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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.
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7th largest credit union in the U.S. drives growth by keeping members safe
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NEW YORK, April 7, 2021 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced Gemini, a leading cryptocurrency exchange and custodian, will be leveraging its platform to automate identity decisions and verification for the new Gemini Credit Card. Gemini will use Alloy to facilitate its onboarding process for credit card customers and help to ensure the right systems are in place to capture and review customer data to reduce exposure to non-compliant account openings. Gemini's recently announced novel crypto rewards credit card is regulated under the same KYC/AML protocols as traditional credit cards, meaning there's a critical need to balance approval speed with the ability to meet stringent compliance requirements. The Gemini Credit Card will work like a traditional credit card, available to U.S. residents in every state and widely accepted wherever major cards are accepted. Cardholders will earn up to 3% back on every purchase in bitcoin or other crypto which will be automatically deposited into their Gemini account. "With the Gemini Credit Card, our goal is to allow people to easily earn crypto on everyday purchases," said Thomas Harrison, Group Product Manager at Gemini. "Alloy's technology is the identity engine empowering us to meet the same regulatory requirements as traditional credit cards, while also providing a fast and seamless onboarding and underwriting process." Integrating Alloy's single API with their onboarding process provides Gemini with access to more than 85 data source products to create an automated KYC/AML process built to scale with demand. During onboarding, the Alloy platform uses the integrated data sources to verify the applicant's identity. Once identity is confirmed, Alloy helps determine if the applicant is safe to lend money to and what their credit limit and APR should be based on rules set by Gemini. "We are excited to be a part of Gemini's journey to innovate the credit card space and lessen the complexity surrounding compliance," said Tommy Nicholas, CEO and co-founder of Alloy. "By automating the traditionally manual processes involved in onboarding and underwriting, we can create a seamless experience for Gemini Credit Card applicants while also reducing overall exposure to fraud." For those who are interested in learning more about the Gemini Credit Card, they can join the waitlist at https://www.gemini.com/credit-card/waitlist. About AlloyAlloy is the command center for identity that covers your compliance and fraud-fighting needs. Our dynamic platform connects you to more than 85 data source products to help you verify identities and monitor transactions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.
At Alloy, we are proud to share profiles of the stellar talent on our team. We begin this series in March, Women’s History Month — but, for us it’s every month when it comes to uplifting women in…
Alloy is your command center for identity, giving you an easy-to-use dashboard that covers your compliance, KYC and fraud-fighting needs.
Alloy earns spots on Built In’s Lists of NYC’s 100 Best Places to Work and NYC’s 50 Best Paying Companies.
NEW YORK, Jan. 11, 2021 -- Alloy, the identity operating system for the financial services industry, today announced Charley Ma has been appointed General Manager of Fintech, where he will be focused on deepening the platform's fintech offerings and go-to-market strategy. Ma joins Alloy from Ramp, where he was head of growth and helped launch the first corporate card built for savings. Prior to Ramp, he was the first business hire at Plaid, where he led the fintech and developer sales vertical and built out the firm's New York office prior to Visa's $5.3B acquisition. Earlier in his career, Ma worked across several strategy and product groups at JPMorgan Chase covering payments, APIs, blockchain and fintech. "I'm very excited to be joining Alloy during a period of unprecedented growth for the company and for the fintech space in general," said Charley Ma. "Prior to joining, I spent a lot of time talking to founders, operators, and investors in the space and it quickly became clear to me that the Alloy team has built a best in class platform for identity decisioning in close partnership with their clients. I'm looking forward to working with more companies in the fintech ecosystem and continuing to expand our product offerings." Alloy helps banks and fintechs provide a superior digital experience to customers while ensuring they can make smart and safe identity and risk decisions that help improve their business. Alloy makes it easy to quickly and safely onboard more customers and automate the vast majority of risk decisions, providing a seamless experience for customers and reducing the burden of manual reviews for employees. The single API and SaaS platform leverages data to help financial institutions make real-time decisions about high-cost financial risk. From initial customer onboarding to ongoing transactions and events, Alloy can monitor for risk throughout the lifecycle of a customer. "We're thrilled to welcome Charley Ma to Alloy's leadership team," said co-founder and CEO Tommy Nichols. "We've known Charley for a long time and have always been impressed with his knowledge and vision for the fintech space. He's not only got the fintech chops and ideas to make Alloy the best partner possible to our clients, but he's truly a pleasure to work with. His invaluable industry experience will play a critical part in driving our growth in this sector in 2021." To learn more about Alloy, visit Alloy.com. About AlloyAlloy helps financial services companies make better decisions with better information, using a single API service and dashboard to manage identity verification from signup through the lifecycle of the customer. Alloy makes it easy for financial services companies to quickly and safely onboard more customers, mitigating fraud and high-cost financial risk. Learn more at Alloy.com and on Twitter @UseAlloy.
Learn how to deploy safe and seamless credit applications and delight your customers in the process
Big news today from the Alloy team - we're thrilled to announce that we have raised $40 million in Series B funding!
NEW YORK, Sept. 16, 2020 -- Alloy, the identity operating system for the financial services industry, today announced it has raised $40 million in Series B funding. Canapi Ventures led the round with participation from Felicis Ventures and Avid Ventures, as well as existing investors Bessemer Ventures, Primary Venture Partners, and Eniac Ventures. In addition, Canapi Ventures partner Walker Forehand will join Alloy's board of directors. Alloy helps top banks and fintechs make better identity and risk decisions using a single API service and SaaS platform. From initial customer onboarding to ongoing transactions and events, Alloy leverages data to enable financial institutions to make real-time decisions about high-cost financial risk. Working across more than 60 identity providers, Alloy's API and dashboard make it easy to quickly and safely onboard more customers and automate the vast majority of decisions, mitigating fraud and reducing burden on the back office by removing the need for outdated manual review queues. Fintechs and banks alike are turning to Alloy to automate their increasingly complex risk decisions. In the last year alone, Alloy has seen significant growth in recurring revenue and its customer base has nearly doubled, servicing over 90 customers including Ally Bank, Evolve Bank & Trust, and Brex. The fully automated Alloy platform delivers a dramatic reduction in fraud, an increase in approval rates for good customers, and a 95% reduction in manual reviews. The company has also more than doubled its internal headcount to accommodate the growing demand for its services. "The pandemic accelerated a seismic shift in the way consumers and businesses conduct financial services online," says Forehand. "We're operating at a time where digital channels, online account activity, and cybercrime have exploded. New technology and approaches are needed to help financial institutions scale digitally while managing these risks in an operationally efficient way. We are thrilled to put our support behind the Alloy team and its technology to help banks and fintechs solve digital identity challenges." The funds will be used primarily for investments into the Alloy team. First and foremost, the company plans to scale its sales and marketing business units to keep up with the increasing demand. Longer term, Alloy will focus on expanding its R&D to bring new products to market related to transaction and credit decisioning as well as document verification. Other investors that participated in the funding include Addie Lerner, founder and managing partner at Avid Ventures, and Victoria Treyger, general partner and managing director at Felicis Ventures, who led the firm's fintech investments in Hippo and SentiLink. "We're honored to have the Canapi team's wealth of knowledge as both investor and board member," said co-founder and CEO Tommy Nicholas. "Our investors have extensive experience scaling fintech companies and developing industry-changing SaaS platforms. Their investment is a further validation of our team and mission to help financial companies deploy safe and seamless digital customer experiences. We couldn't ask for better partners to enter the next phase of growth with." To learn more about Alloy, visit Alloy.com. About AlloyAlloy helps financial services companies make better decisions with better information, using a single API service and dashboard to manage identity verification from signup through the lifecycle of the customer. Alloy makes it easy for financial services companies to quickly and safely onboard more customers, mitigating fraud and high-cost financial risk. Learn more at Alloy.com and on Twitter @UseAlloy. About Canapi VenturesCanapi Ventures is a venture capital firm investing in early to growth-stage fintech companies. Our partners have been at the forefront of financial services innovation as operators, investors, bankers, advisors, and regulators. Our venture capital model connects high-quality fintech companies to our extensive network of banks and strategic partners. Canapi Ventures is advised by CenterHarbor Advisors and Canapi Advisors, LLC, a wholly owned subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB). For more information, visit www.canapi.com.
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Another year, another action-packed Money20/20 — the yearly Vegas congregation of the payments, banking, fintech and financial services ecosystems.
Alloy, the identity operating system for the financial services industry, today announced it has raised $12 million in Series A funding.
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Alloy, the platform helping the financial services industry make data-driven customer decisions, announced $3.8 million seed round of equity financing.
