Case Study: FairMoney achieves 8‑second loan decisions and fraud‑resistant onboarding with SEON's digital & social footprint checks

FairMoney Onboards Better Neobank Customers Thanks To Digital & Social Footprint Checks

FairMoney, an app-based neobank serving 1.3 million users across Nigeria and India, faced high fraud risk and unreliable customer data that made risk modeling and precise blacklisting difficult as it scaled. To tackle safe, low-friction onboarding, FairMoney partnered with SEON and deployed SEON’s digital & social lookup and device fingerprinting modules to capture alternative data and assess applicants behind the scenes.

SEON’s combination of digital and social footprint checks with device fingerprinting let FairMoney instantly filter obvious fraudsters, automate decisions, and streamline onboarding; within a month they were offering microloans up to $2,000 in under five minutes, averaging a loan decision every 8 seconds and over 10,000 loans offered daily. FairMoney also reports more flexible blacklisting and strong support from SEON, enabling faster, lower‑risk growth.

FairMoney

Juris Rieksts-Riekstinš

Head of Risk