IBM Safer Payments vs ThreatMetrix comparison

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IBM Safer Payments

Comparison Buyer's Guide

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Executive Summary

We performed a comparison between IBM Safer Payments and ThreatMetrix based on real PeerSpot user reviews.

Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention.

To learn more, read our detailed Fraud Detection and Prevention Report (Updated: November 2024).

Fraud Detection and Prevention

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Helped 824,067 peers since 2012

Categories and Ranking

IBM Safer Payments

Ranking in Fraud Detection and Prevention

4th

Average Rating

8.0

Reviews Sentiment

7.2

Number of Reviews

Ranking in other categories

No ranking in other categories

ThreatMetrix

Ranking in Fraud Detection and Prevention

2nd

Average Rating

8.2

Reviews Sentiment

6.6

Number of Reviews

Ranking in other categories

No ranking in other categories

Mindshare comparison

As of December 2024, in the Fraud Detection and Prevention category, the mindshare of IBM Safer Payments is 4.6%, down from 5.2% compared to the previous year. The mindshare of ThreatMetrix is 14.9%, up from 12.0% compared to the previous year. It is calculated based on PeerSpot user engagement data.

Fraud Detection and Prevention

Featured Reviews

Yurii Fedets

Director at Solidity

Helps determine whether a transaction is correct or fraudulent

It's a very fast solution. It can make decisions in 10, 20 or 30 milliseconds. Another feature is that it's a white-box solution. Our clients can see the system's operation, including the rules influencing each decision. Additionally, it's an omnichannel solution capable of utilizing information from various digital channels such as card processing, mobile banking, web banking, APMs, and others. This allows for transaction analysis. Moreover, it's a highly adaptable solution that can integrate machine learning, both external and internal models, making it easy to implement. Compared to competitors, it's one of the easiest solutions to implement. The tool allows historical data to be leveraged within the system to train models without needing external systems. Secondly, it supports external modeling systems, enabling customers to create and train models outside the product and then integrate them into the system. This is useful for customers who utilize other machine learning and artificial intelligence systems alongside IBM Safer Payments.

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Sohom Roy

Senior Director at CSS Corp

Enables to identify and analyze real-time incidents and mitigate risks

The setup is not complex. It is pretty standard. I rate the ease of setup a nine out of ten. The deployment time depends on the applications and environment into which we integrate it. The product provides a lot of API documentation. The product is cloud-based. One or two people are enough to deploy the solution. We need some maintenance when new versions or patches need to be upgraded. It requires minimal maintenance.

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Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:

Pros

"It's a very fast solution. It can make decisions in 10, 20 or 30 milliseconds. Another feature is that it's a white-box solution. Our clients can see the system's operation, including the rules influencing each decision. Additionally, it's an omnichannel solution capable of utilizing information from various digital channels such as card processing, mobile banking, web banking, APMs, and others."

"The most valuable feature the solution has is that it is able to do a fairly accurate fraud assessment of a credit card transaction based on a variety of parameters configured by the merchant."

"The solution is stable."

"It is a stable solution."

"The user interface, the portal, is very helpful in describing what attributes of concern are associated with the device."

"Accessible custom rules with a monthly update on performance."

"The solution can be easily integrated with applications."

"There is excellent documentation available."

"The most valuable thing is about the IP. They have a database of malicious IP addresses against which they check. They have a huge database for routed devices and the devices that have been used in the past to commit fraud. They have extensive historical records of all of that information, and that's probably the most valuable thing about ThreatMetrix. Over the years, they have been collecting and persisting globally across all the banking and financial services. They have been storing all this information. It is this stored information that I and my team find valuable; it is not so much their technology. If you are running it on a simulator and trying to maliciously clone and copy IP addresses and stuff like that, they have a bunch of technologies, like routes section and all the other stuff. It is just that they have something that no one else can deal with, that is, massive amounts of big data about the malicious IP addresses, malicious device fingerprinting, the fingerprinting router devices, and the fingerprints. You can query against this stored information to find out whether your app is in a good, nice environment. If yes, you get a green light. The last time I checked, there were about 400 or 500 features that they can stack against, which is pretty extensive. They give you a score against all those features for every application that you installed on it. It is pretty good in that sense."

Cons

"The tool should enhance its reporting interface by adding more graphical elements like charts, diagrams, etc. Customers now want more vibrant visuals—bright charts with larger tables, perhaps incorporating animations and 3D elements. Sometimes, it's challenging to explain to customers why the current solution, while good, lacks these kinds of visuals."

"One limitation is it only maintains six months' worth of data. It would be nice if it went back even further to help us really identify and flush out patterns that go on longer."

"We encountered a few issues with API calls to the solution."

"The tool is very expensive."

"SDK is probably where the biggest issue is. The SDK configuration is a bit lacking. If you are integrating it into your workflow, it is very cumbersome and very difficult to integrate. You have to understand and be an expert in low-level mobile applications to integrate this stuff. Integration should be easy based on what they are providing, but unfortunately, it is not. It is very difficult. My work has been trying to simplify the integration process because integrations bring a lot of value. Most companies don't see their value because it is such a difficult process. For integration, you have to get it right as well, but it is very difficult to get it right because they don't help you in tuning your future parameters. Because of this, it is very difficult to tune your future parameters and your risk score. If you are Uber, your risk score will be very different from a banking client that is pushing funds. These two things need to be improved for me. The rest is pretty good."

"We are only using one feature. We haven't found the other features to be very good or very powerful."

"It would be useful if they could offer real-time processing."

"The interface does look a bit outdated."

"Could be more intuitive and user friendly."

Pricing and Cost Advice

"I rate the solution's pricing a seven out of ten."

"I am not aware of the price. I have always come in after it has been negotiated. The clients do get a return on their investment. It mitigated a massive DDoS, and it definitely detects fraudulent activities on banking platforms. They have definitely got their ROI back because there is continued investment in ThreatMetrix over time."

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824,067 professionals have used our research since 2012.

Top Industries

By visitors reading reviews

Financial Services Firm

44%

Computer Software Company

19%

Real Estate/Law Firm

University

Financial Services Firm

49%

Computer Software Company

11%

Insurance Company

Retailer

Company Size

By reviewers

Large Enterprise

Midsize Enterprise

Small Business

No data available

Questions from the Community

What is your experience regarding pricing and costs for IBM Safer Payments?

I rate the solution's pricing a seven out of ten.

What needs improvement with IBM Safer Payments?

The tool should enhance its reporting interface by adding more graphical elements like charts, diagrams, etc. Customers now want more vibrant visuals—bright charts with larger tables, perhaps incor...

What is your primary use case for IBM Safer Payments?

Our customers use this solution to check financial transactions for their payments. Our customers, mainly banks, use this solution to verify the accuracy of their clients' financial transactions. T...

What do you like most about ThreatMetrix?

It is a stable solution.

What is your experience regarding pricing and costs for ThreatMetrix?

An average of 8000 hits a year costs $60,000.

What needs improvement with ThreatMetrix?

The tool is very expensive.

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Product Reports

Fraud Detection and Prevention

Download IBM Safer Payments product report

Download ThreatMetrix product report

Learn More

IBM

Overview

Adapt faster to changing threats and new products by dramatically shrinking the time it takes to test and deploy new profiles, rules, and models. Using a unique cognitive computing approach, IBM Safer Payments profiles the behavior of any entity and delivers best-fit analytics interactively to fraud professionals. This proven technology is already protecting some of the world's largest and most complex payment portfolios. Outthink fraud by rethinking detection.

ThreatMetrix is a robust fraud prevention solution, enhancing fraud assessments through a vast database of malicious IP addresses and device fingerprints. Its easy integration and real-time analytics offer valuable insights, making it ideal for assessing transaction risks and maintaining device identity integrity.

ThreatMetrix provides a user-friendly interface for transaction analysis, featuring customizable rules and reports to monitor suspicious activities. Its device profiling and real-time analytics deliver comprehensive insights into login attempts and activities, contributing to effective fraud detection and risk management. Users benefit from simple integration and scalability, supported by dependable technical support and proactive updates. While effective, enhancements are needed in SDK integration complexity, real-time processing, and case management automation. An outdated interface, high pricing, limited data storage, and the need for better data field collaboration also present challenges. More intuitive rule engines and comprehensive threat detection features would improve the user experience.

What are ThreatMetrix's most important features?

Vast Database: Provides accurate fraud assessments using malicious IP addresses and device fingerprints.
Customizable Rules: Offers adaptable transaction analysis with diverse reporting capabilities.
Device Profiling: Maintains integrity through detailed device intelligence.
Real-Time Analytics: Delivers insights into login attempts and user activities.
Scalability and Integration: Facilitates easy system integration for varied business needs.

What benefits or ROI should users expect?

Accurate Fraud Detection: Through comprehensive data analysis.
Risk Mitigation: Offers insights for effective prevention strategies.
Enhanced Security: Identifies unauthorized access and potential threats.
Simple Integration: Seamless implementation in existing systems.
Reliability: Users gain consistent support and updates.

ThreatMetrix is implemented across industries like retail, banking, and digital services for fraud detection, device intelligence, and maintaining device identity integrity. Organizations employ it to detect unauthorized mobile access, identify credit card fraud, and prevent identity theft. Integrated through an SDK with backend API management, it enables device checks, transaction risk assessment, and access control management.

Sample Customers

Borgun

Trip Advisor, Stone Hub, TD Bank, Rabobank, GoPro

Fraud Detection and Prevention