Summary

Middle East and Africa fraud detection transaction monitoring market is expected to reach USD 8.25 billion by 2031 from USD 1.84 billion in 2024, growing with a CAGR of 20.7% in the forecast period of 2024 to 2031.
Market Segmentation:
Middle East & Africa Fraud Detection Transaction Monitoring Market, By Offering (Solution and Services), Function (KYC/Customer Onboarding, Case Management, Watch List Screening, Dashboard & Reporting, and Others), Deployment (On-Premise and Cloud), Organization Size (Large size organizations and Small & Medium Sized Organization), Application (Payment Fraud Detection, Money Laundering Detection, Account Takeover Protection, Identity Theft Prevention, and Others), Vertical (Banking, Financial Services, & Insurance (BFSI), Retail, IT & Telecommunication, Government & Defense, Healthcare, Manufacturing, Energy & Utilities, and Others), Countries (U.A.E, Saudi Arabia, South Africa, Egypt, Israel, Bahrain, Oman, Qatar, Kuwait, and rest of Middle East and Africa) - Industry Trends and Forecast To 2031

Overview of Middle East and Africa Fraud Detection Transaction Monitoring Market Dynamics:
Driver
• Rising need for robust detection systems that can adapt to new threats
Restraint
• High initial investment and ongoing maintenance costs
Opportunity
• Collaborating with fintech companies and technology providers

Market Players:
The key market players operating in the Middle East and Africa fraud detection transaction monitoring market are listed below:

• Amazon Web Services, Inc.
• LexisNexis (Subsidiary of Reed Elsevier)
• Mastercard
• TATA Consultancy Services Limited
• Fiserv, Inc.
• SAS Institute Inc.
• ACI Worldwide
• Oracle
• NICE
• FICO
• SymphonyAI
• UBIQUITY
• Verafin Solutions ULC (Subsidiary of Nasdaq Inc.)
• GB Group plc (‘GBG’)
• Quantexa
• Sum and Substance Ltd
• Hawk
• INETCO Systems Ltd.
• Seon Technologies Ltd.

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Table of Contents

1 INTRODUCTION 57
1.1 OBJECTIVES OF THE STUDY 57
1.2 MARKET DEFINITION 57
1.3 OVERVIEW OF MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET 57
1.4 CURRENCY AND PRICING 59
1.5 LIMITATIONS 59
1.6 MARKETS COVERED 60
2 MARKET SEGMENTATION 65
2.1 MARKETS COVERED 65
2.2 GEOGRAPHICAL SCOPE 66
2.3 YEARS CONSIDERED FOR THE STUDY 67
2.4 DBMR TRIPOD DATA VALIDATION MODEL 68
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 71
2.6 DBMR MARKET POSITION GRID 72
2.7 VENDOR SHARE ANALYSIS 73
2.8 MULTIVARIATE MODELING 74
2.9 OFFERING TIMELINE CURVE 74
2.10 MARKET APPLICATION COVERAGE GRID 75
2.11 SECONDARY SOURCES 76
2.12 ASSUMPTIONS 76
3 EXECUTIVE SUMMARY 77
4 PREMIUM INSIGHTS 83
4.1 PORTER’S FIVE FORCES 84
4.2 REGULATORY STANDARDS 85
4.3 TECHNOLOGICAL TRENDS 93
4.4 CASE STUDY 97
4.5 PRICING ANALYSIS 100
4.6 VALUE CHAIN FOR MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET 103
5 MARKET OVERVIEW 106
5.1 DRIVERS 108
5.1.1 RISING NEED FOR ROBUST DETECTION SYSTEMS THAT CAN ADAPT TO NEW THREATS 108
5.1.2 INCREASED FOCUS ON IDENTITY VERIFICATION AND AUTHENTICATION 109
5.1.3 GROWING AWARENESS AMONG CONSUMERS ABOUT FRAUD RISKS 110
5.1.4 INCREASING DEMAND FOR REAL-TIME TRANSACTION MONITORING ACROSS BFSI SECTOR 111
5.2 RESTRAINTS 112
5.2.1 HIGH INITIAL INVESTMENT AND ONGOING MAINTENANCE COSTS 112
5.2.2 ENSURING COMPLIANCE WITH CUSTOMER DATA PRIVACY 113
5.3 OPPORTUNITIES 114
5.3.1 UTILIZING AI AND MACHINE LEARNING ALGORITHMS TO ENHANCE ACCURACY 114
5.3.2 COLLABORATING WITH FINTECH COMPANIES AND TECHNOLOGY PROVIDERS 115
5.3.3 STREAMLINING FRAUD DETECTION THROUGH AUTOMATION CAN MINIMIZE LABOR COSTS 116
5.4 CHALLENGES 117
5.4.1 HIGH VOLUME OF TRANSACTIONS INCREASES DETECTION COMPLEXITY 117
5.4.2 DIFFICULTY IN ENSURING REGULATORY ALIGNMENT GLOBALLY 118
6 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, BY OFFERING 119
6.1 OVERVIEW 120
6.2 SOLUTION 121
6.3 SERVICES 122
6.3.1 PROFESSIONAL SERVICES 122
6.3.1.1 SUPPORT & MAINTENANCE 123
6.3.1.2 INTEGRATION SERVICES 123
6.3.1.3 CONSULTING SERVICES 123
6.3.1.4 TRAINING & EDUCATION 123
7 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, BY FUNCTION 124
7.1 OVERVIEW 125
7.2 KYC/CUSTOMER ONBOARDING 126
7.3 CASE MANAGEMENT 127
7.4 WATCH LIST SCREENING 127
7.5 DASHBOARD & REPORTING 128
7.6 OTHERS 128
8 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, BY DEPLOYMENT MODE 129
8.1 OVERVIEW 130
8.2 CLOUD 131
8.3 ON-PREMISE 132
9 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, BY ORGANIZATION SIZE 133
9.1 OVERVIEW 134
9.2 LARGE SIZE ORGANIZATIONS 135
9.2.1 CLOUD 136
9.2.2 ON-PREMISE 136
9.3 SMALL AND MEDIUM SIZED ORGANIZATIONS 136
9.3.1 CLOUD 137
9.3.2 ON-PREMISE 137
10 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, BY APPLICATION 138
10.1 OVERVIEW 139
10.2 PAYMENT FRAUD DETECTION 140
10.3 MONEY LAUNDERING DETECTION 141
10.4 ACCOUNT TAKEOVER PROTECTION 141
10.5 IDENTITY THEFT PREVENTION 142
10.6 OTHERS 142
11 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, BY VERTICAL 143
11.1 OVERVIEW 144
11.2 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI) 146
11.2.1 SOLUTION 146
11.2.2 SERVICES 146
11.3 RETAIL 147
11.3.1 SOLUTION 147
11.3.2 SERVICES 147
11.4 IT & TELECOMMUNICATION 148
11.4.1 SOLUTION 148
11.4.2 SERVICES 148
11.5 GOVERNMENT & DEFENSE 149
11.5.1 SOLUTION 149
11.5.2 SERVICES 149
11.6 HEALTHCARE 150
11.6.1 SOLUTION 150
11.6.2 SERVICES 150
11.7 MANUFACTURING 151
11.7.1 SOLUTION 151
11.7.2 SERVICES 151
11.8 ENERGY & UTILITIES 152
11.8.1 SOLUTION 152
11.8.2 SERVICES 152
11.9 OTHERS 153
11.9.1 SOLUTION 153
11.9.2 SERVICES 153
12 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, BY REGION 154
12.1 MIDDLE EAST & AFRICA 156
12.1.1 U.A.E. 162
12.1.2 SAUDI ARABIA 168
12.1.3 SOUTH AFRICA 174
12.1.4 EGYPT 180
12.1.5 ISRAEL 186
12.1.6 OMAN 192
12.1.7 BAHRAIN 198
12.1.8 KUWAIT 204
12.1.9 QATAR 210
12.1.10 REST OF MIDDLE EAST AND AFRICA 216
13 MIDDLE EAST AND AFRICA FRAUD DETECTION TRANSACTION MONITORING MARKET, COMPANY LANDSCAPE 217
13.1 COMPANY SHARE ANALYSIS: MIDDLE EAST AND AFRICA
14 SWOT ANALYSIS 218
15 COMPANY PROFILE 219
15.1 AMAZON WEB SERVICES, INC. 219
15.1.1 COMPANY SNAPSHOT 219
15.1.2 REVENUE ANALYSIS 220
15.1.3 COMPANY SHARE ANALYSIS 220
15.1.4 SERVICE PORTFOLIO 221
15.1.5 RECENT DEVELOPMENTS 222
15.2 LEXISNEXIS (SUBSIDIARY OF REED ELSEVIER) 223
15.2.1 COMPANY SNAPSHOT 223
15.2.2 COMPANY SHARE ANALYSIS 223
15.2.3 SOLUTION PORTFOLIO 224
15.2.4 RECENT DEVELOPMENTS 225
15.3 MASTERCARD 226
15.3.1 COMPANY SNAPSHOT 226
15.3.2 REVENUE ANALYSIS 226
15.3.3 COMPANY SHARE ANALYSIS 227
15.3.4 SOLUTION PORTFOLIO 227
15.3.5 RECENT DEVELOPMENTS 228
15.4 TATA CONSULTANCY SERVICES LIMITED 229
15.4.1 COMPANY SNAPSHOT 229
15.4.2 REVENUE ANALYSIS 229
15.4.3 COMPANY SHARE ANALYSIS 230
15.4.4 SOLUTION PORTFOLIO 230
15.4.5 RECENT DEVELOPMENTS 231
15.5 FISERV, INC. 232
15.5.1 COMPANY SNAPSHOT 232
15.5.2 REVENUE ANALYSIS 233
15.5.3 COMPANY SHARE ANALYSIS 233
15.5.4 SOLUTION PORTFOLIO 234
15.5.5 RECENT DEVELOPMENTS 234
15.6 ABRA INNOVATIONS, INC 236
15.6.1 COMPANY SNAPSHOT 236
15.6.2 PRODUCT PORTFOLIO 236
15.6.3 RECENT DEVELOPMENTS 237
15.7 ACI WORLDWIDE 238
15.7.1 COMPANY SNAPSHOT 238
15.7.2 REVENUE ANALYSIS 239
15.7.3 SOLUTION PORTFOLIO 239
15.7.4 RECENT DEVELOPMENTS 240
15.8 DATAVISOR, INC. 242
15.8.1 COMPANY SNAPSHOT 242
15.8.2 SOLUTION PORTFOLIO 242
15.8.3 RECENT DEVELOPMENTS 243
15.9 FEATURESPACE LIMITED 246
15.9.1 COMPANY SNAPSHOT 246
15.9.2 SOLUTION PORTFOLIO 246
15.9.3 RECENT DEVELOPMENTS 247
15.10 FEEDZAI 249
15.10.1 COMPANY SNAPSHOT 249
15.10.2 SOLUTION PORTFOLIO 249
15.10.3 RECENT DEVELOPMENTS 250
15.11 FICO 252
15.11.1 COMPANY SNAPSHOT 252
15.11.2 REVENUE ANALYSIS 252
15.11.3 SOLUTION PORTFOLIO 253
15.11.4 RECENT DEVELOPMENT 253
15.12 GB GROUP PLC (‘GBG’) 254
15.12.1 COMPANY SNAPSHOT 254
15.12.2 REVENUE ANALYSIS 254
15.12.3 PRODUCT PORTFOLIO 255
15.12.4 RECENT DEVELOPMENTS 256
15.13 HAWK 259
15.13.1 COMPANY SNAPSHOT 259
15.13.2 PRODUCT PORTFOLIO 259
15.13.3 RECENT DEVELOPMENTS 260
15.14 INETCO SYSTEMS LTD. 261
15.14.1 COMPANY SNAPSHOT 261
15.14.2 PRODUCT PORTFOLIO 261
15.14.3 RECENT DEVELOPMENTS 262
15.15 INFORM SOFTWARE 263
15.15.1 COMPANY SNAPSHOT 263
15.15.2 SOLUTION PORTFOLIO 263
15.15.3 RECENT DEVELOPMENTS 264
15.16 NICE 265
15.16.1 COMPANY SNAPSHOT 265
15.16.2 SOLUTION PORTFOLIO 265
15.16.3 RECENT DEVELOPMENTS 266
15.17 ORACLE 267
15.17.1 COMPANY SNAPSHOT 267
15.17.2 REVENUE ANALYSIS 267
15.17.3 SERVICE CATEGORY 268
15.17.4 RECENT DEVELOPMENTS 268
15.18 QUANTEXA 270
15.18.1 COMPANY SNAPSHOT 270
15.18.2 SOLUTION PORTFOLIO 270
15.18.3 RECENT DEVELOPMENTS 271
15.19 SANCTION SCANNER 272
15.19.1 COMPANY SNAPSHOT 272
15.19.2 PRODUCT PORTFOLIO 272
15.19.3 RECENT DEVELOPMENTS 273
15.20 SAS INSTITUTE INC 274
15.20.1 COMPANY SNAPSHOT 274
15.20.2 SOLUTION PORTFOLIO 274
15.20.3 RECENT DEVELOPMENT 275
15.21 SEON TECHNOLOGIES LTD. 276
15.21.1 COMPANY SNAPSHOT 276
15.21.2 PRODUCT PORTFOLIO 276
15.21.3 RECENT DEVELOPMENTS 277
15.22 SUM AND SUBSTANCE LTD (UK) 278
15.22.1 COMPANY SNAPSHOT 278
15.22.2 SOLUTION PORTFOLIO 278
15.22.3 RECENT DEVELOPMENTS 279
15.23 SYMPHONYAI 280
15.23.1 COMPANY SNAPSHOT 280
15.23.2 SOLUTION PORTFOLIO 280
15.23.3 RECENT DEVELOPMENTS 281
15.24 UBIQUITY 282
15.24.1 COMPANY SNAPSHOT 282
15.24.2 REVENUE ANALYSIS 282
15.24.3 SOLUTION PORTFOLIO 283
15.24.4 RECENT DEVELOPMENT 283
15.25 VERAFIN SOLUTIONS ULC (SUBSIDIARY OF NASDAQ INC.) 284
15.25.1 COMPANY SNAPSHOT 284
15.25.2 SOLUTION PORTFOLIO 284
15.25.3 RECENT DEVELOPMENTS 286
16 QUESTIONNAIRE 287
17 RELATED REPORTS 290