Case study

Digital Bank HYPE Reduces Onboarding Costs with SEON

Industry

Digital Banking

Use Cases

Customer profiling

Automation and efficiency

About

Since 2015, Hype has leveraged its deep understanding of Italian financial preferences to become a market leader, attracting 1.7 million clients with innovative financial solutions.

  • Costly failed IDV checks
  • significant manual review effort
  • Friction in the customer sign-up journey
  • Reduced fraudsters reaching the IDV stage
  • Auto-approvals enabled growth and scaling
  • Removed friction from genuine users

The Challenge

Martina’s team identified higher fraud risk from certain Italian regions early on. Initially relying on static rules and manual reviews, this approach became unsustainable as Hype scaled. An automated solution was needed to manage increasing applications and avoid costly failed identity verification (IDV) checks.

The Solution

After evaluating several tools, Hype chose SEON for its customizable risk-scoring system, which enabled tailored rules based on:

  • IP Address Analysis: Flagging signups from high-risk locations by adjusting fraud scores accordingly.
  • Digital Footprint Insights: Scanning 100+ digital and social platforms to determine a customer’s legitimacy.
  • Device Intelligence: Analyzing thousands of device data points, including suspicious browser setups and configurations.

SEON’s flexibility enabled Martina’s team to fine-tune these risk rules, allowing them to automatically block high-risk applicants before they reached the costly IDV stage.

The ability to easily customize and adjust the risk scoring system was a game-changer for us,” Martina explains. “By catching high-risk applications early, we’ve significantly reduced unnecessary KYC checks and saved countless hours of manual reviews.

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90.06%

The Results

With SEON in place, Hype achieved substantial efficiency improvements:

  • Cost Savings: Blocking fraudulent users before IDV stages reduced operational costs.
  • Enhanced Onboarding: Low-risk customers enjoy frictionless onboarding, while medium-risk users face additional checks, and high-risk applications are automatically rejected.
  • Improved Approval Rates: With a 90.6% auto-approval rate, most signups are quickly identified as genuine, supporting faster growth without compromising security

Martina states”Automation has allowed us to avoid the pitfalls of onboarding bad actors, which not only improves the efficiency of our risk management but also alleviates the burden on our legal and compliance teams

SEON’s solution fits seamlessly into Hype’s risk management strategy by delivering automated, scalable fraud prevention that reduces costs and speeds up onboarding. As Martina concludes:

We’re constantly searching for the best partners to enhance our processes without compromising on security or quality. SEON’s tools allow us to be both frictionless and effective, making it the perfect fit for us.

Martina Virgilio