How an Innovative FinTech Stopped ATOs Without Adding Friction

Summary

By partnering with SEON, the company dramatically reduced ATOs, automated fraud prevention and freed its analysts to focus on strategic initiatives. SEON’s adaptive device intelligence and customizable rule engine empowered the business to protect users at scale while delivering a seamless experience.

About the Company

An innovative fintech that enhances financial access for retail, healthcare and hospitality employees, the company provides tools to help users manage earnings and achieve financial wellness while supporting businesses that offer benefits.

The Challenge: A Surge in ATOs Threatened Growth

As the company scaled rapidly, it became a prime target for fraudsters. Account takeovers (ATOs) skyrocketed, undermining user trust and threatening hard-earned growth. The company’s existing fraud tools relied on simple triggers – flagging new devices and prompting two-factor authentication (2FA). However, attackers adapted fast, socially engineering users to hand over their 2FA codes, granting them access to accounts and leading to an overwhelming number of ATO incidents.

Fraud and risk teams were quickly overwhelmed. Manual reviews piled up, analysts spent hours chasing fraud that had already slipped through and operational costs soared. More importantly, the business faced a tricky balancing act: tighten security without frustrating legitimate customers. Clearly, the company needed a more thoughtful, faster way to detect and stop ATOs before they happened — without putting up unnecessary barriers for good users.

The Solution: Smarter Fraud Defenses Without Sacrificing User Experience

The company needed more than just another layer of friction — it required intelligence.
After evaluating multiple vendors, SEON was selected as the company’s fraud prevention system of record. SEON quickly became a force multiplier for the company’s fraud and risk team, transforming their ability to detect and stop ATOs in real time.

SEON’s advanced device intelligence made the difference. Fraudsters who tricked users into sharing screens and 2FA codes were suddenly exposed. SEON identified unusual patterns — such as device manipulations or silent changes to account details — across thousands of data points without disrupting the experience for genuine customers.

Customization was key. SEON’s no-code rule builder empowered the company’s analysts to fine-tune fraud defenses on the fly, targeting emerging attack patterns with precision. And with machine learning models that adapt transparently to the company’s evolving data, analysts weren’t just reacting — they were staying ahead. The result: faster detection, reduced manual review, and a safer, smoother experience for every user.

Implementation in Action

• Phased Integration: The company rolled out SEON in carefully planned stages, ensuring zero disruption to the user experience.
• Data-Driven Setup: Fraud detection rules were refined using historical data, delivering immediate impact when SEON went live.
• Collaborative Optimization: Working closely with SEON’s technical team, analysts fine-tuned detection thresholds and strategies in a sandbox environment — resulting in faster, more accurate prevention from day one.

Takeaways

By implementing SEON, the company significantly strengthened its fraud prevention capabilities, reducing ATO incidents and improving fraud team efficiency. Automating fraud detection and customizing rules allowed the company to protect user accounts while maintaining a seamless customer experience.

With SEON’s fraud prevention solution in place, the company continues to provide secure financial services while scaling its operations. The success of this initiative reinforces SEON’s value as a trusted fraud prevention partner, ensuring ongoing protection against evolving fraud threats.