FinTech Startup Reduces Fraud by 85%
PaySecure
October 2025
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Key Results
85%
Fraud Reduction
60%
False Positive Reduction
$2.5M
Savings
99.2%
Accuracy
The Challenge
PaySecure, a growing fintech startup, was losing millions to fraudulent transactions. Their rule-based fraud detection system had a high false positive rate, blocking legitimate transactions and frustrating customers.
They needed a sophisticated ML solution that could detect fraud in real-time while minimizing false positives.
Our Solution
NoveraIQ deployed an ensemble fraud detection system:
- XGBoost Classifier: Primary fraud detection model with 98% accuracy
- Neural Networks: Deep learning for complex fraud patterns
- Anomaly Detection: Isolation Forest for unusual transaction patterns
- Real-time Scoring: Sub-100ms prediction latency
Technologies Used
XGBoost
Neural Networks
Isolation Forest
The Results
Results after 3 months:
- 85% reduction in fraudulent transactions
- 60% decrease in false positives
- $2.5M saved in fraud losses
- 20% improvement in customer satisfaction
- Real-time fraud detection with 99.2% accuracy
The fraud detection system from NoveraIQ has been a game-changer. We've dramatically reduced fraud while improving the customer experience.
Michael Chen
CTO, PaySecure
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