SINGAPORE, March 23, 2023 /PRNewswire/ -- Group-IB, a global cybersecurity leader headquartered in Singapore, is proud to announce that its Fraud Protection platform has been recognized as the most complete anti-fraud solution currently on the market by Frost & Sullivan, an international research and consulting firm. Out of nine vendors and products surveyed by Frost & Sullivan in its Global Fraud Detection & Prevention (FDP) Market Study, Group-IB's Fraud Protection differentiated itself from other offerings by being the only anti-fraud solution to contain all seven key functionalities listed by Frost & Sullivan, including bot detection, behavioral biometrics, explainable AI, and API security.
Group-IB Fraud Protection is a solution that combines device fingerprinting, fraud intelligence, and behavioral analysis. It already protects more than 500 million users of web and mobile apps for banking and fintech services, e-commerce marketplaces, and gambling sites worldwide against advanced digital threats, malware, payment fraud, social engineering attacks, and bad bots. The solution acts in real-time and across all digital channels, leveraging key Threat Intelligence insights contained in Group-IB's Unified Risk Platform to provide the company's experts with full visibility of the fraud landscape, and they are able to leverage this, and their professional expertise, to turn these insights into actionable anti-fraud strategies for clients and partners. Group-IB's patented anti-fraud technologies enable the company to slow the growing spread of banking Trojans, including Godfather, and also track financially-motivated threat actor groups such as OPERA1ER.
"Group-IB's focus has been to create a solution that is both transparent and offers the most complete session monitoring functionality on the market. As attested by Frost & Sullivan, our Fraud Protection solution utilizes explainable AI to ensure that there are no black boxes for our clients. Risk managers who use Group-IB's Fraud Protection are in full control of their operations; they understand how our solution operates and makes its decisions. Group-IB Fraud Protection adapts to our client's risk models, not the other way around. These factors are at the heart of our success," Julien Laurent, Product Marketing Manager (Fraud Protection) at Group-IB, said.
This latest accolade is another feather in the cap of Group-IB's Fraud Protection. Previously, experts at Forrester analyzed the performance of a bank transitioning from one solution to Fraud Protection. This study revealed that the bank could expect to receive a three-year ROI of 130%, with payback in less than six months after implementation.