Merchant Onboarding

Learn How A Business SaaS Leader Reduced Their Fraud Rate By 35%

The Problem

Verification presents a classic challenge of balancing proper fraud mitigation with the delivery of a smooth customer experience.

Without behavioral visibility, this leading business software company’s verification approach was not optimized to effectively drive that ‘friction-right’ onboarding journey. Sophisticated fraud persisted, while high friction (applied to 50-75% of applicants) was causing high abandonment.

The Solution

Neuro-ID integrated its technology behind the merchant onboarding process to collect high-fidelity, field-level behavioral metrics. By translating in-session behavior, Neuro-ID’s real-time behavioral analytics was implemented to detect and segment applicants with highest fraud potential, from those exhibiting genuine behavior.

This unlocked the ability to personalize verification paths with a sharp lens into anomalous behavior and applicant intent, which helped them fight fraud while focusing on conversion and growth.

“At a time where COVID has spiked fraud rates as high as 80%, our charge-off rates are the lowest they have been in 24 months.”

Fraud Strategy Director

The Impact

Despite challenging times and heightened fraud activity (double the norm), their onboarding performance took a positive turn with the help of Neuro-ID. 

  • Reduced historic fraud rate by 35%
  • Reduced verification friction for genuine customers
  • Increased conversion rate

Schedule A Demo Today

Let’s discover how our Human Analytics™ Platform can reduce your customer friction.