Escalating Bot Attacks Threaten FinTech and Bank Onboarding Security

Banks and FinTech companies once focused identity verification largely on account opening and login. Malicious bots are now targeting loan applications, transaction monitoring, KYC/KYB and fraud prevention. Beyond account takeovers, these attacks raise the costs of manual reviews and false rejections. PYMNTS Intelligence and Trulioo said verification gaps erode an average of 3.1% of companies’ annual revenue.

A PYMNTS survey of 350 global companies, released on March 31, 2026, found that 56.3% had encountered bot or agent threats and 58.6% struggled to address the associated fraud. In financial services, 60.6% reported increased traffic, with combined annual losses estimated at about $95 billion. A follow-up report on April 24 said more than 63% of surveyed companies had encountered such threats at high-value stages including lending.