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NEW YORK, November 2, 2022 -- Alloy, the leading Identity Decisioning Platform and transaction monitoring solution for banks and fintech companies, today announced its partnership with Fiat Republic, the fiat-as-a-service platform democratizing access to banking infrastructure for crypto platforms. Over 300 companies use Alloy’s API-based platform to connect to more than 160 data sources, automate identity decisions during account origination, and monitor them on an ongoing basis. Alloy has helped some of the most innovative banks and fastest growing fintech companies grow and scale operations by allowing them to find more good customers and bring them into their products without increasing their fraud risk. Alloy believes crypto platforms should take a risk-forward approach to risk and compliance, building crypto products with consumer safety and security in mind. With a strong focus on fraud, Alloy empowers crypto companies to future-proof against shifting regulations and an increasingly complex legal landscape. While traditional financial products solve risk with friction, crypto platforms can forge a new path with financial products like Alloy, designed for transparency and efficiency, enabling safe onboarding for the next billion Web3 users. Fiat Republic, a Web2.5™ company, was born to serve crypto native platforms, which, up until now, have had access to sub-par, slow, and expensive fiat rails (or no access at all). Fiat Republic believes that fiat access will play a vital role in unlocking crypto to the masses. It’s essential to level up and harmonize compliance standards for crypto platforms to unlock access to tier 1 banks. This is critical to delivering better, more efficient, and sustainable fiat rails. With Alloy, Fiat Republic’s customers can automate compliance measures, transaction monitoring, and identity decisioning for their end users, ultimately unlocking better and faster fiat rails for crypto with reduced risk. Fiat Republic has built a fiat-as-a-service platform that aggregates multiple banks across jurisdictions, including the UK, Europe, and the U.S, all via a single API. With a strong focus on integrating into local payment schemes, Fiat Republic empowers crypto platforms to benefit from faster and cheaper payment rails for their users to deposit and withdraw funds. With a compliance-first data architecture, its process delivers end-to-end visibility of money flows and radically simplifies payment operations. “In today’s regulatory environment, it can be challenging for fintech companies to make the jump to crypto without fully understanding how to avoid regulatory repercussions,” said Charley Ma, General Manager of Fintech at Alloy. “Fiat Republic shares our mission to make digital finance accessible for everyone, and we look forward to strengthening their cohesive community with identity decisioning that enables crypto platforms to grow in a compliance manner without fear of fraud.” “Crypto platforms desperately need access to reliable banking rails, however they face a number of obstacles. Our vision is to transform fiat access for Web3, delivering a single fiat API that aggregates banks, and provides sustainable access to local payment rails. The opportunity to partner with Alloy, who shares this DNA as a fellow aggregator, was one we’re really excited about,” said Adam Bialy, Founder and CEO at Fiat Republic. “We’re absolutely delighted to power Alloy’s crypto customers with access to better banking for their treasury and end-user needs.” To learn more about Alloy, visit https://www.alloy.com About Alloy Alloy helps over 300 banks and fintech companies make safe and seamless fraud, credit, and compliance decisions. Founded in 2015 and backed by leading investors from Lightspeed Venture Partners, Bessemer Venture Partners, and Canapi Ventures, Alloy’s platform connects companies to more than 160 data sources of KYC/KYB, AML, credit, and compliance data through a single API to help create a future without fraud. Learn more at https://www.alloy.com About Fiat Republic Fiat Republic is an EMI-regulated, Fiat-as-a-Service platform that aggregates local fiat rails for crypto platforms via a single API. Fiat Republic enables crypto platforms to easily embed fiat payments into their platform to deliver frictionless pay-in and pay-outs for their users. Fiat Republic built a brand new category, Web2.5; the bridge between Web2 and Web3, which provides the connectivity tissue between banks and crypto platforms needed to accelerate global crypto adoption. Learn more at https://fiatrepublic.com/.
NEW YORK, September 1, 2022 -- Alloy, the leading Identity Decisioning Platform for banks and fintech companies, announced that it raised an additional $52 million led by Lightspeed Venture Partners and Avenir Growth with participation from existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures, bringing the company's valuation to $1.55 billion. The funding will help the company as it accelerates its growth to address the global demand for fraud prevention tools.Alloy enables clients to pull in customer information, traditional credit bureau data, and other alternative data through a single point of integration, providing a complete picture of their customer. Earlier this month, the company announced its global expansion into 40 countries across North America, EMEA, LATAM, and APAC.“We feel incredibly lucky to have partners that not only understand the impact of our investments into our platform and in expanding globally but also proactively come to the table to support them,” said Tommy Nicholas, co-founder and CEO of Alloy. “With this newest investment we’ll be able to accelerate our growth and better address the global fraud challenges that companies are facing.”Founded in 2015, Alloy has grown to meet the rising demand for identity tools that help companies fight fraud and stay compliant while onboarding new customers in the US and abroad. Over 300 companies use Alloy’s API-based platform to connect to more than 160 data sources, automate identity decisions during account origination, and monitor them on an ongoing basis. Alloy has helped some of the most innovative banks and fastest growing fintech companies grow and scale operations by allowing them to find more good customers and bring them into their products without increasing their risk of fraud.“With fraud rates on the rise, Alloy plays a critical role in the financial ecosystem by bringing their expertise and platform to both emerging fintech companies and established banks,” said Justin Overdorff, Partner at Lightspeed Venture Partners. “Fraud is inevitable and one of the biggest risks for new financial technology; leveraging Alloy's infrastructure gives companies a leg up fighting fraud by giving a unique holistic view of each customer from the day they onboard and throughout their entire life cycle as a customer.”Over the past 12 months, Alloy has seen revenue more than double. The company currently serves banking and fintech companies including Ally Bank, HMBradley, Gemini, and Ramp, processing over a million decisions daily.“What makes Alloy unique is that the company hasn’t just built a powerful platform; its team consistently delivers expert guidance to help companies, big and small, navigate risk as well as regulatory requirements,” said Andrew Sugrue, Managing Partner at Avenir.To learn more about Alloy, visit https://www.alloy.comAbout AlloyAlloy helps over 300 banks and fintech companies make safe and seamless fraud, credit, and compliance decisions. Founded in 2015 and backed by leading investors from Lightspeed Venture Partners, Bessemer Venture Partners, and Canapi Ventures, Alloy’s platform connects companies to more than 160 data sources of KYC/KYB, AML, credit, and compliance data through a single API to help create a future without fraud. Learn more at https://www.alloy.com
NEW YORK, August 3, 2022 -- Alloy, the leading Identity Decisioning Platform for banks and fintech companies, announced its global expansion. Today, Alloy’s platform for fraud and risk decisions is available in 40 countries across North America, EMEA, LATAM, and APAC. Alloy already has an established presence in EMEA, led by Edwina Johnson, and will continue to grow its global presence over the coming months. Over 300 companies use Alloy’s API-based platform to connect to more than 150 data sources and automate identity decisions during account origination and monitor them on an ongoing basis. Over the past seven years, Alloy has helped some of the most innovative banks and fastest growing fintech companies grow and scale operations by allowing them to find more good customers and bring them into their products without increasing the risk of fraud. "Alloy was a clear choice to bring together our multiple API's and processes as we scale globally,” said Paul Becker, founder and CEO, Art Money. “Operating in the US, UK, Australia, and New Zealand with more to come, we wanted a global tech partner who could grow with us as we unify our onboarding, underwriting, and compliance processes into one flexible, comprehensive, no-code platform." “We've identified a clear need in the global market for Alloy, particularly with the recent rise in fraud, fines for poor implementation of regulatory requirements, and the growth of embedded finance", said Edwina Johnson, head of Global at Alloy. "We're excited to bring Alloy's unique platform, and team, to companies operating worldwide.” Now live in 40 countries with document verification support for 195 countries, Alloy enables clients to pull in customer information, traditional credit bureau data, and other alternative data through a single point of integration, providing a more complete picture of their customer. With nearly 40 data sources currently supporting global coverage, long-standing data partners like ComplyAdvantage, Onfido, Experian, and GB Group companies play a key role in delivering best-in-class fraud solutions on a global scale. Alloy has launched new partnerships with global data providers, including: CodatFullCirclGlobal Data Consortium Nova CreditProveSiftTruliooVeriff“In our borderless world, the ability to offer robust data sets that span the globe has never been more imperative. As proponents of a global-first approach, we are keen on collaborating with Alloy to ensure our customers around the world can navigate the complexities of KYC, KYB and Watchlist requirements to onboard entities with ease," said Garient Evans, SVP, Identity Solutions at Trulioo. To learn more about Alloy, visit https://www.alloy.com About Alloy Alloy helps over 300 banks and fintech companies make safe and seamless fraud, credit, and compliance decisions. Founded in 2015 and backed by leading investors from Lightspeed Venture Partners, Bessemer, and Canapi Ventures, Alloy’s platform connects companies to more than 150 data sources of KYC/KYB, AML, credit, and compliance data through a single API to help create a future without fraud. Learn more at https://www.alloy.com
NEW YORK, March 22, 2022 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced its partnership with Prove, a leading phone-centric digital identity provider, to enable financial institutions to verify and authenticate their customers. Alloy's identity decisioning platform brings the many pieces of digital identity into a centralized platform, working across more than 120 data sources to enable banks and fintech companies to make better risk decisions by seeing beyond an address or social security number. Through Alloy's various partners and the data they provide, the company’s best-in-class KYC and fraud detection capabilities enable clients to verify identities, prevent fraud, monitor transactions and power credit underwriting. By integrating with Prove and adding its phone-centric identity solutions, Alloy’s clients will be able to enhance their new customer onboarding and existing client engagement in a frictionless, fast and secure way. With Prove's Pre-FillTM onboarding solution, clients can expedite customer account openings while also mitigating account opening fraud. The Pre-Fill solution auto-fills online applications with verified consumer information from authoritative sources, ultimately improving the customer experience by saving time while simultaneously reducing risk and fraud. The integration will also enable clients to verify individuals using Prove's IdentityTM solution (with optional KYC included) separately if needed. “Today’s financial services customers value security and customer experience equally, and they are rightfully unwilling to sacrifice one for the other,” said Tim Brown, Head of Product, Prove. “Prove is developing and innovating our solutions to accelerate onboarding and enhance security while delivering on compliance and ultimately, preventing fraud. We're thrilled to partner with Alloy to implement phone-centric identity tools because together we're providing our clients with easier onboarding solutions that will in turn create an overall better experience for their end customers.” Alloy clients or prospects that already depend on Prove for onboarding and identity needs can now incorporate the Prove solutions into their current Alloy environment, and will be able to leverage white-labeled UX for Prove’s Pre-FillTM Solution and Mobile AuthTM API in the near future. "We are excited about our new partnership with Prove," said Brian Bender, VP of Strategic Alliances at Alloy. "It is our goal to help our clients continuously improve and secure their customer's onboarding experience. We do this through integrating best-in-class data sources that improve those workflows. Prove's KYC and AML checks and Pre-Fill solutions exemplify that." As the command center for all-things identity, Alloy’s mission is to help financial companies deploy safe and seamless digital experiences. Alloy is committed to eliminating manual processes and making life easier for clients while providing a holistic picture of a person’s digital identity. The partnership with Prove is a natural extension of this mission, as both companies are equally as passionate about creating the best customer experience possible. To learn more about Alloy and Prove, visit www.alloy.com and www.prove.com. About Alloy Alloy is the command center for identity that covers your compliance and fraud-fighting needs. Our identity decisioning platform connects you to more than 120 data sources to help you verify identities, monitor transactions and make credit decisions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies like Ally Bank, Aspiration and Brex take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy. About Prove Identity, Inc. (Prove) As the world moves to a mobile-first economy, businesses need to modernize how they acquire, engage with and enable consumers. Prove’s phone-centric identity tokenization and passive cryptographic authentication solutions reduce friction, enhance security and privacy across all digital channels, and accelerate revenues while reducing operating expenses and fraud losses. Over 1,000 enterprise customers use Prove’s platform to process 20 billion customer requests annually across industries including banking, lending, healthcare, gaming, crypto, e-commerce, marketplaces and payments. For the latest updates from Prove, follow us on LinkedIn. Media contact:N6A on behalf of [email protected]
NEW YORK, Dec. 9, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced the debut of its Partner Center, a new dedicated resource for clients to gain more transparency into its partner integrations. Through the Partner Center, Alloy brings the best technology and data providers into full view for it's current and prospective clients, allowing them to make informed decisions on the connections they need. Alloy's API-based platform pulls the many variables that encompass digital identity from 120+ different data source products into one centralized location, helping banks and fintech companies reduce friction between them and their customers by seeing beyond their address and social security number. Alloy's best-in-class KYC and fraud detection capabilities are powered by these partners and the data they provide, which in turn enables its clients to verify identities, prevent fraud, monitor transactions and power credit underwriting. With the Partner Center, clients and prospects will have more transparency intot how these technology and data partnerships work so they can easily select the integrations that are right for their workflows, creating a seamless customer experience "Socure has been a very happy and strategic partner of Alloy's since day one. We are thrilled to be able to showcase the breadth of Socure's identity, fraud and AML solutions that are fully integrated within Alloy's Partner Center." Johnny Ayers, founder and CEO of Socure. Both early collaborators and new partners will be featured in the Partner Center, including: AcuantBerbixChexSystemsCognitoComplyAdvantageEkata, Inc., a Mastercard companyEquifaxExperianIDologyInscribeLexisNexis® Risk SolutionsMANTLMiddeskNarmiNeuro-IDOcrolusOnfidoSentiLinkSilaSocure, Inc.SumsubTelesignTransUnionTreasury PrimeVouched"Our partners are a central part of Alloy's value offering," said Tommy Nicholas, CEO at Alloy. "We provide our clients with easier access to data points across a variety of vendors and data sources, pulling them together into a single workflow. This is increasingly important as the threats and opportunities in digital identity become more nuanced and digital. We are hoping that the Partner Center will start the conversation with our clients earlier about all the power tools that exist, moving beyond the basic KYC information, to transform the customer experience and increase automated decisioning." Alloy's platform lets banks and fintechs add new data sources and make changes to workflows all from a simple user interface with no coding required, allowing engineering teams to focus on more valuable work. With Partner Center, customers will have greater insight into which data sources will provide the most value for them, making the process even more seamless. To learn more about Alloy, visit www.alloy.com About AlloyAlloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 120 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.
NEW YORK, November 17, 2021-- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced Daylight, the first LGBTQ+ digital banking platform in the United States, will be leveraging Alloy to automate the identity verification process during customer onboarding and monitor transactions throughout the customer lifecycle. Alloy's API-based platform brings the many pieces of digital identity into a centralized platform, working across more than 120 data sources to enable clients like Daylight to make better risk decisions. After a customer opens an account with Daylight, Alloy’s Transaction Monitoring continuously reviews their financial activity and flags risky behaviors. “The approach Alloy has taken to identity verification and monitoring was appealing because it enables us to see a customer as more than just one or two limited factors, like a license or phone number,” said Daylight co-founder and COO Billie Simmons. “Daylight currently has a waitlist of over 100,000 customers, so having the ability to act quickly and efficiently during onboarding will empower us to provide our clients with the services that have been missing from this industry.” Increasing access to basic and equitable financial services is a mission shared by both Alloy and Daylight. There’s a deep divide for LGBTQ+ community that Daylight is seeking to bridge through its approach to banking. More than 30 million Americans identify as LGBTQ+ and have been historically underserved by traditional financial services firms. Whether it’s discriminatory loan practices, complications with deadnaming or the resulting biases generated by algorithms, there has been a lack of technology available to service the unique challenges faced by this community. “We are excited to be part of Daylight’s mission to better serve the LGBTQ+ community,” said Laura Spiekerman, CRO and co-founder of Alloy. “Access to financial services should be a right, not a luxury. With a more holistic onboarding process leveraging 120+ data source products, we can create a seamless experience for Daylight customers while also reducing the company’s overall exposure to fraud.” Alloy is helping create a future in which banking is accessible for all. Its platform helps traditionally underserved financial institutions, like small credit unions, local banks and fintech firms, expand their digital product offerings to better serve their communities. Alloy’s technology also helps financial institutions remove some of the bias in decision making by providing easy access to alternative data sources to help verify applicants who might not have traditional identification, such as a driver's license. To learn more about Alloy and Daylight, visit www.alloy.com and www.joindaylight.com. About Alloy Alloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 120 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy. About Daylight Founded in 2020, Daylight is the first and only digital banking platform in the U.S. specifically designed for and by the LGBT+ community. Daylight’s card, app and digital services prepare members for the future faster by helping them to navigate the finance system, generate smarter habits and connect with a community working together to build the life they deserve without compromise. Daylight is backed by financial and payment industry icons Visa and Marqeta. The company was founded by Rob Curtis, Billie Simmons and Paul Barnes-Hoggett. To learn more, visit joindaylight.com. Media contact:Kayla PerkinsN6A on behalf of [email protected]
NEW YORK, October 20, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced the expansion of its Identity Decisioning Platform to include credit underwriting decisioning capabilities. Working in tandem with its Onboarding and Transaction Monitoring products to create a 360-degree view of each customer, Alloy Credit Underwriting enables financial institutions to make faster, smarter credit decisions. Alloy clients can use detailed identity data gathered during onboarding in combination with credit bureau data and alternative underwriting data to offer credit products to more people with less risk. Credit underwriting has historically been a siloed process, creating challenges for banks and fintech companies to provide products in a fair, unbiased way. Good applicants are often rejected because of a lack of data and subsequently, manual reviews worsen the customer experience leading to drop off. Since the credit score was introduced in 1989, there has been a lack of innovation in the way that credit limits are determined. “It can be complex and challenging to get started with a new credit product, but Alloy made it easy by allowing us to translate complex policies into workflows for underwriting and risk functions,” said Andrei Cherny, CEO and co-founder of Aspiration. “As a result, we see automated credit decisions with a seamless application process, while still allowing easy drill downs into decisioning and optimizing the funnel further.” Alloy supports access to a broad range of external and proprietary data sources so that banks and fintech companies can optimize their credit underwriting decisions. For example, if applicants have thin credit files, their credit score may not qualify them for a credit offering; however, looking at cash flow data might paint a clearer picture of their creditworthiness. Alloy’s API allows financial institutions to pull in their customer information, credit bureau data and other alternative underwriting data (such as cash flow data) through a single point of integration, providing a more detailed picture of the applicant. Clients can then transform their credit policies into configurable, flexible workflows, resulting in a more effective way to visualize and review an entire credit origination application for each customer, enabling smarter risk decisions. “The launch of Credit Underwriting really showcases the strength of Alloy’s platform; combining the data gathered throughout the customer journey into one central location, creating a unique identity profile that can be used to offer customers a personalized experience and makes processes like underwriting less risky,” said Tommy Nicholas, CEO and co-founder of Alloy. “We’re just getting started in fulfilling our mission of helping financial companies deploy safe and seamless digital customer experiences.” The new product expansion comes on the heels of significant growth for Alloy, recently raising a Series C funding round of $100M led by Lightspeed Venture Partners. The launch of Credit Underwriting is the next step to making a fintech company as easy to build as an ecommerce product - because risk is not something businesses should have to figure out, but rather something they should be able to install. What originally began as a platform used to automate onboarding decisions has evolved to include new transaction monitoring capabilities, now processing more than 370,000 transactions daily for clients like Petal, HMBradley and Ramp. Credit Underwriting is a natural extension of Alloy’s technology as the company strives to become the command center for all things identity. For more information, visit https://www.alloy.com/credit-underwriting. About Alloy Alloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 120 data source products to help you verify identities, monitor transactions and make credit decisions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.
NEW YORK, September 30, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced it has raised $100 million in Series C funding. Lightspeed Venture Partners’ Justin Overdorff led the round with participation from existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures, bringing the company’s valuation to $1.35 billion and the total amount raised to over $150 million.The new round of financing will be used primarily to further expand Alloy’s product offerings to help fintech companies and banks combat fraud by building out a continuously evolving identity profile throughout a customer’s lifecycle. Over the last year, what began as a platform used to automate onboarding identity decisions has grown to also include transaction monitoring. With this extended capability, Alloy’s API-based platform has started on the journey to creating customer identity profiles that can be used to prevent fraud and minimize risk; future product expansions will incorporate richer data and risk signals to give financial institutions a full, 360-degree picture of their customers.“We want to make building a fintech product as easy as building an ecommerce product, and we’re thrilled to have Lightspeed on board to help us do that,” said co-founder and CEO Tommy Nicholas. “Identity and its associated risk isn’t something businesses should be figuring out, it should just be something they install. As Alloy grows into a multi-product platform for the full customer identity lifecycle, we can not only help make risk easier to understand, but also further industry innovation by making fintech products easier to build.”Improving the developer experience is a significant priority for the Alloy team, especially when it comes to bringing new products to market. By having risk and identity all in one, easy-to-use place, it will enable developer and product teams to use these tools to their full potential. Alloy's platform brings the many pieces of digital identity into a centralized platform, working across more than 85 data sources to enable customers to make better decisions and take a closer look at the full picture of their customers."We're thrilled to put our support behind the Alloy team as their product and mission fits squarely within our thesis that the proliferation of fintech, financial services, and embedded fintech companies is driving increasing demand for tools like Alloy," said Justin Overdorff, Partner at Lightspeed Venture Partners. "Alloy takes the risk off their client’s plate while maintaining operational efficiency throughout the customer lifecycle, making Alloy a crucial piece of the fintech infrastructure stack.” The funds will also be used for investments into the Alloy team, expanding all functions of the business to increase output and specialization in a complex industry. In less than a year, Alloy has seen revenue more than triple and headcount increase by 140%. The company currently services over 200 clients including Ally Bank, HMBradley, Gemini, and Ramp.When asked why they decided to use Alloy in a recent case study, Jacob Wallenberg, Risk Operations at Ramp said “If you were only worried about risk, you wouldn’t be giving anyone a card. So the question becomes, what return do we get for the additional risk? Alloy automates part of our underwriting process so our Risk Operations team can spend their time figuring out this tradeoff between risk and return.”To learn more about Alloy, visit Alloy.com.About AlloyAlloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 85 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.About Lightspeed Venture PartnersLightspeed is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, and Health sectors. Since 2000, Lightspeed has backed entrepreneurs and helped build companies of tomorrow, including Snap, Affirm, AppDynamics, OYO, Nutanix, Byju's, and Udaan. Lightspeed and its affiliates currently manage more than $10 Billion across the global Lightspeed platform, with investment professionals and advisors in India, Silicon Valley, Israel, China, Southeast Asia and Europe.
NEW YORK, Aug. 31, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced Amerant Bank, N.A., one of the largest community banks headquartered in Florida, will be leveraging its technology to automate the identity verification process when onboarding customers. Through Alloy's platform, Amerant Bank will facilitate the onboarding process for deposit accounts from both businesses and individuals, ensuring the proper protocol is in place to capture and review customer data to reduce exposure to non-compliant account openings. In addition to implementing Alloy's API service for its online operations, Amerant Bank will be among the first to use the technology within branches — allowing team members to access Alloy's holistic dashboard to onboard customers in-person. Headquartered in Coral Gables, Florida, Amerant Bank manages almost $8 billion in assets spanning 25 branch locations in Florida and Texas. Amerant Bank was looking to find a partner to further its mission in providing a superior customer experience, while ensuring it can make smart and safe identity and risk decisions that help improve its bottom line. Alloy will make it easy for Amerant Bank to quickly and safely onboard more customers and automate the vast majority of risk decisions, providing a seamless customer experience and reducing the burden of manual reviews for employees in return. "Providing an exceptional experience for customers, both online and in-person, is at the core of our digital transformation strategy," said Jerry Plush, vice chairman and CEO of Amerant Bank. "With the addition of Alloy, we'll be able to still meet regulatory requirements, while ensuring a faster and more seamless onboarding and underwriting process that will benefit both customers and Amerant team members." Integrating Alloy's single API with onboarding processes provides Amerant Bank access to more than 85 data source products to create an automated KYC/AML process built to scale with demand. Alloy's platform will integrate Amerant's selected data sources to verify an applicant's identity at the beginning of the onboarding process, both online and in-branch. "By streamlining a traditionally manual onboarding process, we can create a frictionless experience for applicants while reducing exposure to fraud," said Tommy Nicholas, CEO and co-founder of Alloy. "We are thrilled to be a part of Amerant Bank's mission of developing strong community relationships and adapting customers' needs in a dynamic and positive way." To learn more about Alloy, visit www.alloy.com. About AlloyAlloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 85 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy. About Amerant BankAmerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its subsidiaries, Amerant Bank, N.A. (the "Bank"), Amerant Investments, Inc., Elant Bank and Trust Ltd., and Amerant Mortgage, LLC. The Company provides individuals and businesses in the U.S., as well as select international clients, with deposit, credit, and wealth management services. The Bank, which has operated for over 40 years, is the second largest community bank headquartered in Florida. The Bank operates 25 banking centers – 18 in South Florida and 7 in the Houston, Texas area. For more information, visit AmerantBank.com, Investor.AmerantBank.com, and follow Amerant on Facebook, Twitter, Instagram and LinkedIn at @AmerantBank.
NEW YORK, June 15, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced the expansion of its platform to include transaction monitoring capabilities, as well as a full rebrand and new website. Now, in addition to the insights gained during account opening, Alloy's Transaction Monitoring gives financial institutions a clear, detailed picture of customer behaviors and risks throughout their entire lifecycle. Digital identity is constantly evolving. Because of that, fraud exists far beyond initial customer onboarding. To support these new challenges, Alloy's increased capabilities will help financial institutions combat fraud and money laundering from all angles. After a customer opens an account, Transaction Monitoring takes over to continuously review their financial activity, flagging risky behaviors for review - behaviors like excessive transactions in a given timeframe. With this extended capability, Alloy's API-based platform can help build a complete identity profile that encompasses the entire customer lifecycle. It is Alloy's mission to help banks and fintech companies use data to automate decisioning and combat fraud. Alloy's platform brings the many pieces of digital identity into a centralized platform, enabling customers to make better decisions and take a closer look at the full picture of their customers. "We've relied on Alloy to automate our onboarding workflow for years, and adding transaction monitoring was the obvious next step," said Jason Gross, co-founder and CEO of Petal. "Now, not only can we quickly verify our users' identities during account opening, but we also get a full picture of their ongoing risks and needs. Seeing that full customer profile gives us the insight we need to prevent fraud, meet compliance requirements, and most importantly support our customers." Coming out of beta, Alloy has already monitored more than 70 million transactions. Current customers, including Petal and HMBradley, have already added Transaction Monitoring into their platforms. In addition to offering a holistic view of customer risk through evolving profiles, key benefits include flexible transaction monitoring, where firms can gain visibility into customer transactions with batch or real-time API monitoring. Transaction Monitoring also allows them to create custom rules and workflows – flagging high-risk events and transactions that can be configured without the use of coding. "Transaction Monitoring is a natural extension of our technology; we want to be the command center for all things identity," said Tommy Nicholas, CEO and co-founder of Alloy. "Not only can we eliminate manual processes and make life easier for our clients, but painting a true, holistic picture of a person's digital identity ultimately creates a much more seamless experience with less noise and disruption for their end customers as well." As the product and company have matured, Alloy's brand platform is growing too, starting with the launch of a completely redesigned website featuring unifying messaging, as well as a new logo and colors. The rebrand focuses on helping our clients "know the unknown" by introducing multiple perspectives. The new visual brand incorporates an unexpected color palette with a geometric design system that gives a retro nod to the past and a minimalistic and clean layout that modernizes the design - similar to Alloy's approach to modernizing identity decisioning in a legacy financial services industry. "This new brand properly expresses the potential of Alloy to people considering using our product or joining our team," said Charles Hearn, co-founder and CTO. "When we were making the original Alloy identity six years ago, we were a small team with a focused vision. Today, we are a diverse company of over 100 people working on a much more ambitious mission, and we needed to create a more flexible and comprehensive brand identity to communicate all of that." For more information, visit www.Alloy.com. About AlloyAlloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 85 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.
NEW YORK, June 1, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced three key appointments to its growing leadership team. Kiran Hebbar joins as Chief Financial Officer (CFO), where he will be responsible for leading the finance functions and helping to scale the business. Alloy has also tapped Joel Raha as VP of Engineering to help drive research and development efforts, and Natalie Seidman as VP of Enterprise Sales to lead business development into larger enterprise markets. Prior to joining Alloy, Hebbar served as CFO at mParticle for over three years. He has a proven track record of scaling high growth software companies as CFO/COO, combined with a decade of venture investing experience as a general partner at venture capital firm Valhalla Partners where he invested in B2B SaaS companies. He started his career in software development and product management roles at high growth software companies. Hebbar's unique skill set spanning strategy, finance, product, engineering and growth enables him to translate a company's vision into financially savvy operating plans with the goal of increasing enterprise value. "Beyond the value Alloy's technology is already providing to banks and fintech companies, the team has an incredible growth vision and the potential is really limitless," said Hebbar. "It's clear that the company is paving the way for the future of this sector and I'm thrilled to be along for the ride. I look forward to bringing my expertise into the equation to accelerate the momentum." With nearly two decades of experience in software development and engineering, Joel Raha joins Alloy to deliver technology solutions and product development that will fuel product and market expansion. Most recently, he served as Senior VP of Engineering at 7Park Data where he scaled engineering and developed a data transformation platform enabling engineers, data scientists, and research analysts to transform raw data into actionable insights for professional investors. Raha graduated from Cornell with a Bachelor of Science in Computer Engineering and received a Masters of Technology Management at Columbia University. Natalie Seidman brings over 20 years of enterprise sales management experience to her new role. She was previously the VP of Sales, Americas at e-commerce fraud detection company Riskified, where she worked with top online merchants in the US, Canada and LATAM. Seidman has a strong background in data and analytics and is an expert in supporting top companies achieve their strategic goals, making her an invaluable asset to drive Alloy's future growth. Her prior experience spans various sales, data partnership and business leadership roles working primarily with startups focused on using data to solve problems based on changing consumer behaviors. "We're ecstatic to welcome Kiran, Joel and Natalie to our leadership team," said co-founder and CEO Tommy Nicholas. "They each bring unique perspectives from all areas of the business world. We have big, lofty goals for the next year at Alloy and we need the best of the best to help drive that. Each new addition to our leadership bench will undoubtedly play a critical part in making those goals a reality." Alloy is a smart identity solution that helps companies in financial services and other regulated industries safely onboard more customers without introducing any additional fraud into their systems. Its single API and SaaS platform leverages data from more than 85 sources to help financial institutions make real-time decisions about high-cost financial risk. Alloy makes it easy to quickly and safely onboard and manage more customers, automating the vast majority of decisions, mitigating fraud and high-cost financial risk, and reducing the burden on the back office and manual review queues. To learn more about Alloy, visit www.alloy.com. About AlloyAlloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 85 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.
NEW YORK, April 7, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced Gemini, a leading cryptocurrency exchange and custodian, will be leveraging its platform to automate identity decisions and verification for the new Gemini Credit Card. Gemini will use Alloy to facilitate its onboarding process for credit card customers and help to ensure the right systems are in place to capture and review customer data to reduce exposure to non-compliant account openings. Gemini's recently announced novel crypto rewards credit card is regulated under the same KYC/AML protocols as traditional credit cards, meaning there's a critical need to balance approval speed with the ability to meet stringent compliance requirements. The Gemini Credit Card will work like a traditional credit card, available to U.S. residents in every state and widely accepted wherever major cards are accepted. Cardholders will earn up to 3% back on every purchase in bitcoin or other crypto which will be automatically deposited into their Gemini account. "With the Gemini Credit Card, our goal is to allow people to easily earn crypto on everyday purchases," said Thomas Harrison, Group Product Manager at Gemini. "Alloy's technology is the identity engine empowering us to meet the same regulatory requirements as traditional credit cards, while also providing a fast and seamless onboarding and underwriting process." Integrating Alloy's single API with their onboarding process provides Gemini with access to more than 85 data source products to create an automated KYC/AML process built to scale with demand. During onboarding, the Alloy platform uses the integrated data sources to verify the applicant's identity. Once identity is confirmed, Alloy helps determine if the applicant is safe to lend money to and what their credit limit and APR should be based on rules set by Gemini. "We are excited to be a part of Gemini's journey to innovate the credit card space and lessen the complexity surrounding compliance," said Tommy Nicholas, CEO and co-founder of Alloy. "By automating the traditionally manual processes involved in onboarding and underwriting, we can create a seamless experience for Gemini Credit Card applicants while also reducing overall exposure to fraud." For those who are interested in learning more about the Gemini Credit Card, they can join the waitlist at https://www.gemini.com/credit-card/waitlist. About AlloyAlloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 85 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.
NEW YORK, Jan. 11, 2021 -- Alloy, the identity operating system for the financial services industry, today announced Charley Ma has been appointed General Manager of Fintech, where he will be focused on deepening the platform's fintech offerings and go-to-market strategy. Ma joins Alloy from Ramp, where he was head of growth and helped launch the first corporate card built for savings. Prior to Ramp, he was the first business hire at Plaid, where he led the fintech and developer sales vertical and built out the firm's New York office prior to Visa's $5.3B acquisition. Earlier in his career, Ma worked across several strategy and product groups at JPMorgan Chase covering payments, APIs, blockchain and fintech. "I'm very excited to be joining Alloy during a period of unprecedented growth for the company and for the fintech space in general," said Charley Ma. "Prior to joining, I spent a lot of time talking to founders, operators, and investors in the space and it quickly became clear to me that the Alloy team has built a best in class platform for identity decisioning in close partnership with their clients. I'm looking forward to working with more companies in the fintech ecosystem and continuing to expand our product offerings." Alloy helps banks and fintechs provide a superior digital experience to customers while ensuring they can make smart and safe identity and risk decisions that help improve their business. Alloy makes it easy to quickly and safely onboard more customers and automate the vast majority of risk decisions, providing a seamless experience for customers and reducing the burden of manual reviews for employees. The single API and SaaS platform leverages data to help financial institutions make real-time decisions about high-cost financial risk. From initial customer onboarding to ongoing transactions and events, Alloy can monitor for risk throughout the lifecycle of a customer. "We're thrilled to welcome Charley Ma to Alloy's leadership team," said co-founder and CEO Tommy Nichols. "We've known Charley for a long time and have always been impressed with his knowledge and vision for the fintech space. He's not only got the fintech chops and ideas to make Alloy the best partner possible to our clients, but he's truly a pleasure to work with. His invaluable industry experience will play a critical part in driving our growth in this sector in 2021." To learn more about Alloy, visit Alloy.com. About AlloyAlloy helps financial services companies make better decisions with better information, using a single API service and dashboard to manage identity verification from signup through the lifecycle of the customer. Alloy makes it easy for financial services companies to quickly and safely onboard more customers, mitigating fraud and high-cost financial risk. Learn more at Alloy.com and on Twitter @UseAlloy.
NEW YORK, Sept. 16, 2020 -- Alloy, the identity operating system for the financial services industry, today announced it has raised $40 million in Series B funding. Canapi Ventures led the round with participation from Felicis Ventures and Avid Ventures, as well as existing investors Bessemer Ventures, Primary Venture Partners, and Eniac Ventures. In addition, Canapi Ventures partner Walker Forehand will join Alloy's board of directors. Alloy helps top banks and fintechs make better identity and risk decisions using a single API service and SaaS platform. From initial customer onboarding to ongoing transactions and events, Alloy leverages data to enable financial institutions to make real-time decisions about high-cost financial risk. Working across more than 60 identity providers, Alloy's API and dashboard make it easy to quickly and safely onboard more customers and automate the vast majority of decisions, mitigating fraud and reducing burden on the back office by removing the need for outdated manual review queues. Fintechs and banks alike are turning to Alloy to automate their increasingly complex risk decisions. In the last year alone, Alloy has seen significant growth in recurring revenue and its customer base has nearly doubled, servicing over 90 customers including Ally Bank, Evolve Bank & Trust, and Brex. The fully automated Alloy platform delivers a dramatic reduction in fraud, an increase in approval rates for good customers, and a 95% reduction in manual reviews. The company has also more than doubled its internal headcount to accommodate the growing demand for its services. "The pandemic accelerated a seismic shift in the way consumers and businesses conduct financial services online," says Forehand. "We're operating at a time where digital channels, online account activity, and cybercrime have exploded. New technology and approaches are needed to help financial institutions scale digitally while managing these risks in an operationally efficient way. We are thrilled to put our support behind the Alloy team and its technology to help banks and fintechs solve digital identity challenges." The funds will be used primarily for investments into the Alloy team. First and foremost, the company plans to scale its sales and marketing business units to keep up with the increasing demand. Longer term, Alloy will focus on expanding its R&D to bring new products to market related to transaction and credit decisioning as well as document verification. Other investors that participated in the funding include Addie Lerner, founder and managing partner at Avid Ventures, and Victoria Treyger, general partner and managing director at Felicis Ventures, who led the firm's fintech investments in Hippo and SentiLink. "We're honored to have the Canapi team's wealth of knowledge as both investor and board member," said co-founder and CEO Tommy Nicholas. "Our investors have extensive experience scaling fintech companies and developing industry-changing SaaS platforms. Their investment is a further validation of our team and mission to help financial companies deploy safe and seamless digital customer experiences. We couldn't ask for better partners to enter the next phase of growth with." To learn more about Alloy, visit Alloy.com. About AlloyAlloy helps financial services companies make better decisions with better information, using a single API service and dashboard to manage identity verification from signup through the lifecycle of the customer. Alloy makes it easy for financial services companies to quickly and safely onboard more customers, mitigating fraud and high-cost financial risk. Learn more at Alloy.com and on Twitter @UseAlloy. About Canapi VenturesCanapi Ventures is a venture capital firm investing in early to growth-stage fintech companies. Our partners have been at the forefront of financial services innovation as operators, investors, bankers, advisors, and regulators. Our venture capital model connects high-quality fintech companies to our extensive network of banks and strategic partners. Canapi Ventures is advised by CenterHarbor Advisors and Canapi Advisors, LLC, a wholly owned subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB). For more information, visit www.canapi.com.
