Payment Processor Streamlines Customer Onboarding with 97% Decisioning Accuracy from NeuroID
A full-stack payment processing fintech needed to scale their defenses against new fraud challenges brought on by their rapid-scale expansion.
Challenge
Prevent Fraud Without Adding Friction
A North America-based full-stack payment processing fintech was struggling to keep up with the new fraud challenges that followed a rapid-scale expansion. Their previously effective strategy combined in-house defense systems with manual verifications. But expansion brought new levels of attack sophistication and velocity, and the payment processor simply couldn’t keep up. In addition to revenue loss, the fraud was starting to impact their high standards of customer protection, a core value and competitive differentiator. The company’s rapid growth required a scalable, proven solution that would prevent fraud without adding friction.
Solution
Streamline Onboarding and Increase Fraud Capture at Scale
With NeuroID’s behavioral analytics at the top of the payment processor’s application review funnel, they could quickly and confidently kick fraudsters out earlier. This saved time and effort for the payment processor’s review team, leading to increased operational savings, fewer costly step-ups, and overall significantly decreased onboarding costs.
Behavior Drives Results
With NeuroID’s behavioral analytics in place, this payment process could now make better-informed, cross-departmental decisions to fuel growth.
Improved decisioning allowed for fewer costly step-ups and more accurate rejection at top-of-funnel onboarding.
Behavioral analytics helped drastically reduce the number of fraud attacks, while also reducing the amount of manual review costs.
With NeuroID streamlining their onboarding process, the payment processor could focus on new opportunities for growth instead of being overwhelmed by fraud.
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