Get 2026 fraud trends and statistics for financial institutions and fintechs, and benchmark your fraud strategy to elevate your defenses.
See how Alloy's identity and fraud prevention platform uses AI and 270+ data solutions to detect fraud and accelerate growth across the customer lifecycle.
Alloy CEO Tommy Nicholas breaks down the 3 trends keeping fraud and compliance teams up at night: AI-accelerated fraud, agentic users (KYA), and efficiency mandates.
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7th largest credit union in the U.S. drives growth by keeping members safe
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Positioning fraud prevention as a growth driver
Brian Russell’s career includes leadership roles at MasterCard, JPMorgan Chase, and Wells Fargo. Most recently, as SVP in the Chief Digital Office at U.S. Bank, he spearheaded the creation of the Authentication Hub—an integrated technology stack that has become a benchmark in secure, seamless customer experience.
The cost of fraud may seem inevitable to financial organizations. But turning business risk into competitive advantage is just a matter of strategy.
NEW YORK, July 16, 2025 – Alloy, a leading identity and fraud prevention platform provider, has been recognized on CNBC‘s World’s Top Fintech Companies 2025, a listing of the top 250 fintech companies globally ranked by CNBC together with market research firm Statista. This is Alloy’s second time to be named to the prestigious list. “Winning this award is an honor because it speaks to our strength across multiple vectors including our platform, our client success and support teams, and our culture,” said Tommy Nicholas, CEO and Co-founder at Alloy. “We’re looking forward to continuing the momentum as we further grow our team and simultaneously help our clients grow their businesses.”Alloy was founded in 2015 to help solve the identity risk problem for companies that offer financial products by enabling them to outpace fraud and confidently serve more people around the world. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy to take control of fraud, credit, and compliance risk, and grow with the clearest picture of their customers. Alloy’s identity and fraud prevention platform provides access to over 250 partner solutions to help clients make decisions about their customers in real-time. “Alloy has spent the last decade building a product and team trusted by some of the largest fintechs and financial institutions in the world,” said Charles Birnbaum, Partner at Bessemer Venture Partners. “Along the way, they’ve stayed true to fostering a culture of collaboration that continues to set them apart as a best place to work in fintech.”Headquartered in New York, NY, Alloy is comprised of over 280 employees and has been recognized as a Best Workplace by Forbes, Inc., American Banker, and more. Interested applicants can apply for open roles at https://www.alloy.com/about/jobs. About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.
In this eBook, we explore how using multiple data source providers in your identity verification process can not only help you mitigate fraud risks, but also bring on more good customers.
Learn how credit unions can combat account takeover fraud and scams by leveraging layered security, staff training, and member education to stay ahead of cybercriminals.
NEW YORK, June 26, 2025 – Alloy, a leading identity and fraud prevention platform provider, announced it now serves over 700 clients globally, including financial institutions and fintechs such as Navy Federal Credit Union, Consumers Credit Union, Grasshopper Bank, and UK-based IG Group. Fueled by strong demand, Alloy grew revenue significantly while simultaneously improving profitability metrics—demonstrating the company’s focus on sustainable growth.“We’re committed to approaching fraud prevention not just as a control function, but really as a growth driver,” said Keith Kettell, Chief Revenue Officer at Alloy. “Helping our clients grow safely and efficiently has meant our business has grown right alongside them.”Financial institutions and fintechs are increasingly challenged to find the balance between optimizing growth and managing identity risk. Alloy was founded in 2015 to solve this core challenge and today continues to evolve to ensure that clients have the platform, solutions, and guidance they need to achieve smart growth. The company has offices in New York and London, where its UK-based team, clients, and revenue continue to grow rapidly in service of fintechs and financial institutions operating across multiple geographies. To help clients not only prevent fraud attacks, but also respond to them in real time when they happen, Alloy recently launched Fraud Attack Radar, an AI and machine learning (ML)-powered solution that provides financial institutions and fintechs with actionable intelligence on fraud threats targeting new account creation. Fraud Attack Radar goes beyond a simple alert and instead provides potential insights into why a fraud attack is happening, who’s behind it, and how to respond effectively. The product is the latest addition to Alloy’s suite of actionable AI tools, which help clients assess risk both at the portfolio level (Fraud Attack Radar) and entity level (Entity Fraud Model) throughout the customer lifecycle.Alloy also continues to invest in its industry leading network of solutions, channel, and systems integrator partners. The company recently announced new and expanded channel partnerships to provide customers of Q2, Narmi, Blend, and 10x Banking with access to Alloy’s premier identity and fraud prevention platform across onboarding and ongoing use cases. To provide financial institutions with best in class sources of fraud and compliance data, Alloy also added 18 solutions partners in the past year, including BioCatch, Innovis, and Data Zoo. Today Alloy provides pre-configured access to over 250 solutions—from device risk to behavioral biometrics and document verification.In support of its next phase of growth, Alloy has made key additions to its executive team:Dustin Lawler joined as Chief Operating Officer, bringing over two decades of experience leading global technical teams at high-growth SaaS companies, most recently as an executive at Datadog. Lawler now oversees Alloy’s technical solutions organization with a focus on maximizing the value of both Alloy’s platform and highly experienced team for clients. Kim Nguyen has been promoted to Chief People Officer following five years of growing Alloy’s global team. Under Nguyen’s leadership, Alloy has been recognized as a Best Place to Work by Forbes, American Banker, Inc., and Built In, among others—a testament to the company’s people-first culture. Nguyen will focus on building out Alloy’s skilled workforce as the team continues to hire and grow.“Alloy stands out in the industry due to the company’s highly collaborative work with its clients, who view the Alloy team as trusted partners in the fight against fraud,” said Dustin Lawler, Chief Operating Officer at Alloy. “I’m excited to be joining the company at such a pivotal point in its growth trajectory and helping our clients grow alongside us.”About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.
London, 18 June 2025 -- IG Group (“IG”), the FTSE 250 online trading company, has partnered with Alloy, a leading identity and fraud prevention platform provider. The partnership enables IG to better achieve full regulatory compliance without impinging on the company’s capacity to provide a seamless customer experience and hit ambitious business growth objectives. The UK financial services industry has developed one of the most rigorous and demanding regulatory regimes globally. Meeting compliance standards is critical to the success of any UK financial services or fintech company. Asked to name the most concerning consequences of fraud in Alloy’s recently published State of UK Fraud Report, almost all C-suite leaders at UK fintechs put satisfying regulatory requirements and mitigating reputational damage at the top of the list.* On top of this pressure to remain compliant, UK fintechs and banks also face pressure to grow. Many businesses operate on outdated, internally-built tech stacks that are too rigid to adapt to evolving demands. At the point of onboarding or verifying customers, the collection and verification of documentation is often managed manually, resulting in fragmented workflows, poor data visibility and a high volume of referrals to KYC analysts for further manual inspection. These delays and hurdles typically result in lower than desired STPs (straight through processing rates), which in turn lead to higher lead times to account activation and higher dropout rates in prospective clients. Alloy’s industry research indicates that this complexity is heightened in businesses like IG that serve customers in multiple markets globally and are processing multimillion pound transactions. Without automated workflows that enable perpetual KYC, unnecessary friction and delays can be passed onto customers. William Mead, Head of Operations at IG Group, comments: “Integrating Alloy’s identity and fraud prevention platform into our risk management processes is transforming perpetual KYC from a conceptual ideal to a real-life, proven way of operating that increases automation and efficiency, and reduces risk and development burden. “From the outset, Alloy’s UK team fundamentally appreciated the drain on capacity and resources that continual ID verification creates without the right technology in place. Alloy’s automated verification and monitoring tools help us refocus our attention and efforts to deliver the sort of user experience an IG customer expects from us. By continually ensuring we know who our customers are in accordance with expanding regulatory rules, the experience we can provide feels less intrusive, less onerous and more streamlined.” By leveraging Alloy, IG has been able to develop a dynamic and holistic approach to risk management through the client lifecycle from onboarding to in-life. This approach reduces the potential for regulatory risk, alleviates the need for remediation efforts after risks are exposed, and improves customer conversion and retention. At the same time, Alloy enables IG to consolidate operational workflows in all jurisdictions and orchestrate multiple data signals for due diligence flows based on risk level and geographic requirements, which results in far more automated processes and fewer manual activities. Since integration, IG has experienced a significant increase in automated activations. Most of the time previously spent handling remediation efforts after risks were retrospectively exposed is deployed elsewhere on activities like proactively improving internal processes and enhancing the customer journey.James Baston-Pitt, Alloy’s Head of Growth UK, EMEA and APAC, adds: “IG is an exceptional company that has been focused and collaborative in making bold transformations to their customer decision-making and in-life processes. Balancing the importance of robust, compliant, and seamless experiences globally involves fine-tuning customer journeys to maximise automation in both core and expansion markets. We are very excited about what we have achieved together so far.”Notes to Editors * 93% of UK fintech C-Suite leaders rank regulatory penalties and reputational damage as the most concerning consequences of fraud - Alloy State of UK Fraud Report, March 2025About IG GroupIG Group (LSEG:IGG) provides online trading platforms and educational resources to empower ambitious clients around the globe. Headquartered in the UK, IG Group is a FTSE 250 company that offers clients access to ~19,000 financial markets worldwide. www.iggroup.com About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. https://www.alloy.com/uk
Irvine, Calif., June 11, 2025 — Origence, the leading lending technology solutions provider for credit unions, announced a strategic partnership with Alloy, a premier identity and fraud prevention platform provider. This partnership provides credit unions with a scalable and highly effective solution to grow their business by streamlining digital member onboarding and digital lending while also proactively mitigating fraudulent activity.Through this partnership, Alloy will enable credit unions to verify member identities with access to more than 200 best-in-class sources of fraud, identity, and compliance data without the burden of managing individual integrations. Alloy provides credit unions with the ability to:Optimize growth by increasing top of funnel conversion rates, onboarding automation rates, and speed of origination.Orchestrate unique fraud prevention data points for digital new account opening and direct lending.Easily select from a variety of pre-built fraud and identity solutions, promoting tailored security measures.Reduce costs by pausing additional fraud checks on low-risk applications and make real-time adjustments to balance security and cost-effectiveness. Quickly detect fraud risks in online member onboarding and lending channelsImplement automated know your customer (KYC) and customer identification program (CIP) checks to promote compliance and enhance security measures. Fraud has become an escalating challenge for credit unions, with attacks evolving in sophistication and frequency. At the same time, fraud prevention is acting as a growth driver for financial institutions by enabling them to onboard genuine members. According to a 2025 report from Alloy, 87% of financial institutions reported that the money saved by fraud prevention outweighs its costs. To keep up with growing fraud, credit unions must diversify and layer their fraud solutions to evolve as quickly as the threats they face, ultimately unlocking additional growth opportunities for their business. “As fraud continues to evolve, we recognize the need for cutting-edge solutions that will protect our partners and their members without compromising efficiency,” said Brian Hendricks, Chief Product Officer of Origence. “By integrating with Alloy’s powerful fraud detection capabilities, we equip credit unions with the tools to safeguard their operations, build trust, make more loans, and open new accounts. This is more than just another integration; it’s about empowering credit unions with confidence to move faster than the pace of fraud.”“Credit unions are highly skilled at providing high-quality experiences to the member communities they serve,” said Keith Kettell, Chief Revenue Officer at Alloy. “Our partnership with Origence enables credit unions to continue to faithfully serve their members while also ensuring they reduce fraud risk and ultimately grow their business.”About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.About OrigenceOrigence provides lending technology solutions credit unions need to advance their total origination experience. We were established in 1994 as a credit union service organization (CUSO) and have helped thousands of credit unions process more than 97 million applications, including 8.6 million applications in 2024. Our solutions include indirect lending, loan and account origination, auto shopping, marketing automation, lending operations, and more. Learn more at www.origence.com and follow us on X and LinkedIn.
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Understand how crime rings operate, why they're the #1 threat to financial organizations, and how to cut their success short.
For fraudsters, GenAI’s effectiveness lies in its ability to generate convincing phishing emails, social engineering scripts, and fake identities faster than ever before. Meanwhile, 93% of financial institutions and fintechs believe that AI will revolutionize fraud detection, and 99% of financial organizations say they are already using AI in their fraud controls. In this accelerating game of cat and mouse, financial organizations need an agile, layered defense system to counter the systemic fraud efficiencies brought on by GenAI.
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Alloy President Laura Spiekerman took the stage at the Innovate Finance Global Summit to discuss how fintechs can protect their customers from emerging financial crime threats.
Alloy’s integration with BioCatch empowers financial institutions to provide secure and personalized account opening experiences
NEW YORK, May 13, 2025 -- BioCatch, which prevents financial crime by recognizing patterns in human behavior, today announced a new partnership with identity and fraud prevention platform provider Alloy. The deal fully integrates BioCatch’s end-to-end account opening (AO) solution into the Alloy platform, offering the more than 700 financial institutions and fintech companies that work with Alloy the opportunity to leverage BioCatch’s behavioral and device intelligence.“This is an exciting moment for us,” BioCatch Senior Director of Global Integration Jay Whoriskey said. “The integration of BioCatch’s behavior-based fraud-fighting tools into Alloy’s best-in-class orchestration platform has the potential to protect millions of consumers from account-opening fraud, while also offering a seamless digital experience.”Alloy’s platform seamlessly integrates more than 200 of the most innovative fraud-fighting and identity-verification tools on the market. With this new partnership,Alloy clients can easily add BioCatch’s account-opening protection to their fraud prevention toolset with no custom integration needed. BioCatch’s 2024 Digital Banking Fraud Trends in North America report documented a 59% decrease in AO fraud among the company’s American and Canadian customers, while 72% of the 600 fraud-management, anti-money laundering, and risk and compliance leaders surveyed for BioCatch’s 2024 AI, Fraud and Financial Crime Survey said their organization had encountered cases of synthetic identities when onboarding new clients.“In a world where AI has made financial fraud more scalable than ever, behavioral intelligence tools are essential for separating genuine customers from bad actors,” Alloy GM of Partner Solutions Brian Bender said. “Our integration with Biocatch will give Alloy’s clients another tool in their arsenal for fighting digital fraud in this challenging environment.” About BioCatch:BioCatch prevents financial crime by recognizing patterns in human behavior, continuously collecting more than 3,000 anonymized data points – keystroke and mouse activity, touch screen behavior, physical device attributes, and more – as people interact with their digital banking platforms. With these inputs, BioCatch's machine-learning models reveal patterns in user behavior and provide device intelligence that, together, distinguish the criminal from the legitimate. The company’s Client Innovation Board – an industry-led initiative in partnership with American Express, Barclays, Citi Ventures, HSBC, National Australia Bank, and others – collaborates to pioneer innovative ways of leveraging customer relationships for improved fraud detection. Today, more than 30 of the world's largest 100 banks and 267 total financial institutions deploy BioCatch solutions, analyzing 14.9 billion user sessions per month and protecting 511 million people around the world from fraud and financial crime.About Alloy:Alloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world.
Discover how Alloy’s annual hackathon drives innovation, boosts productivity, and delivers real value to clients — with past projects like Alloy for Embedded Finance, a testing suite, and internal automation tools.
How banks and fintechs can strike the right balance between a great customer experience and fraud risk prevention.
San Francisco, CA: Blend Labs Inc. (NYSE: BLND), a leading origination platform for digital banking solutions, announced today an expanded partnership with Alloy, a leading identity and fraud prevention platform provider.As part of the new agreement, Blend customers can now more seamlessly and cost-effectively access Alloy’s advanced identity and fraud prevention capabilities into their consumer banking solutions, ultimately building a safer and more trusted digital banking experience in order to grow their business.“Our partnership with Alloy helps us go beyond expectations, giving financial institutions the security and scalability they need to lend with confidence,” said Blend's co-founder and CEO, Nima Ghamsari. “With this expanded relationship, we’re making it even easier and more cost-effective for lenders to access top-tier risk and fraud prevention tools—seamlessly built into their workflows.”This latest evolution builds on a longstanding partnership between Blend and Alloy, which has been delivering integrated fraud prevention and compliance solutions across Blend’s deposit account and consumer lending products. Financial institutions using this joint solution are already seeing measurable impact, including Langley Federal Credit Union:"Earlier this year, Langley was hit with a fraud attack, but Alloy and Blend quickly caught it and stopped it,” said Cris Daly, Digital Product Manager at Langley Federal Credit Union. “Alloy detected nearly 700 fraudulent applications and automatically rejected them so that none of those fraudsters made it into our portfolio."Through identity orchestration, the partnership enables lenders to meet KYC (Know Your Customer) requirements and screen for fraud by leveraging a range of third-party data sources. Configurable workflows further enhance efficiency by intelligently sequencing these providers in a cost-effective and optimized manner, ensuring institutions can balance security, compliance, and operational ease.“Fraud prevention has become a critical need in the lending industry, as financial institutions seek smarter, more efficient ways to manage identity risk and grow their business,” said Keith Kettell, Chief Revenue Officer at Alloy. “By combining our expertise in fraud prevention with Blend’s industry-leading consumer banking platform, we’re equipping lenders with the tools they need to stay ahead of threats while also automating and simplifying their operations.”To learn more about Blend’s Consumer Banking solutions, visit blend.com/products/consumer-banking-suite.About BlendBlend Labs Inc., (NYSE: BLND) is a leading origination platform for digital banking solutions. Financial providers— from large banks, fintechs, and credit unions to community and independent mortgage banks—use Blend’s platform to transform banking experiences for their customers. Better banking starts on Blend. To learn more, visit blend.com.About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 600 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.
Chargeback fraud is on the rise, costing financial institutions and fintechs millions of dollars. Alloy's identity and fraud prevention platform can help.
An identity and fraud prevention platform is an end-to-end platform for managing fraud, credit, and compliance risk, providing the clearest picture of customers throughout the entire customer lifecycle.
NEW YORK, NY (March 24, 2025) -- IncredibleBank, a digital-focused community bank headquartered in Wausau, WI, has partnered with Alloy, a leading identity and fraud prevention platform provider, to provide faster service to improve its account opening process, helping the bank to accelerate growth and reduce manual reviews. "Before Alloy, our account opening platform leveraged a single data source and was completely manual," said Phil Suckow, VP of Innovation at IncredibleBank. "Our application volume varied month-to-month, from a few hundred to a few thousand applications, requiring significant back-end resources during spikes. Now, everything is instant."By leveraging Alloy, IncredibleBank significantly improved the bank's digital onboarding process and overall operational efficiency. Application review time was reduced by 88%, and manual reviews were reduced by 90%. IncredibleBank selected Alloy after evaluating several platforms, citing its robust automation capabilities, user-friendly interface, and proven success in mitigating fraud. Alloy's platform has enabled IncredibleBank to:Reduce new account approval times from 2-5 days to instant decisionsCreate holistic risk profiles for applicants by combining five different data sourcesReallocate a full-time employee from application reviews to sales-focused tasksIdentify and mitigate potentially fraudulent applications more effectively“The move to Alloy was strategic, improving our onboarding customer experience and driving business growth without added risk,” Phil Suckow, VP of Innovation at IncredibleBank added. “We needed a platform to automate KYC, KYB, and fraud at originations at an enterprise level. Alloy met those requirements and allowed us to leverage its platform across various business units.” "We are thrilled to partner with IncredibleBank to enhance their account opening process and drive their growth. Their mission is to grow their customers' entire financial relationship is one we wholeheartedly support and are proud to help the bank as they aim to provide an incredible customer experience," said Jamie Verdi, Head of Client Success at Alloy.To learn more about Alloy, visit http://alloy.com About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 600 of the world's largest financial institutions and fintechs turn to Alloy's end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world.
London, 19 March 2025 -- More than two in three UK fintech companies (68%) are reporting higher fraud volumes compared with one year ago, according to new data published today by Alloy, a leading identity and fraud prevention platform provider to over 600 fintechs and financial institutions globally.79% of UK fintechs say they lost at least £500,000 to fraud in the 12 months to October 2024. Strikingly, two in five (38%) fintechs reported losses of between £1m and £5m in that time, and one in ten (9%) lost more than £5m. Alloy’s State of UK Fraud Report identifies three key factors impacting UK fintech’s response to rising fraud: Regulatory compliance weighs more heavily than the risk of financial or customer losses93% of fintech C-Suite leaders ranked regulatory penalties and reputational damage as the most concerning consequences of fraud - ahead of direct financial losses and the loss of clients (both 87%). In late 2024, the UK’s Payments Systems Regulator introduced mandatory reimbursement requirements for victims of APP scams, which require that the sending and receiving organisations each shoulder 50% of the reimbursement cost. As a result, 97% of UK fintechs agreed that it is critical for receiving payment service providers (PSPs) to have robust financial crime controls. Indeed, two-thirds (67%) of UK fintechs say the PSR’s rules are driving overall increased investment in fraud prevention.James Baston-Pitt, Alloy’s Head of Growth UK, EMEA and APAC, comments: “The UK is home to one of the most sophisticated anti-fraud regulatory regimes. However, domestic regulatory innovation can not solve the problem on its own. Fraud is a global, borderless issue. This creates challenges for all fintech companies - in particular, those that want to operate internationally or extend their services to non-UK customers. Fintech businesses are negotiating multiple regulatory regimes against a backdrop of AI-driven fraud that moves and adapts faster than regulations can keep up.”Crime rings are behind the majority of fraud eventsThree quarters (73%) of UK fintechs report that organised crime rings are responsible for the majority of the fraud events identified by their businesses. Less than a fifth (19%) attribute most fraud to customers acting knowingly (known as ‘first party fraud’) and just 8% believe customers who are coerced account for the most fraud cases. “Fraud is a numbers game, and AI is making that game faster, cheaper, and easier for crime rings,” adds Baston-Pitt. “But there are data signals that fintechs can track to distinguish the bad actors from genuine customers. The opportunity now lies in using AI and data-sharing to track certain behaviours, establish patterns created by criminal groups and use that knowledge to eliminate them.”Inadequate internal resources persist, but investment to prevent fraud is growingOf UK fintechs that say their organisations are not sufficiently equipped to respond to growing fraud threats, almost three in five (57%) identify insufficient people, tools and access to data as the top reasons for their unpreparedness. 43% say their current fraud prevention controls are insufficient. In the face of these deficits, 96% of UK fintechs report that they are investing in fraud prevention in 2025. There’s a consensus that these investments pay off: 92% of respondents agree that the amount of money their organisation saves thanks to fraud prevention outweighs its cost. Fintechs cite identity risk solutions as their top investment for reducing fraud rates. “Fintechs face a difficult challenge to equip themselves against an enemy that is continually shapeshifting,” concludes Baston-Pitt. “But it’s encouraging to see that the vast majority of firms look to fraud prevention investment as an outlay to support future growth.”The survey was comprised of responses from 118 decision-makers working in a director-level role or higher at fintech organisations in the UK. The report was conducted on behalf of Alloy by The Harris Poll, a global consulting and market research firm.About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 600 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. https://www.alloy.com/uk
