Fraud Becomes a Bigger Cost of Running a Neobank

Neobanks are spending far more on fraud prevention even as their fraud losses continue to rise. Fraud prevention spending among neobanks, digital-only banks and FinTechs jumped 357% in a year, from $1.8 million to $8 million per institution, according to the PYMNTS Intelligence report “Scams Get Personal: Why Banks Pay More to Fight Fraud”. Average […] The post Fraud Becomes a Bigger Cost of Running a Neobank appeared first on PYMNTS.com .