Hype and Cleafy Signed a Partnership for the Integration of Cleafy’s FxDR Platform for Fraud Prevention

HYPE, the 100% Italian neobank that has been reshaping banking since 2015 to promote an increasingly mature, informed and peaceful relationship with money, and Cleafy, a company specialised in the design and development of software solutions for the identification and prevention of financial fraud, have signed a partnership agreement to improve the efficiency of financial fraud management with a view to further enhancing security standards in the field of digital banking. 

According to data published by Fabi1 (Federazione Autonoma Bancari Italiani), in 2024 online payments frauds increased by 30% and, overall, in the last three years led to the theft of almost half a billion euros (€559.4 M). Numbers that, combined with the increasing sophistication of cyber scams and threats, prove how crucial scam prevention is to ensure the necessary security standards. 

The ‘Report on fraudulent payment transactions in Italy’2 published by the Banca di Italia shows that, in the second half of 2024, fraudulent transactions involving online card payments accounted for 73.5% of the value and 76% of the number of total fraud cases, despite the fact that most transactions are carried out by users at physical points of sale. The fraud rate for online transactions is therefore more than ten times that for ‘non-remote’ transactions (0.006% in value; 0.003% in number). 

A new way of managing risk 

Thanks to the Cleafy platform for extended fraud detection and response (FxDR), HYPE can benefit from a pioneering solution that integrates AI based fraud prevention and cybersecurity features into a single, simplified system, minimising manual interactions and increasing real-time threat detection capability. 

Effectively, this guarantees fewer false positives and more efficient threat management, allowing customers to switch from manual to automatic management of individual cases. Thanks to Cleafy’s new platform, HYPE, is in fact now able to react automatically to all the most advanced cyber fraud techniques, such as money muling schemes, P2P payment fraud, and AI-generated scams.

Alessio Zambonin, CIO of HYPE, commented: “Our customer base continues to grow at a significant rate, and offering them a service that guarantees high standards, both in terms of quality and security, is a priority for us. That’s why we constantly invest in innovation and technology and work to enhance our cyber threat monitoring platforms and keep pace with an ever-changing landscape. At the same time, we continuously educate and raise awareness among our users on the topic of security, with the aim of creating awareness and helping to maintain a high level of attention. ‘Cleafy’s platform allows us to detect threats in real time, respond proactively and neutralise them, keeping our customers safe and supporting our growth strategy”. 

Matteo Bogana, CEO of Cleafy, added: “Digital banking is evolving rapidly, as are the threats associated with it. HYPE’s decision to adopt Cleafy’s unified platform demonstrates a desire not only to react to fraud, but to proactively prevent it. Thanks to real-time monitoring with intelligent threat detection, HYPE continues to provide its customers with banking solutions offering the highest level of security available today”.  

Cleafy is joining HYPE’s network of partners, through which the neobank aims to integrate the most innovative solutions to offer a tool that allows people to manage their money on a daily basis in a simple and intuitive way, while ensuring the highest security standards.