Case Study: Top U.S. Credit Union achieves 95% reduction in residual Zelle fraud losses with BioCatch

Top U.S. Credit Union Disrupts Cybercrime Network and Realizes 95% Reduction in Residual Zelle Fraud Losses in Two Months

Top U.S. Credit Union Company was targeted by an advanced cybercrime gang shortly after launching Zelle in its mobile banking app, with fraud spiking to 7% of total transaction volume. After adding MFA and transfer limits, the credit union reduced losses but at the cost of member experience and rising support calls, creating the need for a longer-term fraud prevention approach. BioCatch provided behavioral biometrics to help detect account takeover activity and social engineering attacks.

BioCatch was implemented on top of the credit union’s existing controls to identify suspicious behavior in real time, even without prior user history. The solution immediately exposed patterns associated with fraudsters, and within two months the credit union reported a 95% reduction in residual Zelle fraud losses, bringing fraud down to 0.02% of Zelle payment volume. The deployment also reduced call center volume and helped the credit union restore fuller access to Zelle while disrupting the cybercrime network.