Top 5 Bank Optimizes Its Fraud Stack and Stops Advanced Attacks with NeuroID
Facing hyper-advanced attacks, a Top 5 Bank used NeuroID to close its fraud detection gaps and protect against evolving fraudsters.
Challenge
Top-of-Funnel Detection of Advanced Fraud Attacks
As a large, popular attack target, a Top 5 Bank struggled to stop surging third-party fraud. Fraudsters were able to work their way downstream in the bank’s onboarding flow, prompting unnecessary data calls and extensive manual reviews. Some still managed to bypass the bank’s defenses and successfully infiltrate its ecosystem — in the 4 days it took for the bank to detect an attack, fraudsters had plenty of time to cause damage. As attacks grew more sophisticated and powerful, stopping them only became more difficult.
Solution
Modern, Real-Time Fraud Detection with Behavioral Analytics
With NeuroID’s behavioral analytics at the top of its fraud funnel, the bank can now detect and stop attacks in under an hour — a drastic improvement from their prior tools. With fraudsters being forced out earlier, the bank spends less on unnecessary data calls while boosting fraud detection performance at scale.
Behavior Drives Results
With NeuroID’s behavioral analytics, the bank is able to detect sophisticated third-party fraud attacks faster and more accurately.
With real-time fraud detection through behavioral analytics, the bank can detect attack 4x faster compared to its previous tools
By eliminating unnecessary data calls for fraudulent users, behavioral analytics reduces the bank’s digital onboarding costs by 30%
Behavioral analytics proactively protects the banks from evolving attack strategies, including next-generation bots
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