Terrace Finance Cuts Fraud in Half with NeuroID
“Within a day, you could start to see the curves go in the right direction. NeuroID’s training on how to spot patterns and understand which activities had the highest risks blew my team away.” — Andy Hopkins, CEO, Terrace Finance
Challenge
High-stakes, fast-evolving fraud attacks
Terrace Finance’s fast-paced growth (35%+ annually) was fueled by its commitment to fraud prevention — but as AI-powered fraud grew and traditional controls fell behind, the stakes rose. Reactive controls could no longer keep up with increasingly coordinated attacks, putting merchant and lender relationships at risk. To sustain growth and protect its ecosystem, Terrace set out to find a proactive solution that could detect and stop fraud in real time.
Solution
Pre-submit protection with behavioral analytics
When NeuroID went live, Terrace Finance gained a new level of visibility into user behavior — and caught a coordinated fraud attack as it was unfolding. With NeuroID’s behavioral signals and expert guidance, Terrace quickly shifted from reactive defenses to proactive fraud prevention. Now, they can detect and stop attacks within hours, not days, and automatically block risky applicants before fraud reaches their lending partners.
“We’re blessed that our merchant partners will notify us when they think something’s wrong … We can jump right into NeuroID, drill down, look at it, and say what it is that they’re seeing or what it is that they’re sensing. It’s a really neat experience for us with our customers.” — Andy Hopkins, CEO, Terrace Finance
Behavior Drives Results
Terrace Finance continues to protect its customers with an expanded, proactive approach to fraud prevention powered by NeuroID.
50%+
REDUCE MANUAL REVIEWS
50% reduction in manual reviews
$250K
PREVENT LOSSES
$250K in potential losses prevented in a single attack
50%
STOP FRAUD
50% reduction in fraud for lending partners
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