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.
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7th largest credit union in the U.S. drives growth by keeping members safe
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NEW YORK, March 10, 2025 -- Alloy, a leading identity and fraud prevention platform provider, today announced the launch of Fraud Attack Radar, a machine learning-powered solution that provides financial institutions (FIs) and fintechs with actionable intelligence on fraud threats targeting new account creation. The new solution helps organizations address rising fraud risks by alerting in real-time when a suspected fraud attack is happening, with actionable insights in the Alloy platform to contain, triage and investigate threats, giving FIs the ability to proactively fight fraud without impeding growth. According to Alloy’s 2025 State of Fraud report, 60% of FIs reported an increase in fraud events last year, and only 33% of FIs detected fraud events at onboarding, meaning organizations are leaning too heavily on transaction monitoring controls to catch fraud. With Fraud Attack Radar’s instant alerts, Alloy clients can move to a proactive approach to detection, enabling FIs to stop fraud before money has left their organization. Earlier detection at the point of account opening also enables organizations to save time and resources, minimizing the need for manual clerical work to rectify fraud-related issues.“Many financial institutions are already using AI to prevent fraud,” said Parilee Wang, Chief Product Officer at Alloy. “What sets Alloy apart is that we use AI not just to alert our clients to fraud attacks, but also to provide them with actionable guidance on how to respond. With the Alloy platform, a fraud attack very quickly goes from being a terrifying problem to a contained threat.”Fraud Attack Radar is a data model developed leveraging Alloy’s unique insights into both common and emerging fraud attack strategies targeting the financial services industry. The new solution helps predict the likelihood that a financial institution is undergoing a fraud attack - that is, a coordinated attack by bad actors to create fraudulent accounts using specific fraud attack patterns or strategies. When suspicious activity is detected, clients receive real-time alerts with digestible insights and can instantly deploy more conservative policies to stop the bleeding while keeping their funnel open for low-risk applicants, and reducing overhead for manual review teams. Alloy also streamlines clean-up efforts by providing details on the entities involved to enable further investigation and provides recommendations on how to reopen their funnels over time."Alloy's Fraud Attack Radar gives us the ability to tap into intelligence across Alloy’s broad network to help us identify fraud attack patterns,” said Jacob Salkovitz, VP, Consumer Product Team Leader at Cambridge Savings Bank. “Not only will these notifications allow us to take quick action to contain potential risk, they'll help us save time and resources in the long term so our teams can focus on having a unified and holistic view of identity within the Alloy platform, which will enable us to unlock a level of proactivity."Key benefits of the Fraud Attack Radar include:Actionable insights: whether it’s deploying ‘safe mode’ policies, conducting further due diligence on impacted applications or initiating an investigation, take immediate action within a single platform.Industry-wide onboarding intelligence: a model is only as good as the data you feed it. Alloy’s model is trained on high-velocity attack patterns seen across the financial services industry to improve model accuracy. Portfolio-level insights: Fraud Attack Radar is designed to work at a portfolio level, identifying trends across an entire population of applications. This gives organizations a holistic view of identity risk in addition to the individual/applicant view available within the Alloy platform. Seamless implementation: Existing Alloy clients simply need to opt into using Fraud Attack Radar to adopt it and begin seeing benefits. There are no complex configurations or additional setups needed. Fraud Attack Radar is the latest tool in Alloy’s suite of actionable AI capabilities. While other solutions typically only inform clients when suspicious activity is identified, all signals from Alloy’s models enable them to take immediate action, whether that is conducting an investigation or triggering a more conservative policy. Insights that are gathered throughout the customer journey will continually feed into Alloy’s machine learning models to compute the risk profile of clients – both at a portfolio level (Fraud Attack Radar) and also at an entity level (Entity Fraud Model) – so FIs and fintechs can always stay on top of their risk.Fraud Attack Radar is available immediately to all Alloy clients using the Alloy platform for account origination in the United States. For more information, visit www.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. Learn more at https://www.alloy.com/
London, United Kingdom, March 5, 2025 -- Flagstone, the UK’s largest savings platform*, has partnered with Alloy, a leading identity and fraud prevention platform provider, to deliver a seamless, automated onboarding experience for individual and business customers. The partnership allows Flagstone to approve new applications within seconds, without impinging on the highest standards of security and compliance, and integrate global data partners into a single dashboard.By leveraging Alloy, Flagstone’s enhanced KYC (Know Your Customer) controls ensure that every new client benefits from a streamlined and intuitive onboarding journey without compromising on rigorous verification processes.With £1.1 trillion lost to financial crime annually in the UK**, financial institutions must strike a delicate balance between security and speed. Traditional onboarding processes can be manual, slow and full of friction, discouraging customers from completing applications and leaving firms vulnerable to fraud. The situation is exacerbated by a surge in AI-driven impersonations, deep fakes and organised crime rings. Together these present greater challenges for companies whose duty it is to protect themselves and their customers from the risk of financial loss. Through its partnership with Alloy, Flagstone has automated its onboarding process, reducing friction, improving conversion and pleasing customers, all without compromising security. With Alloy, Flagstone has significantly upgraded from a legacy onboarding process that sometimes took several hours and required manual oversight. Now, Flagstone has vastly increased its average STP (straight through processing rates). As a result, the company can now offer savers access to the UK market’s widest choice of savings products faster than ever before.Francesco Fulcoli, Chief Compliance and Risk Officer at Flagstone, comments: “Alloy fully understands our ambition to take a data-led approach to analysing our users’ needs and translate that back into the sort of compliant and superior customer experience we want to provide. By digitising our AML/KYC processes with Alloy, we’ve sped up exponentially how quickly savers can begin to enjoy access to hundreds of savings accounts on a single platform. Speed with certainty delights customers, serves our bank partners well, and sets us up for continued market leadership for years to come. Alloy’s automated monitoring and decisioning tools ensure we can meet our regulatory obligations efficiently while offering our customers a fast and secure onboarding experience.”James Baston-Pitt, Alloy’s Head of Growth UK, EMEA and APAC, adds: “Businesses like Flagstone must maintain a constant balance between acting in the best possible interests of their stakeholders while also maintaining a brilliant customer experience. By partnering with Alloy, Flagstone is creating a secure and stable environment in which the business can swiftly verify customer identities without causing unnecessary friction or delays - something that is paramount to the successful operation of this fast-growing, in-demand business. We’re delighted to be the engine behind Flagstone’s latest innovation.”Founded in 2013, Flagstone has grown quickly in the last three years to become the UK’s largest savings platform as more savers than ever turn to cash as a way to maximise the interest earning potential on their money in a low-risk, high-return way. Today Flagstone handles around £16 billion in assets on behalf of its individual, business and charity customers. Flagstone customers generated cumulative returns of more than £500 million on their savings in 2024 through the platform. Flagstone is also the engine behind the savings proposition for over 1000 financial services providers with whom Flagstone has API integrations or partnerships.Founded in 2015, Alloy enables global fintech companies to balance risk with growth as they serve more customers around the world. Some of the world’s fastest-growing fintechs rely on Alloy’s identity and fraud prevention platform to test, launch, and scale new products while maintaining confidence in their customers and the trust of partner banks and regulators. From supporting single-use cases like customer onboarding to powering end-to-end identity risk management, Alloy’s configurable solutions for fraud and compliance risk, dedicated expert guidance, and extensive ecosystem of data partners enable fintechs to future-proof their growth.This announcement follows the recent news that Flagstone has recorded record growth, including a 46% increase in revenue to £55 million and a 49% rise in Assets under Administration (AuA) in the twelve months to 31 December 2024.* Based on number of banks on panel and savings accounts on platform** UK Finance Annual Fraud Report 2024About FlagstoneFlagstone is a fintech company located in London that’s recreating how people grow their money. Since 2015, Flagstone’s group assets under administration stand at around £16 billion and it has become the UK’s largest savings platform by the number of banks and savings accounts on its panel. Flagstone customers can gain access to over 220 savings accounts from 66 of the UK’s leading cash savings providers, from the largest incumbent banks to challengers. Flagstone’s total AUA is currently increasing by more than £1 billion per quarter as more customers look to maximise the interest earning potential while minimising risk. Originally created as a platform for individual savers to access and maintain multiple cash savings accounts in one single place, today Flagstone provides white-label and API-integrated capabilities for businesses to offer their own customers easy-to-use, adaptable and competitive savings options. Flagstone partners with many of the UK’s leading wealth management firms including St. James’s Place, and powers a range of savings products at financial services providers including Saga and Revolut.Flagstone Group Ltd is authorised by the Financial Conduct Authority (reference number 605504) under the Payment Service Regulations 2017 for the provision of payment services. www.flagstoneim.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.https://www.alloy.com/uk
As fraud tactics become more sophisticated, staying ahead of emerging threats is critical for financial institutions and fintechs. That’s why we teamed up with American Banker for a webinar, Fraud in Focus: Predictions and Trends for 2025.
Industry experts Sara Seguin, Kristen O'Neill, and Mike Perkowski discuss the latest fraud landscape and strategies on preparing for the year ahead.
Learn which factors lead to bust-out fraud, and how to stop it. Protect your bank, fintech, or credit union from this sudden financial threat.
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.
NEW YORK, February 25, 2025 -- Leveraging products from Amazon Web Services (AWS), Alloy’s identity and fraud prevention platform can now decision on more than eight billion financial events per month, an increase of more than 400%. Alloy, a fast-growing company that enables global financial institutions and fintechs to manage identity risk, has added nearly 200 new clients in the last year alone and was recently named to the Forbes Fintech 50 for the third consecutive year. The company has used AWS since its inception to ensure that it is able to scale its infrastructure alongside the growth of its business. “As Alloy and our clients grow, we need to be able to support an increased number of decisioning events,” said Charles Hearn, CTO and co-founder of Alloy. “At every stage of our growth, AWS has helped us to ensure we not only maintain the capacity for today, but also can easily scale for tomorrow.”To increase decisioning capabilities, Alloy leveraged Amazon Aurora Serverless, Amazon DynamoDB, and Amazon Simple Storage Service (Amazon S3) to support the creation of a data layer that can ingest 3,200 events per second per customer. As a result, Alloy can now compute approximately 1,200 real-time decisions per second, and onboard approximately 600 entities per second. To optimize database usage so that thousands of servers could be safely scaled during peak load, Alloy uses Amazon RDS Proxy, a fully managed, highly available database proxy that makes applications more scalable, more resilient to database failures, and more secure.“Over the course of this project, the Alloy team’s commitment to scaling alongside their clients was incredibly clear,” said Yan Leshinsky, vice president of Amazon Aurora at AWS. “We’re thrilled Alloy has chosen AWS to power their increased decisioning capabilities as they help more financial institutions all over the world build better and safer products.”Alloy’s current clients include some of the world’s largest financial institutions and fintechs, including Navy Federal Credit Union, Ally Bank and Carta. Alloy works with 25% of the top 50 banks in the U.S., including a top five bank, and six of the top 10 credit unions.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.
Alloy’s Principal Advisor of Fraud & Identity Risk, Sara Seguin, shares top takeaways from Alloy’s annual fraud report
JERSEY CITY, NJ, Feb 12, 2025 -- Data Zoo, a global leader in identity verification data, has announced a strategic partnership with Alloy, an identity and fraud prevention platform provider trusted by over 600 leading banks, credit unions and fintech companies, to provide enhanced global data for secure customer onboarding.The partnership integrates Data Zoo’s comprehensive global data assets into Alloy’s orchestration platform, enabling financial organizations to seamlessly incorporate both traditional and non-traditional data sources into their onboarding processes–whether for new or existing clients– while extending their international reach through a single API. The integration allows clients to leverage data as a primary or complementary method for identity verification, which is an effective tool to mitigate the impact of synthetic identity fraud and to reduce friction in the onboarding process. Alloy’s clients can now leverage Data Zoo’s solutions to onboard consumers across the world with a single API integration, reducing operational costs and accelerating time to market in new geographies. “Data Zoo’s mission is to empower businesses with critical access to identity data globally to boost financial inclusion and block out bad actors,” said Charlie Minutella, CEO of Data Zoo. “Partnering with Alloy allows us to bring our extensive global data into an established platform that is trusted by financial institutions and fintechs, helping them mitigate identity risks while expanding their customer base safely.”As financial institutions increasingly seek solutions to balance an effective global customer onboarding experience while maintaining compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, this partnership brings together the strengths of two industry leaders. Data Zoo’s vast global data coverage allows Alloy clients to access critical identity data from multiple markets, ensuring more accurate identity verification across borders. “Alloy's platform is designed to prevent fraud without hindering business growth,” said Keith Kettell, CRO at Alloy. “By integrating Data Zoo’s global data coverage, we are giving our clients the ability to confidently onboard more users in new geographies while staying compliant with regulatory standards.About Data ZooData Zoo provides identity verification data that enables financial institutions, payment platforms, and fintechs to confidently verify consumers and business identities in over 170 jurisdictions using a diverse set of authoritative data sources. Data Zoo’s direct access to international data sources and advanced data sequencing presents companies with a global, efficient, and secure alternative to KYC/KYB verification and compliance.Leading global financial institutions, payment providers, and fintechs trust Data Zoo to verify millions of customers while minimizing fraud and risk. Headquartered in New Jersey, Data Zoo has offices in Amsterdam, Australia, New Zealand, the Philippines, and Singapore. For more information, visit: www.datazoo.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.
For banks and fintechs, fraud prevention is more than a defensive benefit: It’s a growth and transformation driver.
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Fraud trends and predictions, according to US decision-makers
NEW YORK, 28 January 2025 – Fraud professionals overwhelmingly agree (71%) that the majority of fraud attacks were committed by financial criminals and fraud rings in 2024, according to Alloy’s latest State of Fraud Report. The report tracks shifting trends in financial fraud, based on a survey of nearly 500 senior-level fraud decision-makers working at banks, credit unions, and fintechs in the U.S.Alloy’s study comes following new information revealing that losses resulting from fraudulent Paycheck Protection Program (PPP) loans and fraudulent unemployment claims totaled $255 billion, far higher than the U.S. federal government’s initial estimate of $100 billion, according to the December 2024 report from the U.S. House Select Subcommittee on the Coronavirus.This year’s data from Alloy indicates that financial institutions are better understanding how fraud is committed, as decision-makers at financial organizations ramp up efforts to detect and combat attacks. “In the last four years, we saw a massive uptick in organized financial crime, driven by PPP loan fraud that helped fund criminal organizations who then systematically targeted FIs and fintechs,” said Alloy Co-Founder and CEO Tommy Nicholas. “But it has taken these companies time to accurately understand who is responsible for these attacks, because, at first glance, it can look like a regular person woke up one day and decided to commit a crime (first party fraud). Understanding that most fraud is actually coming from organized crime rings has caused a big shift in how the financial services industry fights bad actors.”Fraud continued to rise across both consumer and business accounts in 2024, according to 60% of respondents in the report, with 31% of financial organizations incurring over $1 million in direct fraud losses.Unsurprisingly, 93% of financial organizations are planning to make ongoing investments in fraud prevention in 2025, with 64% planning to implement an identity risk solution. Although 93% of respondents believe that AI will be game-changing for detecting and preventing fraud, expectations for AI will be much more grounded in 2025 than the year prior, Nicholas predicted.“This year will see fewer overhyped promises about AI and more tangible applications of machine learning to address fraud in real-time,” Nicholas said. “Rather than relying on standalone AI tools, financial organizations will shift their focus to investing in platforms that centralize identity and fraud risk across their organizations.”Other key findings include:Fraud has grown the most among enterprise banks – banks with greater than $50B in assets – with nearly 70% reporting an increase in fraud events. 90% of respondents invest just as much time in preventing fraud in branches and other physical channels as they do in preventing fraud on digital channels.62% of respondents are increasing their investment in fraud prevention as a result of recent regulatory scrutiny. The survey was comprised of responses from 486 decision-makers working at a director-level role or higher in the financial services industry across the enterprise banking, mid-market banking, credit union, and fintech sectors. 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.
AUSTIN, TX (JANUARY 22, 2025)— Q2 Holdings Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for financial services, today announced a strategic partnership with Alloy, a leading identity and fraud prevention platform provider, to deliver a joint ongoing fraud monitoring solution for Q2 Digital Banking customers. Powered by Alloy’s centralized identity decision engine for fraud detection and prevention, this new solution addresses the growing need for financial institutions to take control of their fraud monitoring efforts while maintaining an engaging user experience and growing their business.Through this partnership, Q2 and Alloy will deliver a solution that addresses ongoing fraud risks, such as account takeover and peer-to-peer (P2P) payment fraud, that continuously threaten financial institutions. According to Alloy’s upcoming 2025 State of Fraud Benchmark Report one in three financial institutions lost over $1 million to fraud last year. Additionally, account takeover fraud was the most common fraud type by case volume identified by mid-market banks and credit unions in 2024. “The joint solution Q2 and Alloy are offering will go a long way towards enabling financial institutions to prevent fraud without hindering customer experiences, which is a very difficult thing to do,” said Matt Quale, President of Digital Banking at Forbright Bank. “I’m excited about this partnership’s ability to facilitate business growth and mitigate fraud losses for banks and credit unions.” Alloy will serve as the centralized identity decision engine, integrating Q2’s digital banking data, Q2 Innovation Studio, and Alloy’s robust data partner network to help financial institutions prevent more fraud. The ongoing fraud monitoring offering will be the first solution to actively ingest user activity signals coupled with fraud signals from multiple third-party data sources with the ability to interdict in real time on risky activities that may occur within the Q2 Digital Banking platform. “We believe that successful fraud prevention starts with a holistic approach to understanding identity,” said Parilee Wang, Chief Product Officer at Alloy. “That means not just tracking the suspicious movement of money, but also separating out the identities of fraudsters from those of genuine customers. Our joint solution with Q2 brings together the various data sources financial institutions need to more clearly understand their customer so they can better reduce criminal activity throughout the customer lifecycle.” By bringing together events in Q2 digital banking with industry-leading third-party data vendors in Alloy's identity-centric decisioning platform, the joint solution will provide real-time digital banking user action risk assessments and ongoing monitoring. The partnership will also help distinguish genuine customers from the risky ones ensuring that genuine customers benefit from a seamless digital banking experience while strategically introducing healthy friction for riskier customers.Additionally, it will improve operational efficiency via centralized decisioning and streamlined case management.“This strategic partnership between Q2 and Alloy represents an evolution in fraud prevention for financial institutions who leverage Q2’s digital banking platform," said Jim Mortensen, Strategic Advisor at Datos Insights. "By combining Q2's digital banking platform with Alloy's identity-centric fraud prevention and orchestration capabilities, Q2’s clients can leverage a more dynamic approach to fraud detection. What makes this partnership particularly compelling is the real-time risk assessment and interdiction capabilities coupled with the ability for client FIs to make timely modifications to their fraud detection processes rapidly. This approach should help Q2 clients strike that crucial balance between strong fraud prevention and maintaining the seamless digital experience consumers expect."“Banks and credit unions need scalable fraud solutions to combat growing fraud threats while maintaining an engaging customer experience,” said Jeff Scott, VP of fraudtech solutions at Q2. “Our partnership with Alloy will enhance existing native fraud monitoring capabilities within Q2 Digital Banking, providing a scalable, flexible, and identity-centric approach to fraud monitoring across digital channels. We are committed to continuously empowering our customers to help them fight against fraud and protect their account holders.”To learn more about Alloy and Q2’s new solution, please visit this link.About Q2 Holdings, Inc. Q2 is a leading provider of digital transformation solutions for financial services, serving banks, credit unions, alternative finance companies, and fintechs in the U.S. and internationally. Q2 enables its financial institution and fintech customers to provide comprehensive, data-driven digital engagement solutions for consumers, small businesses and corporate clients. Headquartered in Austin, Texas, Q2 has offices worldwide and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com. Follow us on LinkedIn and X to stay up to date. 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. Media Contact Maria Gari Q2 Holdings, Inc. [email protected] 315-657-0041 AlloyLarissa Padden202-841-4419 [email protected]
2024 was a wild ride. Let’s take a look back at the past year.
Whether fraudsters were gaming loopholes in PPP relief programs or sharing their tips and tricks on TikTok, 2024 kept fraud fighters on their toes. Let’s look back at what we believe were the five biggest fraud news stories of 2024.
Jessica Dennis, the head of bank risk and operations at FNBO, talked to Alloy about how she manages risk and helps the bank grow.
Most fraud prevention models no longer keep up with current threats because they focus on transactions instead of identity.
Learn how real-time payment fraud is increasing risk and how to protect against threats in instant payment systems.
Alloy’s real-time risk assessments helps IncredibleBank create a holistic risk profile for each applicant.
LONDON, 21 November, 2024 -- 10x Banking, the cloud-native core banking platform, has partnered with Alloy, a leading identity and fraud prevention platform, to deliver a next-generation customer onboarding, perpetual KYC and KYB monitoring, and credit decisioning platform for financial institutions globally.The partnership combines 10x’s pioneering meta core platform with Alloy’s leading solutions for managing identity risk throughout the customer lifecycle. 10x’s solution powers major financial institutions globally, including Chase UK and Westpac, and provides banks with the fastest, most cost-effective path to cloud-native transformation. Alloy’s platform is trusted by over 600 of the world's most prominent financial institutions and fintechs, including Sonovate, Liberis, Ent Credit Union, Shopify, and Clear Street. Alloy has pre-built integrations to one of the broadest networks of data products in the industry, with over 200 fraud, compliance, and identity data sources including Onfido, ComplyAdvantage, GBG and others covering 195 markets worldwide. On top of this, Alloy leverages its data orchestration capabilities to synthesise all of the data points and automate decision-making for clients, allowing clients to better solve for fraud, credit, and compliance risk, and grow with confidence. This partnership sees Alloy’s data network seamlessly integrated with 10x’s core banking platform, enabling financial institutions to make lending and account opening decisions with increased agility and precision from the core, delivering faster, better business decisions in a market that demands real-time capabilities. The modular decisioning solution allows financial institutions, for the first time, to originate, personalize, and manage loans directly within the 10x Banking platform.Keith Kettell, Chief Revenue Officer at Alloy said: “Our partnership with 10x Banking is a testament to our commitment to helping financial institutions in the UK and beyond fight fraud. Our partnership will provide financial institutions all over the world with flexible tools to efficiently manage identity risk, specifically aiding them in enhancing their account opening and in-life risk management processes.”Matt Mills, Chief Revenue Officer at 10x Banking, said, “Our collaboration with Alloy represents a significant step forward in the modernization of risk decisioning. Alloy’s cloud-native approach to identity risk management complements 10x Banking’s cloud-native core banking platform, creating a modern, versatile credit decisioning tool for banks and fintechs seeking to transform their loan origination processes. This partnership, with 10x’s unique meta core approach, enables us to continue our mission to revolutionize banking for the benefit of financial institutions, their customers, and society.”
RICHMOND, VA, November 13, 2024 -- CapTech Ventures, Inc. (CapTech), an award-winning technology consulting firm, announced today a strategic partnership with Alloy, the identity risk management platform behind over 600 of the world’s leading banks, credit unions, and fintechs. This collaboration leverages Alloy's scalable technology platform to enhance CapTech's offerings and delivery of innovative solutions in the financial services industry. "We are thrilled to embark on this partnership with Alloy," said CapTech CEO Andy Sofish. "Alloy’s expertise in identity risk management complements our commitment to providing secure and innovative solutions. This partnership allows us to enhance our offerings and help our clients improve their customer journeys."This partnership will give CapTech’s financial services clients access to Alloy’s comprehensive identity risk management solution alongside CapTech’s integration expertise, providing them with enhanced security, streamlined customer onboarding, and improved fraud prevention capabilities. Together, CapTech and Alloy aim to help banks, credit unions, and fintechs deliver a seamless and secure digital customer experience by ensuring that Alloy’s fraud and compliance solutions are properly integrated into financial institutions’ existing workflows, core systems, and customer management tools.“This partnership is an important tool for financial institutions looking for a seamless, innovative way to better prevent fraud,” said Keith Kettell, Chief Revenue Officer at Alloy. “CapTech’s deep understanding of technology and innovation, alongside Alloy’s extensive expertise in helping financial institutions manage their fraud, credit, and compliance risk, will allow more banks, credit unions, and fintechs to grow with confidence.” About CapTechCapTech is an award-winning consulting firm that empowers clients to achieve what’s possible through the power of technology. At CapTech, we’re passionate about the work we do and the results we achieve for our clients. From the outset, our founders shared a collective passion to create a consultancy centered on strong relationships that would stand the test of time. Today we work alongside clients that include Fortune 100 companies, mid-sized enterprises, and government agencies, a list that spans across the country. Learn more at captechconsulting.com.About AlloyAlloy helps solve the identity risk problem for companies that offer financial products. Over 600 banks, credit unions, and fintechs turn to Alloy’s end-to-end identity risk management platform to take control of fraud, credit, and compliance risks, and grow with confidence. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.
What did sponsor banks have to say about embedded finance compliance in 2024? Get the fast facts as stats.
Discover how Alloy and CLEAR's partnership streamlines onboarding, improves security, and enhances the customer experience for financial services.
