Italian neobank HYPE has teamed up with Cleafy, a cybersecurity firm specializing in extended fraud detection and response (FxDR), to bolster its anti-fraud capabilities.
The partnership aims to enhance HYPE’s real-time fraud detection mechanisms as digital threats continue to evolve. According to recent data from the Italian banking union Fabi, online payment fraud increased by nearly 30% in 2024, resulting in over EUR 559 million in losses over three years.
Focusing on emerging risks
Through Cleafy’s FxDR platform, HYPE gains access to a robust system that employs artificial intelligence and behavioral analytics to automatically identify and address potential fraud. This integrated approach minimizes manual interventions and reduces false positives while boosting the bank’s response to sophisticated schemes such as peer-to-peer payment scams.
HYPE representatives emphasized their commitment to maintaining strong digital security frameworks amid growing customer bases. They highlighted that continuous technological investments and user awareness training are integral components of HYPE’s strategy for safeguarding accounts and managing risks more effectively.
Cleafy officials noted that the partnership underscores an industry-wide shift towards proactive threat management, shifting from reactive models to real-time fraud anticipation. Cleafy’s collaboration with HYPE aligns with its role in enhancing daily money management and digital safety through a network of technology partners.
