, GlobalCollect and Heartland Payment Systems, who trust Alaric to help protect them from fraud,” said Peter Parke, General Manager, Fraud Solutions at Alaric. “Our fraud detection solution, Fractals, covers web fraud as well as in person and mobile channels, and its distinctive combination of self-learning analytical models and user-defined rules has seen businesses of all sizes benefit from exceptionally high levels of fraud detection, with low false positives.”
Fractals is an intelligent fraud detection and prevention framework suitable for PSPs, online merchants, card issuers, acquirers and payments processors. When used ‘in-flight’, illegal transactions can be stopped before a transaction is completed. Proprietary mathematical models incorporate self-learning allowing the model to automatically adapt to new fraud trends and retain its effectiveness. The Fractals Rules Engine enables fraud analysts to create and deploy powerful fraud detection rules within minutes, delivering substantial reductions in fraud losses.
1. Gartner “Magic Quadrant for Web Fraud Detection” by Avivah Litan and Peter Firstbrook, 30 May 2013.
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