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.
7th largest credit union in the U.S. drives growth by keeping members safe
Watch a conversation and demo to see how banks and credit unions can use machine learning models to stay ahead of fraud risk and deliver friction-right experiences.
When authentication and fraud prevention operate in silos, account takeover attacks slip through. Here's what unified detection actually looks like.
Alloy Marketplace unites 270+ partner solutions and a new library of pre-built decisioning logic in one dashboard. Discover, test, and deploy from one place.
Why spend time on tedious manual reviews when AI can do it for you? Learn how agentic AI for KYC and compliance is helping financial orgs optimize efficiency.
7th largest credit union in the U.S. drives growth by keeping members safe
Alloy’s real-time risk assessments helps IncredibleBank create a holistic risk profile for each applicant.
Alloy helps Earnest optimize customer onboarding and underwriting to boost conversion rates
Know Your Agent (KYA) is how financial institutions verify AI agents acting for customers. Learn the core controls and how it differs from KYC.
Learn how actionable AI empowers financial institutions and fintechs to move from detecting fraud to agile prevention.
Banks and fintechs run into challenges that cause customer friction when it comes to AML, KYB, and KYC regulations.
Customers want more personalized experiences. How does digital banking stack up? Gartner Peer Insights and Alloy surveyed 100 bank leaders to understand what their organizations are doing to provide a personalized and digital customer experience.
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/.
Alloy's SDK offers a codeless solution for customer onboarding and multi-vendor management. Integrate once and iterate endlessly without wasting engineering resources.
In response to the dramatic increase in fraud rates over the last year, Alloy has launched new features to help companies continue to grow while keeping up with the pace of fraud.
Fraud Startups — the technologically savvy, well-funded, nimble, growth-oriented, and organized network of fraudsters — today announced they raised nearly $100B in a new funding round led by pandemic relief fraud. What are FIs doing about this?
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.
This guide illustrates how to scale a fraud prevention strategy by balancing coverage, cost, and user experience.
Alloy’s Employee Resource Groups (ERGs) have continued to throw some incredible events over the past month to educate and connect our employees. We had a few more events honoring National Hispanic Heritage Month hosted by HOLA, a Mid-Autumn Festival party hosted by AAPI @ Alloy, and a National Coming Out Day storytime session hosted by our Out & About ERG.
We break down the three key trends influencing why so many neobanks, fintech companies, and even companies outside financial services are developing consumer credit programs.
We team up with Blend to share best practices for optimizing and modernizing your user experience.
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We’re thrilled to announce that Alloy is teaming up with Stash to help launch their innovative new platform, Stash Core. Alloy’s Identity Decisioning Platform provides ongoing fraud monitoring to keep Stash’s customers’ assets secure.
This month, we continued to support our newly launched Employee Resource Groups (ERGs) get off the ground and host some of their first events. We’ve also got some interesting stats about our ERGs to share.
Alloy CRO, Laura Spiekerman, writes about how infrastructure providers can help fintech companies address fraud and other common fintech pain points.
We asked Yigit Yildirim, Socure’s Vice President and Head of Fraud & Risk, to offer his perspective on the modern identity fraud stack, paths to optimize fraud efficacy, and consider how forward-thinking fraud teams should prepare for changing economic conditions.
Alloy announces $52 million in additional Series C
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
For our latest installment of our Employee Spotlight series, I talked to Kenny about how he juggles working at Alloy and being a new father.
NFTs are a misunderstood innovation. While they may seem like a speculative asset class, many more potential use cases exist. But fraud is unfortunately rampant, and it's important to understand what will drive positive (or increasingly risky) developments in this space.
The latest guest in our fraud Q&A series exploring fraud trends in the financial services space is Christina Luttrell, CEO at GBG Americas. Christina explains why IDology is concerned about Card-Not-Present fraud and what they are doing to protect financial institutions from it.
This past month, the team was focused on supporting the launch of our five Employee Resource Groups (ERGs). We also provided resources for Disability Pride Month and refreshed our quarterly employee DEI metrics.
Alloy has partnered with NeuroID to give our clients access to crowd-level and individual behavioral data to leverage during customer onboarding. Learn about how pre-submit data can shine a spotlight on fraudsters (and genuine applicants!) before they even click “submit”.
An Alloy Client Success Manager takes you through his first-hand experience helping one of our clients work through a fraud attack.
Your guide to understanding the different types of fraud and their impact on your financial institution
