Posted by Latha Do NADARAJAN , Year 3 undergrad at the School of Accountancy, Singapore Management University
New report looks into Asian fraud detection systems market that is estimated to grow to $268.0 million by 2018
The Asian Fraud Detection Systems report defines and segments the concerned market in Asia with analysis and forecast of revenue. The fraud detection systems market in Asia is estimated to grow to around $268.0 million by 2018, at a CAGR of 5.5% from 2013 to 2018.
Browse through the TOC of the Asian fraud detection systems market, to get an idea of the in-depth analysis provided. This also provides a glimpse of the market segmentation, and is supported by various tables and figures. Key Players in the Asian Fraud Detection Systems market are SAP, FICO, Fiserv, Experian, EMC, NICE Actimize, and ACI.
Fraud detection systems examine medically impossible procedures, services billed while the patient is hospitalized, non-covered services that were paid, provider billing errors, provider up-coding and miscoding, and duplicate services across providers and claim types.
Healthcare organizations in the Asian region are actively moving towards digitization to ensure patient safety and care, and streamline the entire workflow system in large healthcare enterprises. The Asian healthcare workflow systems market such as fraud detection systems is growing at a fast rate. The growth of this market is attributed to a number of favorable factors such as reduction in cost with installation of healthcare IT systems, increasing focus of major market players in emerging economies, and increasing aging population leading to rise in incidences of diseases, therefore stimulating the demand of workflow solutions in this region. Also, the penetration for general insurance and in turn healthcare insurance is increasing in the Asian region.
Fraud detection systems assist in reducing errors, which drives the market growth. Workflow solutions help the payer reduce efforts for repeated tasks and streamline the process.
This market is segmented and forecast on the basis of components and deployments of the fraud detection systems market in the Asian region. The components comprise hardware, software, and services, and the deployments are on-premise, cloud-based, and web-based. On the basis of products, the market is divided as integrated fraud detection and standalone fraud detection systems. The market is further segmented and forecast on the basis of major countries, such as Japan, China, and India. The market is also segmented and analyzed further on the basis of the major end-users.
This report also includes the market share, value chain analyses, and market metrics such as drivers, restraints, and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of the key players in the market including major companies of the market.
Ozone Media partners with fraud detection company Forensiq
Ozone Media has partnered with fraud detection company Forensiq. This partnership will help the display advertising industry overcome a major barrier in the adoption of programmatic, distrust, with a offering that validates the authenticity of a click through and impression and prevents ad fraud.
As recently reported by MediaPost, marketers could lose USD 6.3 billion to bots in 2015. This telling research conducted by the Association of National Advertisers and White Ops indicates that up to 17 per cent of programmatic ad traffic can be attributed to bots. “I believe transparency is our joint objective as together, Forensiq and Ozone Media can bring greater accountability to programmatic transactions,” said David Sendroff, CEO of Forensiq. “We are excited to integrate with Ozone Media’s existing technology to help more brands and marketers strengthen their programmatic strategies.”
“As a leading technology provider, we have a responsibility to our partners to ensure the best solutions possible, and with Forensiq, the wheels are set in motion to ensure that inventory is filtered at the source before entering the exchange. The advertiser will then be sold only filtered and clean inventory,” said Kiran Gopinath, Founder and CEO, Ozone Media. “This is a significant move towards addressing fraud detection in the programmatic space and our commitment towards restoring advertiser confidence will continue,” Gopinath added. Since programmatic inventory is bought and sold on a CPM basis, impression fraud can hurt the advertising dollars of a marketer.
Click fraud comes a close second in being a menace for advertisers. Within the ad tech ecosystem, buyers need to know what inventory is being sold to them, and publishers need to know that the ad creative scheduled to run isn’t going to respond to a bot. This requires an additional layer of security, like fraud detection services from Forensiq, which will filter out fraudulent activity associated with ads as well as impressions. This is the first step among many to follow, in this area to not just combat impression fraud but also ad fraud to help brands advertise without worrying about the content of the page on which the ad might appear.