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Fraud, Authentication, and Orchestration Hubs: a Path to Greater Agility

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Fraud, Authentication, and Orchestration Hubs: A Path to Greater Agility DECEMBER 2019 Julie Conroy © 2019 Aite Group LLC. All rights reserved. Reproduction of this report by any means is strictly prohibited. Photocopying or electronic distribution of this document or any of its contents without prior written consent of the publisher violates U.S. copyright law, and is punishable by statutory damages of up to US$150,000 per infringement, plus attorneys’ fees (17 USC 504 et seq.). Without advance permission, illegal copying includes regular photocopying, faxing, excerpting, forwarding electronically, and sharing of online access. Fraud, Authentication, and Orchestration Hubs: A Path to Greater Agility DECEMBER 2019 TABLE OF CONTENTS IMPACT POINTS .............................................................................................................................................. 4 INTRODUCTION .............................................................................................................................................. 5 METHODOLOGY ........................................................................................................................................ 5 THE MARKET ................................................................................................................................................... 7 VENDOR SOLUTIONS .................................................................................................................................... 14 ACI WORLDWIDE ..................................................................................................................................... 23 BAE SYSTEMS .......................................................................................................................................... 24 BIOCATCH................................................................................................................................................ 25 BOTTOMLINE TECHNOLOGIES ................................................................................................................ 25 CA ....................................................................................................................................................... 26 EARLY WARNING SERVICES ..................................................................................................................... 26 ENTERSEKT .............................................................................................................................................. 26 EQUIFAX .................................................................................................................................................. 27 EXPERIAN ................................................................................................................................................ 27 FEATURESPACE ....................................................................................................................................... 28 FEEDZAI ................................................................................................................................................... 29 FICO ....................................................................................................................................................... 30 GBG ....................................................................................................................................................... 31 GEMALTO ................................................................................................................................................ 31 GIACT ...................................................................................................................................................... 31 IBM ....................................................................................................................................................... 32 IDENTITYMIND ........................................................................................................................................ 32 IDOLOGY ................................................................................................................................................. 33 LEXISNEXIS RISK SOLUTIONS ................................................................................................................... 33 NICE ACTIMIZE ........................................................................................................................................ 34 ONESPAN ................................................................................................................................................ 36 SAS ....................................................................................................................................................... 36 SIMILITY .................................................................................................................................................. 37 TRANSMIT SECURITY ............................................................................................................................... 37 TRANSUNION .......................................................................................................................................... 38 TSYS 38 CONCLUSION ................................................................................................................................................ 40 RELATED AITE GROUP RESEARCH ................................................................................................................. 41 ABOUT AITE GROUP...................................................................................................................................... 42 AUTHOR INFORMATION ......................................................................................................................... 42 CONTACT ................................................................................................................................................. 42 © 2019 Aite Group LLC. All rights reserved. Reproduction of this report by any means is strictly prohibited. 2 101 Arch Street, Suite 501, Boston, MA 02110 • Tel +1.617.338.6050 • Fax +1.617.338.6078 • [email protected] • www.aitegroup.com Fraud, Authentication, and Orchestration Hubs: A Path to Greater Agility DECEMBER 2019 LIST OF FIGURES FIGURE 1: THE HUB ......................................................................................................................................... 8 FIGURE 2: THE HUB MATURITY CURVE ........................................................................................................... 9 FIGURE 3: FIS’ TOP FRAUD PAIN POINTS ...................................................................................................... 11 FIGURE 4: FIS’ PLANS TO IMPLEMENT RISK HUBS ........................................................................................ 12 LIST OF TABLES TABLE A: PARTICIPATING VENDORS ............................................................................................................... 5 TABLE B: MARKET TRENDS AND IMPLICATIONS ........................................................................................... 12 TABLE C: DEPLOYMENT OPTIONS ................................................................................................................. 14 TABLE D: HUB CAPABILITIES ......................................................................................................................... 16 TABLE E: HUB CAPABILITIES .......................................................................................................................... 17 TABLE F: HUB CAPABILITIES .......................................................................................................................... 19 TABLE G: CONTRACTING AND MULTI-TENANT SUPPORT ............................................................................. 22 © 2019 Aite Group LLC. All rights reserved. Reproduction of this report by any means is strictly prohibited. 3 101 Arch Street, Suite 501, Boston, MA 02110 • Tel +1.617.338.6050 • Fax +1.617.338.6078 • [email protected] • www.aitegroup.com Fraud, Authentication, and Orchestration Hubs: A Path to Greater Agility DECEMBER 2019 IMPACT POINTS • Hubs are a buzzy concept in risk and authentication. The vendor landscape is increasingly crowded since there is so much interest among financial services firms in investing in providers with these capabilities. The category begins with fraud or authentication hubs, which are platforms that enable a business to connect to one vendor via API or on-premises integration, which then facilitate access to multiple detection and/or authentication point solutions and provides a risk engine to integrate the results. The evolution of this theme expands to orchestration, in which the risk engine is able to ingest and analyze clients’ internal contextual customer and transactional data in order to contextualize risk and authentication decisions. • Twenty-six vendors participated in the research. In addition, Aite Group surveyed fraud and anti-money laundering (AML) executives about their plans to invest in hubs at its 2018 and 2019 Aite Group Financial Crime Forum conferences. • Thirty-six percent of financial institutions (FIs) surveyed indicate that they have already implemented a hub. Another 45% of FIs surveyed in 2019 indicate that they are likely
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