Case Study: Elevate Credit, Inc., achieves $1–2M annual fraud savings and real-time fraud-ring detection with Experian (NeuroID)

How a Ground-Breaking Fintech Uses Pre-Submit Behavior Signals to Detect Fraud Rings & Save Millions

Elevate Credit, Inc., which partners with banks to offer online credit products like RISE and Elastic, was repeatedly targeted by organized fraud rings during account openings. High‑intensity "smash-and-grab" attacks overwhelmed their fraud prevention systems, caused major losses (including a significant April 2021 incident), and drove up operational costs and manual reviews—adding friction for legitimate applicants.

Elevate implemented NeuroID’s behavioral analytics to detect pre-submit behavior signals and segment suspicious activity by applicant familiarity, enabling real-time declines and risk‑tiered verification flows without added friction. The solution reduced manual review workload (e.g., from ~300 to ~150), prevented $1–2M in annual fraud losses, eliminated significant fraud incidents since deployment, and freed the team to focus on growth and higher-value investigations.

Elevate Credit, Inc.,

Ryan Prince

Manager, Data Science