- Case Study -
Learn how a business SaaS leader reduced their fraud rate by 35%
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.
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.”
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