HYPE, an Italian neobank, has partnered with Cleafy, a cybersecurity firm, to deploy Cleafy’s extended fraud detection and response (FxDR) platform.
The collaboration is intended to enhance HYPE’s ability to detect and manage financial fraud in real time, as digital threats become increasingly complex. According to data from the Italian banking union Fabi, online payment fraud in 2024 rose by nearly 30%, amounting to more than EUR 559 million in losses over the past three years. The Bank of Italy’s latest Report on fraudulent payment transactions also highlights that online card payments accounted for over 73% of fraudulent transaction value in the second half of 2024. The report shows that fraud involving digital transactions occurs at rates more than ten times higher than those linked to in-person payments.
Improving defences against evolving threats
Through the FxDR platform, HYPE gains access to a system that leverages artificial intelligence, behavioural analytics, and cybersecurity tools to automatically detect and mitigate potential fraud. This integrated approach reduces manual interventions and false positives, while increasing responsiveness to complex schemes such as peer-to-peer payment scams and money muling operations.
Representatives from HYPE said that the integration supports the bank’s commitment to maintaining strong digital security frameworks as its customer base grows. The official added that continuous investment in technology and user awareness remains a central part of the neobank’s strategy to safeguard accounts and manage risks more effectively.
Cleafy officials noted that the partnership reflects an industry-wide shift toward proactive threat management, with financial institutions moving beyond reactionary models to anticipate fraud in real time. Cleafy joins HYPE’s network of technology partners, through which the neobank integrates external solutions aimed at enhancing daily money management and digital safety.
