Neovera Enhances Fraud Defense Capabilities with Greenway Solutions Acquisition

The acquisition of Greenway Solutions by Neovera represents a strategic move to address the escalating challenge of fraud across multiple industries. With fraud losses in the United States reaching $12.5 billion in 2024, a 25% increase from the previous year, the need for advanced and realistic fraud defense mechanisms has never been more critical. This acquisition enables Neovera to incorporate Greenway Solutions' pioneering Fraud Red Team methodology, which simulates real-world fraud attacks in live environments, into its comprehensive cybersecurity and cloud services portfolio.

Greenway Solutions, renowned for its adversarial fraud testing, brings to Neovera the capability to conduct live, controlled exercises that test fraud defenses using actual accounts and transactions. This method provides invaluable insights into the effectiveness of existing fraud controls across various channels, including online and mobile platforms, and call centers. By identifying vulnerabilities in real-time, organizations can significantly enhance their fraud mitigation strategies.

The integration of Greenway Solutions' expertise into Neovera's offerings is particularly timely, given the FBI's report of a 33% increase in fraud-related losses. This collaboration not only strengthens Neovera's position as a leader in cybersecurity and fraud prevention but also underscores the growing convergence of cybersecurity and fraud prevention functions. As attackers increasingly exploit both technical and behavioral vulnerabilities, the demand for unified defense strategies that address both cyber and fraud risks is on the rise.

Neovera's acquisition strategy, including the recent additions of 10-D Security, AppliedCS, and Emagined Security, reflects its commitment to providing comprehensive, threat-informed security solutions. The partnership with Greenway Solutions is poised to extend the reach and impact of their combined fraud testing methodologies, offering financial institutions, fintechs, healthcare providers, and other regulated entities a robust defense against the evolving threat landscape.

This development is a clear indication of the industry's shift towards more integrated and proactive approaches to security and fraud prevention. By leveraging real-world testing and threat-informed strategies, Neovera and Greenway Solutions are setting a new standard in the fight against fraud, ensuring that organizations can better protect themselves and their customers from the financial and reputational damages associated with fraudulent activities.