Credit Card Issuing

The Problem

When managing fraud, it’s natural to focus on catching the ‘bad guys.’ Decisioning engines crunch through historic data, coupled with overtooled verification processes to weed out the bad and minimize fraud loss. Unfortunately this is often at the expense of perfectly good customers. For this credit card issuer, a large percentage of low-fraud-risk applicants were being subjected to unnecessary verification – which Neuro-ID ultimately revealed as a 43% false positive rate.

The Solution

NeuroID worked with the issuer to integrate its lightweight technology and begin collecting and translating high-fidelity, field-level behavioral metrics in reNeuro-ID worked with the issuer to integrate its lightweight technology and begin collecting and translating high-fidelity, field-level behavioral metrics in real time. By translating in-session behavior, Neuro-ID detected applicants with lowest fraud potential to fast track around unnecessary friction-heavy verification

The Impact

Neuro-ID’s solution gave their client the confidence to pave a lower-friction path for their best applicants. 

• Isolated 43% of population to fast track, with a fraud rate of only .0189%
• Reduced false positives, increasing conversion
• Estimated annual ROI of $1M in additional revenue