AI-powered fraud & scams drives banks to accelerate adoption of Refine’s automated customer outreach platform, contributing to 364% ARR growth in past year.
–Refine Intelligence reported 364% annual recurring revenue (ARR) growth and a 4.5x increase in bank customers over the past 12 months.
-Banks are adopting Refine’s automated outreach and fraud alert resolution platform to replace manual reviews and phone-based investigations.
Banks are ready to ditch phone calls as the primary fraud-related outreach, and replace slow, manual alert reviews with automated Fraud Resolution.”
— Uri Rivner, CEO and Co-Founder of Refine Intelligence
-A top 50 U.S. bank now resolves 87.5% of fraud alerts automatically using Refine’s platform.
-The growth reflects increasing demand for scalable fraud resolution as AI-powered bank impersonation attacks, check fraud, and scams continue to rise.
Refine Intelligence, a fraud resolution platform for banks, today announced its strongest quarter in company history, driven by accelerating demand from financial institutions seeking to automate alert resolution. Over the past 12 months, annual recurring revenue (ARR) surged 364% and the number of banks using Refine’s platform increased 4.5x. The growth reflects a broader industry shift as financial institutions respond to the rapid rise of AI-powered bank impersonation attacks, check fraud, and scams.
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“Banks are ready to ditch phone calls as the primary fraud-related outreach, and replace slow, manual alert reviews with automated Fraud Resolution,” said Uri Rivner, CEO and Co-Founder of Refine Intelligence. “Our record growth shows that making bank customers an active partner in fighting fraud simply works.”
Q2 product milestone: Banks are stopping manual alert review
For the first time, a top 50 US bank stopped reviewing fraud alerts manually. Instead, it processed those alerts through Refine’s platform, resolving 87.5% of alerts automatically.
“Rather than engaging customers as the last resort, the bank made customer outreach the first step in the alert resolution workflow,” Rivner said. “Results show that customers have regained trust in bank communications and have become active participants in fighting advanced fraud.”
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