Alloy CEO highlights how financial institutions can protect themselves from fraud
Direct fraud losses are climbing fast. Speaking with InvestmentNews at the Nasdaq, Alloy CEO and Co-founder Tommy Nicholas explained why fintechs face outsized exposure, how AI is being used to manipulate customers directly, and why strong fraud prevention has become a way for institutions to stand out rather than just a cost to absorb.
Every bad experience you have with a banking product exists because that product is worried you're a fraudster or a money launderer. Your transfer limits, your credit card limits, all of it. If you get great at fraud prevention, you can remove the friction except where it actually matters, and customers are now genuinely glad when you add a step that makes sense to them.
Tommy Nicholas, CEO and Co-founder at Alloy
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