Cybersecurity for Fintech
Block Fintech Fraud Before Transactions Happen
Catch high-risk users instantly with device and behavioral analysis.
Stats on Fintech Breaches
$2.5B
Fraud Losses
In 2024, U.S. consumers lost over $12.5 billion to fraud — a 25% rise from the previous year.
73%
Of Organizations
In 2024, 83% of organizations faced at least one account takeover, underscoring the threat’s reach.
89%
Of Monitored Organizations
In 2024, 99% faced ATO attempts; 62% saw at least one breach.
Why Fintech Data Security Matters
Account Takeovers Are Draining Fintech Platforms
Even with MFA in place, fintech users fall victim to session hijacking, phishing, and SIM swaps. Without continuous behavioral monitoring, account takeover fraud often goes undetected until damage is done.
Fintech Onboarding Is Vulnerable to Synthetic Fraud
Fraudsters use fake identities to exploit loans, open mule accounts, and launder funds. Legacy KYC and document checks miss the behavioral and device-level signals needed to spot them.
Fintech Compliance Demands Real-Time Risk Insights
AML, KYC, and PSD2 regulations require accurate fraud detection and audit trails. Static rules and delayed signals increase exposure to fines and reputational damage.
Fraud Doesn’t Stop at Login
Once inside, fraudsters exploit post-login blind spots to move money, change settings, or hijack accounts. Fintech systems need continuous post-authentication monitoring, not just perimeter security.
Solution
Issues We Resolve
We protect your app from the most prevalent cyber attacks
Secure Logged-In Users, Not Just Logins
Reduces account takeover losses by up to 62% while maintaining seamless user experience.
Book a Demo83%
Financial firms experienced at least one ATO.
$13B
ATO cost for fintechs in 2023 alone
How We Prevent Account Takeover
Learn More →Prevent identity theft and data breaches caused by unauthorized access to user accounts. Account Takeover (ATO) attacks exploit vulnerabilities using tactics like impersonation, keylogging, smishing and phishing, and session hijacking, putting sensitive information and trust at risk.
Learn More →Link Analysis for Fraud Rings
Uncover connections between suspicious fintech users, devices, IPs, and fake accounts using graph intelligence.
Seamless Integration with Fintech Stack
Deploy via API alongside KYC, AML, payment gateways, MFA, and core banking or crypto systems.
Continuous Monitoring for Transactions
Track user behavior and session risk across logins, wallet access, and financial transactions in real time.
Compliance
From Regulation to Reputation
GDPR: Securing EU Data via Safe Handling and Breach Reporting
Meta (Facebook) was fined €1.2 billion (2023) for unlawful data transfers to the U.S.
Amazon Europe was fined €746 million (2021) for processing personal data without valid consent.
PCI DSS – Sets standards for encrypting and securing payment card data.
Heartland Payment Systems paid over $110 million (2015-2019) in settlements after a data breach involving 100M+ cards.
Non-compliant merchants risk $5,000–$100,000/month in penalties from card brands.
Fintech Security Beyond Login
Most attacks now happen after authentication. CrossClassify detects fraud during sessions, transfers, and account changes. Traditional security misses this post-login activity.
Behavioral Biometrics for Finance
We analyze how users swipe, type, and navigate. These patterns reveal fraud even when credentials are valid. Behavior never lies.
Compliance-Ready Risk Scoring
CrossClassify helps meet PSD2, KYC, AML instantly. Real-time risk scoring supports fast, compliant decisions. Stay audit-ready effortlessly.
“We integrated their SDK in less than a day—both on web and mobile. Within the first week, their graph analysis flagged two fraud rings we hadn’t spotted. And the ML models? They’ve reduced manual review time by 60%.
What surprised us most was how quickly it started learning from new patterns. It’s like we have an evolving fraud analyst baked into our stack.”
Max Daneshvar
CTO at Lendela
Frequently asked questions
Fintech platforms manage sensitive financial data and transactions, making them prime targets for fraudsters. With digital onboarding, instant payments, and decentralized systems, fintechs face unique threats—from account takeover to synthetic identity fraud—that demand real-time, intelligent protection.
Fintech platforms often face:
- Account takeover (ATO) via credential stuffing
- Fake account creation for money mule activity
- Bot attacks for promo and referral abuse
- Phishing and social engineering
- Fraudulent transactions using stolen credentials or cards
CrossClassify detects and blocks these threats with device fingerprinting and behavioral analytics.
We provide:
- Real-time fraud scoring at login, signup, and transaction
- Device and session fingerprinting to catch repeat offenders
- Behavioral pattern detection to identify bots or outlier users
- API-based risk assessment integrated into your fintech workflows
Our AI engine adapts to emerging fraud tactics without adding friction to legitimate users.
Fintech companies face:
- Rapid digital growth without mature risk controls
- Pressure to onboard users quickly (increasing fraud exposure)
- Regulatory requirements like GDPR, PCI-DSS, SOX, and PSD2
- Gaps in fraud visibility between mobile apps, web portals, and APIs
CrossClassify helps unify fraud signals across all platforms for better compliance and insight.
Best practices include:
- Using risk-based authentication
- Blocking suspicious device fingerprints
- Monitoring for high-risk behavior in real time
- Validating identities without relying solely on static KYC
- Integrating fraud prevention tools like CrossClassify from day one
It’s the process of identifying, assessing, and mitigating risks related to digital finance operations. This includes:
- Credit risk from unverified applicants
- Fraud risk from fake users and transactions
- Cyber risk from external attacks and data breaches
CrossClassify strengthens fintech risk controls by preventing fraud before it happens.
Cyberattacks in fintech can result in:
- Financial loss from unauthorized transfers
- User churn due to breached trust
- Reputational damage
- Regulatory fines
- Operational downtime
CrossClassify offers preemptive defense against these outcomes by detecting fraud signals early.
Traditional checks often miss fake accounts. CrossClassify detects:
- Suspicious email/IP combinations
- Velocity of registrations
- Emulated devices or anonymizers
- Bot-like interactions (e.g., copy-paste, zero hesitation time)
We deliver a fraud score instantly, helping fintech apps filter fake users with precision.
Yes—fintech companies often scale faster and rely heavily on open APIs, third-party tools, and digital touchpoints. Without layered fraud prevention, they face more sophisticated attacks and less room for error compared to regulated banks.
Unlike static rules or CAPTCHA-based defenses, CrossClassify:
- Adapts to attacker behavior with machine learning
- Profiles users based on device, behavior, and network
- Integrates seamlessly into modern tech stacks
- Balances security and user experience with invisible protection
Let’s Get Started
Elevate your Fintech app's security with CrossClassify. Schedule a personalized demo to see how we protect customer accounts and ensure compliance with industry standards.
