Grasshopper Bank Closes Fraud Gaps and Maximizes Efficiency with NeuroID

At its launch in 2019, Grasshopper was the first digital commercial bank in the U.S. focused only on small businesses, startups, and other innovation economy investors. Four years later, Grasshopper assets now total more than $600M and their services have expanded to a suite of products tailored to small businesses, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing.

Grasshopper employs only about 100 people, but it onboards 1,200+ new clients a month. With that ratio, efficiency isn’t just a goal—it’s a necessity. But staying lean couldn’t mean compromising on growth. As Grasshopper focused on expansion initiatives, they also noticed a trend of cascading fraud costs related to closing fraudulent accounts. Not adding headcount while experiencing astronomical growth in clients and fraud attacks was a struggle.

By adding behavioral analytics to Grasshopper’s workflow, NeuroID immediately closed the unseen gaps that were keeping the Grasshopper team up at night and added predictive visibility for better decisioning at the top of the fraud funnel. With NeuroID in place, Grasshopper now has constant visibility into crowd trends, allowing them to proactively protect against fraud attacks without sacrificing their team’s efficiency or customers’ experience.