Mobile offers fraudsters more options than any other channel
In the recent report, “Vendor Landscape: Mobile Fraud Management Solutions,” Forrester estimates that US mobile commerce (both phones and tablets) will top $252 billion by 2020, while mobile payments will exceed $141 billion in 2019. ₁As new types of mobile commerce and payment methods, from peer-to-peer (P2P) payments, financial technology (FinTech), and mobile wallets proliferate, fraudsters are quickly moving to the mobile channel as well.
To keep up with this pace of change, it’s crucial you have the right fraud detection technology in place. Experian was listed as having nine out of the ten capabilities Forrester identifies as necessary to combat mobile fraud. The report cites that Experian offers:
- Mobile fraud management models built-in
- User profiling across mobile devices
- Unsupervised machine learning for mobile behavior profiling
- Built-in support for GPS data in risk scoring
- Built-in support for accelerometer data in risk scoring
- Built-in detection for device jailbreaking/rooting
- Own device fingerprint and device reputation
- Mobile SDK for app developers to collect data on device.
Download this complimentary Forrester report today to learn more.