Neovera, the trusted advisor that provides full cybersecurity and cloud services to enterprises, announced its acquisition of Greenway Solutions, the leading firm in adversarial fraud testing. The acquisition adds live-control testing capabilities to Neovera’s portfolio, enabling banks, fintechs, healthcare providers, and other fraud-sensitive sectors to proactively test fraud defenses using real-world tactics in real production environments.
This move comes amid a sharp rise in fraud losses across the United States. Consumers reported losing $12.5 billion in 2024—a 25% increase year-over-year—according to the FTC. FBI data shows a 33% rise in fraud-related losses in the same period, underscoring the need for proactive and realistic defense testing.
“Greenway Solutions literally wrote the book on fraud control red teaming,” said Scott Weinberg, CEO and founder of Neovera. “Their approach sets the gold standard in adversarial fraud testing. Bringing that capability into Neovera significantly enhances our ability to deliver integrated, threat-informed security solutions to our clients.”
Founded in 2004 and based in Charlotte, North Carolina, Greenway Solutions specializes in simulating how real fraud attacks unfold across banking channels. Its Fraud Red Team conducts live, controlled exercises—using real accounts and transactions—to expose how fraud controls behave under actual attack conditions. These tests span online and mobile platforms, call centers, and other points of vulnerability, offering clear insights into where controls fail and how to strengthen them.
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“This isn’t theoretical. We move real money and actively challenge controls,” said Jerry Tylman, Partner at Greenway. “We go far beyond paper-based fraud reviews to test how defenses operate in production—and how they are coordinated across channels and compare to peer institutions.”
The acquisition complements Neovera’s existing capabilities in managed security services, penetration testing, vulnerability management, identity and access management, and compliance advisory. Together, the companies will deliver tailored cybersecurity and fraud mitigation solutions to financial institutions, fintechs, healthcare providers, and other regulated organizations.
“Joining Neovera allows us to expand the reach of our fraud testing methodology and deepen our impact,” said Patrick Shaw, Partner at Greenway. “We share a commitment to helping clients protect against high-impact, evolving threats—and this combination strengthens that mission.”
The deal continues Neovera’s expansion strategy. In 2023, the company acquired 10-D Security and AppliedCS to bolster financial sector compliance offerings, followed by its 2024 acquisition of Emagined Security to strengthen SOC capabilities and broaden services across regulated industries.
The Greenway acquisition also reflects a broader market shift: the convergence of cybersecurity and fraud prevention functions. As attackers increasingly exploit both technical and behavioral gaps, organizations require unified defenses. The Neovera–Greenway partnership delivers precisely that—real-world, threat-informed protection that spans cyber and fraud risk.
Source: BusinessWire