A recent report from Datamonitor found that consolidation is being driven by the rising cost of fighting fraud, as well as the increasing complexity of tracking information as banks diversify their services, CIO.com stated.
The report's author, Jaroslaw Knapik, told the site that integration allows divisions such as anti-money laundering and fraud prevention - which have differing origins in regulatory compliance and risk management - to use one source of data for detecting suspicious activity.
He added that the need to consolidate information on card fraud, online fraud and money laundering is becoming more pressing as banks roll out services such as mobile and internet banking.
Deloitte's Ivan Zasarsky agreed, saying: "All of those new channels are additional avenues of risk. The only way that financial institutions can get a proper view is to consolidate the information that's coming in."
According to a recent report from the Internet Crime Compliant Center, reports of online fraud alone rose 33 per cent last year.