Case Study: Neo Financial (Canadian FinTech challenger bank) achieves a frictionless customer experience and scalable fraud protection with Fraud.net

Neo Financial Achieves Frictionless Customer Experience

Neo, a Canadian FinTech challenger bank offering an app-based cashback credit card and savings account, needed strong fraud protection from day one without harming the customer experience. With a lean fraud team, no historical customer behavior data, and a requirement for pre-authorization prevention, low false positives, and rapid scalability, Neo engaged Fraud.net to meet these challenges.

Fraud.net implemented its Transaction AI platform with pre-authorization standard and custom rules (including velocity-focused card‑present rules), plus analytics, reporting, and a case management portal that complies with Canadian data privacy. As a result, Neo scaled to a 10X increase in transaction volume since launch with no degradation in service or customer experience and achieved average response times under 250 ms. Fraud.net’s solution delivered the flexibility and speed Neo required.

Neo