The Fraud Reduction Intelligence Platform market is mature and still growing in response to increased fraud risk levels globally. As will be reflected in this report, the solutions in this space are quite diverse. Some vendors have about every feature one could want in a FRIP service, while others are more specialized, and thus have different kinds of technical capabilities. For example, some vendors are highly adept at device intelligence, including detailed histories of devices and information provided by working relationships with MNOs, but may not offer robust bot detection & management. Others excel at user behavioral analysis and passive biometrics, but do not offer identity proofing. In general, identity proofing is quite specialized and is not built-in to all FRIP services. Many FRIP vendors allow customers to outfit their instances with identity proofing capabilities by enabling API callouts to 3rd-party ID proofing services, and then processing the results at transaction time.
Furthermore, KuppingerCole research indicates that the particular market segments that vendors choose to target often have a direct effect on the type of features available in their FRIP solutions. Some vendors specialize strictly in preventing fraud in financial transactions. Some have specializations for detecting and deterring ecommerce fraud. Others are more general purpose, offering their services for insurance, health care, gaming, hospitality, retail, travel, etc.
In the Fraud Reduction Intelligence Platform market, solutions are mainly offered as SaaS. Vendors run their platforms in the cloud or in their own data centers and manage these services for their customers. FRIP services are consumed via APIs. For these SaaS offerings, the licensing model is often priced according to transaction volumes. There are a few vendor solutions that can run (or in one case, only run) on customer premises.