The Power of Behavioral Analytics: A CEO’s Perspective
As attacks evolve, fraud prevention is a growing challenge and greater priority for businesses. 60% of organizations are reporting increased fraud losses in 2025, and seven in ten are boosting their fraud prevention budgets to stay ahead of new threats. But not all leaders are taking the same approach: some are tweaking their existing tools to target emerging fraud types, while others are embracing new solutions entirely.
When concerns about modern attacks grew too strong to ignore, Terrace Finance and its CEO Andy Hopkins chose the ladder. They brought NeuroID’s behavioral analytics into their already-formidable fraud stack.
“Terrace Finance turned on NeuroID, and that was my most nerve-wracking day. We knew we would see data that we’ve never seen before — and sure enough, we were right in the middle of an attack.”
— Andy Hopkins, CEO, Terrace Finance
Now, Terrace uses NeuroID not just to detect fraud, but to understand how fraudsters are targeting them and what they might do next. Hear more from Andy below:
Behavior Sees What Others Can’t
Many traditional fraud detection tools focus on verifying the data that’s entered into a system. Terrace had strong tools to do just that — but gained a new layer of visibility once they added NeuroID.
“What NeuroID does special for us is it focuses on the entry of the information into our system. We have a lot of great tools … that help us focus on the data that got entered and whether that data is real or not. But this uniquely looks at how it got done — and it’s the only tool we could find on the market that solved that particular problem.”
That behavioral layer — how users enter their data — reveals intent (and coordination of attacks) in ways other data sources can’t. And when Terrace turned on NeuroID, the insights uncovered something interesting about the fraudsters at their doorstep.
“Probably the piece that surprised us the most was that some of the people that were attacking our system with bad intent were focused in ways that we thought would be very clustered. We thought we’d find one weak spot in our system and they would go after that one weak spot. What we found was geographic and merchant and customer dispersion.”
Taking Action On Behavioral Insights
Behavioral analytics gave Andy and Terrace immediate visibility into fraudsters’ activity. More importantly, NeuroID enabled their team to act equally as quickly on what they were seeing.
“What was really cool about it is the (NeuroID) team just jumped in like, ‘Let’s dig into this. Let’s look at this. Let’s show you how to use the tool and even how to actually start to do the combating part of the work.’ We do our own internal underwriting system build, so my engineers could immediately take that data and start taking action. Within … the day, you could start to see the curves go in the right direction.”
Behavioral data streamlines risk detection and dramatically shortens the amount of time it takes for Andy’s team to response to attacks. Now, they can take action against fraud attacks in hours rather than days.
What Other Leaders Need to Know
Andy’s experience with NeuroID has led him to challenge others in the fintech space to rethink their approach to fraud and risk.
“You don’t know what you don’t know. It’s easy to think that you have a system and processes and technology to deal with problems. But what’s unique about NeuroID is the approach they take in gathering the data — and then what you can do with that data.
I would challenge most people … that they probably haven’t seen data in this format. And once they see it, they’ll be surprised by how much they can glean out of it and how much they can make it a competitive advantage moving forward.”
Today, Terrace Finance relies on behavioral analytics to protect its growing ecosystem of partners. Since turning on NeuroID, they’ve cut fraud in half, stopped major attacks from reaching lenders (including one that could’ve incurred $250K in losses) and scaled with more confidence than ever before.
To hear more about Terrace Finance and NeuroID, watch Andy Hopkins’ full interview, then read the complete case study.
