Neobank anti-fraud spending and losses both rise
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AI-assisted source synthesis · not an independent investigation.
On October 8, 2026, PYMNTS, citing a PYMNTS Intelligence report, reported that neobanks, digital banks, and fintech companies increased their fraud protection spending by 357% in one year, with average spending per institution rising from $1.8 million to $8 million; during the same period, average fraud losses increased from $800,000 to $2.84 million. On October 16, PYMNTS further reported that a PYMNTS Intelligence survey of executives at 90 U.S. banks, credit unions, and fintech companies conducted in July 2026 found that scams accounted for 22.4% of fraud amounts, up from 12% in 2025; scams and account takeovers together accounted for 50.6%, compared with 27.6% two years earlier.
AI-written from reports · updated 4 days ago
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- PYMNTSPYMNTS report: Scams account for 22.4% of fraud amount, banks adjust defense strategies
A PYMNTS Intelligence survey of executives at 90 U.S. banks, credit unions and FinTechs conducted in July 2026 found that scams accounted for 22.4% of fraud amount, up from 12% in 2025; scams and account takeover combined accounted for 50.6%, compared with 27.6% two years earlier.
- PYMNTSPYMNTS Intelligence: Neobanks’ spending on fraud protection grew 357%, with average losses reaching $2.84 million
The PYMNTS Intelligence report shows that neobanks, digital banks and FinTechs increased spending on fraud protection by 357% year over year, from $1.8 million to $8 million per institution, while average fraud losses also rose from $800,000 to $2.84 million.
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