Report

The New Era of Check Fraud Detection: A Guide to Market Solutions

Check fraud remains a threat to financial institutions as they struggle to deal with increasing attack volume and high false positive rates.
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The number of suspicious activity reports related to check fraud more than doubled between 2021 and 2024; this surge in attacks drives higher losses and operating expenses for FIs, creating an urgent need for more effective detection solutions. Check fraud detection solution providers are focusing on new technologies that leverage enhanced image analysis, consortium data sharing, behavioral analytics, and artificial intelligence and machine learning to improve detection rates and reduce false positives.

This report evaluates key market dynamics, vendor capabilities, and competitive positioning of leading providers to help financial institutions navigate the complex solution landscape. This research leverages available market data, vendor capabilities, and client feedback to differentiate market leaders from contenders and emerging solutions.

This report profiles Abrigo, Advanced Fraud Solutions, ARGO, DataVisor, Featurespace, Finovifi, FIS, Fiserv, Infosys, Mitek, Nasdaq Verafin, OrboGraph, Q2, and Unit21.

Clients of Datos Insights’ Fraud & AML service can download this report.

This report mentions Early Warning Services, Flashpoint, and Viewpointe.

About the Author

Jim Mortensen

Jim Mortensen

Jim Mortensen is a Strategic Advisor in Datos Insights’ Fraud & AML practice, covering identity, fraud, and data security issues. Jim has been in the financial services industry for over 30 years, delivering fraud prevention, identity verification, and credit underwriting solutions to top-tier financial institutions both domestically and internationally. Through his experience in the industry, he has developed a substantial...

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David Barnhardt

David Barnhardt

David has over 22 years of fraud mitigation in banking and payments. Throughout his career, he has served as the Emerging Risk Executive at Bank of America, Payments Product Line Head at Early Warning, Chief Experience Officer at Giact, and Head of Fraud at Conduent. David is a frequent contributor to industry publications and conferences. He has authored multiple patents...

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Gabrielle Inhofe

Gabrielle Inhofe

Gabrielle Inhofe is a Senior Associate with Datos Insights’s Fraud & AML team. Her primary interests include cryptocurrency, artificial intelligence, and EU policy. Prior to joining Datos Insights, Gabrielle worked in Strategy and Global Regulations at cybersecurity company OneSpan, where she wrote the 2022 Global Financial Regulations Report. Gabrielle has a Masters in Advanced European and International Studies from the...

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