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Liminal's Latest Report Projects a $1.5 Billion Global Market for Account Takeover Prevention in Banking by 2028
[May 29, 2024]

Liminal's Latest Report Projects a $1.5 Billion Global Market for Account Takeover Prevention in Banking by 2028


Escalating ATO fraud threats demands advanced security and compliance solutions, reveals a new market survey and analysis

NEW YORK, May 29, 2024 /PRNewswire/ -- Liminal, a global leader in market and competitive intelligence for fraud prevention technology, released its latest research report, projecting significant growth in the Account Takeover (ATO) prevention market for banking. The total addressable market (TAM) is expected to increase from $954.8 million in 2024 to $1.5 billion by 2028, with a compound annual growth rate (CAGR) of 9.3%. This growth is driven by the escalating threat of ATO attacks and the need for advanced, compliant security measures that protect banks and their customers.

Account takeover fraud poses a significant threat to the banking sector. Unauthorized access to user accounts through phishing, social engineering, malware, or stolen credentials can lead to theft, unauthorized purchases, and further exploitation. Mobile apps and web interfaces are the main ATO targets, but only 44% of banks use mobile device signals in defenses. Despite the high stakes, many banks still need to leverage available technologies to combat emerging threat vectors. The Market & Buyer's Guide to Account Takeover Prevention in Banking explores the supply and demand side of the ATO solution landscape and the in-demand product capabilities for advanced ATO prevention solutions to mitigate financial losses and rotect customer trust.



"Our latest report highlights the urgent need for banks to up their game in ATO prevention," says Travis Jarae, CEO at Liminal. "With ATO attacks becoming more sophisticated and the regulatory landscape more complex, banks must prioritize advanced security technologies that can seamlessly integrate with existing systems while ensuring compliance. This is about protecting assets, preserving customer trust, and staying ahead of fraudsters."

Key findings from the report's survey of banking executives involved in technology purchasing include:


  • Banks focus 3x more on account login security than account recovery, but 94% of respondents still say account recovery is essential.
  • Only 44% of banks use mobile device signals to defend against ATO, despite mobile apps and web interfaces being prime targets.
  • 96% of banks need help to balance ATO prevention and privacy laws, and 82% need customized solutions for regional regulations.
  • Concerns about data restrictions by Big Tech, such as limitations on device signals and Chrome cookies, affect 96% and 90% of banks, respectively.

The report identifies a shift towards more advanced, customizable, and integrated ATO prevention solutions. Effective tools include app-based and biometric authentication, continuous authentication, and data breach monitoring. Behavioral biometrics and AI-driven solutions are gaining traction due to their ability to analyze unique user behavior patterns. Notably, 89% of surveyed businesses report cost reductions from ATO prevention, and 86% also see increased revenue. Additionally, 78% of banking executives give positive feedback on using advanced security measures despite concerns about convenience. However, 80% of practitioners cite that legacy systems hinder the adoption of passwordless authentication methods. Enhanced identity verification remains the most sought-after feature in ATO solutions.

Liminal's latest report, The Market & Buyer's Guide to Account Takeover Prevention in Banking, explores these demand-side dynamics and provides insights into business challenges and priorities today. It is essential for organizations seeking to enhance their security frameworks while ensuring customer satisfaction and compliance with evolving regulations.

Liminal is a global market and competitive intelligence firm specializing in financial crime compliance, cybersecurity, digital identity and fraud prevention, and trust & safety technology solutions for financial services, e-commerce, and other industries. Founded in 2016, Liminal offers services supporting executive decision-making at all product and business lifecycle stages. We work for some of the world's most prominent business leaders on building, acquiring, and investing in the next generation of solutions and technologies. We provide access to proprietary data and analysis, strategic frameworks, and actionable insights on the industry's leading market intelligence platform, Link™.

Sign up for a free Link account to access our market and buyer's guides, or learn more at www.liminal.co. Follow Liminal's news and updates on LinkedIn or subscribe to our newsletter.

Contact Information:
Stacy Schulman
Liminal Strategy, Inc.
[email protected] 
1 (602) 616-9818

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SOURCE Liminal Strategy, Inc.


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