Content Library

Perpetual KYC: automated risk-based compliance

Many banks and fintechs are opting for perpetual KYC instead of periodic reviews. We break down what perpetual KYC is, how to implement it, and how to balance cost with risk.

How leading banks and fintechs are verifying thin-file applicants

Many members of the underbanked population have no or thin credit files — which, in a classic case of what comes first, the chicken or the egg — makes it even harder for them to acquire a credit card. But how can organizations safely verify and underwrite these populations? I asked experts from Alloy, Equifax, Nova Credit, Zest AI, and Ocrolus to find out.

A brief history of the evolution of fraud technology

We take a look at the evolution of fraud technology over the past two decades to help gain a better understanding of how banks and fintechs can fight fraud, maintain their customers’ trust, and continue to keep up with customer expectations for the onboarding experience—even as new threats emerge.

DEI @ Alloy: April 2023 roundup

Another month, another set of excellent events from Alloy’s Employee Resource Groups (ERGs)! Trail Blazers (our ERG for women @ Alloy) hosted a panel with Women in Fintech and a volunteer event. HOLA (our Hispanic Organization & Leadership ERG) hosted a spicy salsa social. Meanwhile, the DEI Committee is hard at work behind the scenes planning company-wide training programs for the rest of the year.

#Alloy News

Cannabis Compliance: How banks can tap into the budding marijuana industry

In honor of the official/unofficial holiday in celebration of marijuana — lovingly referred to as "4/20" — we take a look at cannabis compliance requirements. Experts from BCB Community Bank and Shield Compliance share their tips for banks and fintechs thinking about opening a cannabis program.

#Compliance

Real-time payments: RTP vs. FedNow

Do faster payments mean faster fraud? We break down real-time payments and what they mean for your fraud controls.

Nearly two-thirds of Americans report concerns about tax fraud

Tax season brings with it new potential for fraud against Americans, and the numbers reveal that they are both aware of this threat and concerned about it. In this blog, we dig into the data around consumer fraud fears and discuss the repercussions for financial institutions.

#Fraud

The digital transformation of in-branch account opening

There’s been a lot of talk about how customers only want to operate online nowadays. In response, businesses are focused on building or improving their digital experience — and they should be. Gen Z and millennials tend to opt for online experiences before in-person ones, but that doesn’t mean you can forget about your in-person experience.

How to stop small business banking fraud

There's no way to sugarcoat it. Banks and fintech companies alike are getting crushed right now by small business account fraud. In this blog, we break down what types of small business banking fraud to look out for and how to prevent it.

When and how to file a Suspicious Activity Report (SAR)

What is a Suspicious Activity Report (SAR)? Who is required to file a SAR? When do you need to file one? How do you file one? — Alloy's Director of Compliance answers all these questions and more.

Alloy partners with Kyckr to streamline KYB checks for global companies

#Alloy News

DEI @ Alloy: March 2023 roundup

Our employee resource groups (ERGs) hosted some amazing events over the past month, and our employees celebrated Black History Month and Women’s History Month.

#Alloy News

Sole proprietorships vs. LLCs: how to verify small businesses

KYC, KYB, and AML laws require financial institutions to verify a company’s (and its beneficial owners’) identity before offering the business financial services or products. We break down the nuances of onboarding sole props vs. LLCs.

Why knowledge-based authentication (KBA) is not effective

Alloy CTO, Charles Hearn, uses his own knowledge-based authentication (KBA) questions to prove why they are an not effective approach to identity verification.

Baker Hill Partners with Alloy to Help Financial Institutions Verify More Loan Applicants & Mitigate Fraud Risks

#Alloy News

What is ambient fraud?

The most common type of fraud is one you might not have heard of yet. Here’s how to identify and combat ambient fraud.

#Fraud

Eight years of bringing Alloy’s vision, mission, and values to life

Alloy's co-founder and CEO, Tommy Nicholas, reflects on the foundations that help inform everything we do here at Alloy.

DEI @ Alloy: February 2023 roundup

Our DEI committee and employee resource groups (ERGs) are continuing to put together awesome events and volunteer opportunities for Alloy employees. Take a look at what went on over the past 30 days, including Black History Month and Lunar New Year celebrations.

#Alloy News

Why collaboration is key to fighting fraud

Alloy CEO Tommy Nicholas reacts to new State of Fraud Benchmark Report.

Identity decisioning platform Alloy launches in the UK

#Alloy News

Enigma Partners with Alloy to Diversify Access to Small Business Intelligence

#Alloy News

DEI @ Alloy: January 2023 roundup

Alloy’s LGBTQ+ employee resource group (ERG), Out & About, kicked off the year with a bang 💥— hosting our first ERG event of the year and biggest ERG event to date, a drag competition for charity to benefit Lambda Legal.

#Alloy News

How to stay compliant with sanctions screening obligations

Breaking down sanctions watchlists screening, know-your-counterparties, and more.

More than two-thirds of financial institutions lost over $500K to fraud in 2022, Alloy report finds

#Alloy News

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