Incognia, a cross-device risk intelligence company based in the US, has partnered with Webull Brazil to incorporate device and location analytics into the digital investment platform’s onboarding and anti-fraud systems.
As a result of this integration, Webull Brazil’s automated account approval rate increased from 75.7% to 92.5%, while manual verification cases dropped from 19.2% to just 2.5%.
This partnership aimed to address a common challenge faced by fast-growing fintech firms: promotional campaigns intended to boost user acquisition inadvertently attracted fraudulent activities, such as bonus abuse and account sharing, which tampered with the onboarding process. Traditional verification methods introduced delays in approving legitimate accounts and failed to effectively counter coordinated fraud.
Improving Detection and Reducing Fraud
Incognia’s software development kit (SDK) analyzes device integrity, identifies tampering tools like emulators and app cloning software, and verifies location behavior in real time. This ensures risk assessment without inconveniencing genuine users. Additionally, the integration detected remote access threats by flagging over 7,650 devices using tools such as AnyDesk and TeamViewer, which are often used for phantom-hand account takeover attacks.
By leveraging Incognia’s location intelligence, Webull Brazil was able to pinpoint geographic areas with high-risk activities, allowing the company to cease promotional campaigns that attracted abusive behavior. This enabled a more focused growth strategy targeting higher-quality users. The reduction in manual review workload also helped decrease compliance burdens, facilitating a more scalable onboarding process as the platform expands throughout Latin America.
According to the Webull Brazil team, Incognia’s device intelligence turned their rapid growth into profitability by safeguarding against complex fraud without hindering the speed of account creation. André Ferraz, CEO and Co-Founder of Incognia, stated that combining device intelligence with location validation and behavioral risk signals allows platforms to grow swiftly while effectively preventing organized fraudulent activities.
