How NeuroID Saves Elevate $1-2M a Year Through Accurate Fraud Detection and Operational Efficiency Improvements
Customer Story

How NeuroID Saves Elevate $1-2M a Year Through Accurate Fraud Detection and Operational Efficiency Improvements

The Power of Pre-Submit

Elevate could see fraud rings attacking in real-time but felt helpless to stop them. Frequent fraud ring attacks were causing losses of up to $500k per incident, plus the associated operational costs of heavy manual reviews and repairs. And worse—attempts to stop fraud rings through additional verifications were adding friction for the company’s legitimate applicants.

There was an organized fraud ring that attacked our system, and although we caught them fairly quickly, they got through a lot of fraud checks. They got through many layers of verifications. So that’s when we decided to enhance our tools and began to work with NeuroID.

Ryan Prince, Manager, Data Science, Elevate

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