Alloy’s 2023 year-in-review

Hi Barbies! It’s time to take a look back on the year that was 2023.

The Barbie Movie was the top-grossing film of the year worldwide (sorry, Team Oppenheimer!). Prince Harry and Britney Spears dropped some major bombshells in their respective memoirs. We said goodbye to the fan-favorite TV show, Succession. Plus, Taylor Swift’s Eras Tour and Beyonce’s Renaissance Tour managed to contribute a combined $5.4 billion to the US's third-quarter GDP. For the Alloy superfans that have been following along since last year’s recap: Don’t worry — I ended up scoring Eras Tour tickets after all, and it was incredible. 😏

Skip ahead to see some fun stats from 2023 in our infographic below

Banking and fintech’s top stories of 2023

Aside from the pop culture highs, the financial services industry had a lot of newsworthy moments last year, too.

Regulators shut down Silicon Valley Bank (SVB), sending shockwaves to the global financial services and tech industries. Crypto grew up a bit, while those playing fast and loose went to jail. Regulatory scrutiny on banks’ third-party relationships — notably including bank/fintech sponsorships — grew as the Federal Reserve, FDIC, and OCC released final interagency guidance on the matter. FedNow launched in July and, along with it, a new channel for fraud.

Fintech funding pulled back, but there were still a few bright spots as fintechs such as Tabby, Enable, and inCred all hit unicorn status in 2023. 🦄

Meanwhile, ChatGPT and other developments in AI sparked a lot of buzz for both their benefits and the threats they pose to the financial services industry, and society as a whole. 🤖😱

Alloy’s 2023 highlights

Company and product updates

The year was no snoozefest at Alloy either. We signed 220 new clients, added 36 new data products, and powered 20.4 identity risk decisions per second on average. Take a look at some more highlights below.

We continued to expand our codeless SDK, enabling a truly frictionless step-up verification experience and future-proofing our clients’ fraud prevention tech stacks with support for device and behavioral risk use cases.

Our new Testing Suite enables clients to test new policies or changes to their decisioning logic and see projected outcomes — easing the pressure of making changes and going live, while increasing their agility to respond to growing fraud threats.

We beefed up our Reporting and Analytics dashboard for Journeys to give you deeper insights into performance and enable you to make data-driven decisions to optimize your policies over time.

We also expanded our existing credit underwriting capabilities to offer a holistic and proactive approach to credit line management beyond origination, enabling banks and fintechs to monitor for credit risk throughout the customer lifecycle.

Team and culture updates

Along the ride, we continued to foster an engaging and inclusive company culture, helping us land on American Banker’s Best Places to Work in Fintech and Inc.’s Best Workplaces lists.

In 2023, we hosted 78 company-wide employee events and over 140 team events. Our incredible employee resource groups (ERGs) hosted countless amazing parties, fundraisers, volunteer events, and lunch & learns. Highlights included an unforgettable drag competition featuring Alloy’s C-suite, an enlightening panel about what it is like being an AAPI employee at Alloy, an epic food tour of New York’s Jackson Heights neighborhood in honor of Hispanic Heritage Month, private screenings of The Women King and Barbie, and so much more!

And to top it off, Alloy employees raised $31,640 in charitable donations throughout 2023.

It was an incredible year, and we couldn’t have done it without our amazing Alloy team members, clients, and partners.

Alloy’s year, by the numbers