Neovera Enhances Fraud Defense Capabilities with Greenway Solutions Acquisition

In a strategic move to address the escalating challenge of fraud, Neovera has acquired Greenway Solutions, a leader in adversarial fraud testing. This acquisition equips Neovera with live-control testing capabilities, enabling a more proactive approach to identifying and mitigating fraud in real production environments. The timing is critical, as fraud losses in the United States have surged, with a 25% increase reported by the FTC in 2024, totaling $12.5 billion in consumer losses.

The integration of Greenway Solutions' Fraud Red Team methodology into Neovera's portfolio represents a significant advancement in fraud defense strategies. By simulating actual fraud attacks across various banking channels, the team provides invaluable insights into the effectiveness of current controls and identifies areas for improvement. This hands-on approach goes beyond traditional paper-based reviews, offering a realistic assessment of how defenses perform under attack.

Scott Weinberg, CEO of Neovera, highlighted the importance of this acquisition, noting Greenway Solutions' reputation as the gold standard in fraud control red teaming. The partnership not only enhances Neovera's ability to deliver comprehensive, threat-informed security solutions but also reflects a growing trend towards the convergence of cybersecurity and fraud prevention efforts. As attackers exploit both technical and behavioral vulnerabilities, the need for unified defense mechanisms becomes increasingly apparent.

The acquisition is part of Neovera's broader expansion strategy, following previous acquisitions aimed at strengthening its compliance and security operations center (SOC) capabilities. By combining forces with Greenway Solutions, Neovera is poised to offer tailored cybersecurity and fraud mitigation solutions to a wider range of industries, including financial institutions, fintechs, and healthcare providers. This collaboration underscores the critical importance of adopting a proactive and integrated approach to security in the face of evolving threats.