Credit Unions

Leading credit unions prevent fraud with Alloy

Alloy serves credit unions of all sizes — from community to multiregional — so you can continue to transform your members’ banking experience and financial well-being. Our in-branch and digital-based solutions help credit unions respond faster to fraud attacks, while automating workflows and reducing manual workloads for your risk teams.

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Benefits for credit unions

Improve member experience with better fraud protection

Fraud can significantly impact the member experience and erode trust in your organization. You want your members to know that their security is your top priority, and you are always working to protect their accounts, identity, and personally identifiable information (PII).

Stop fraud attacks and scale your fraud prevention

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Automate more processes for existing and potential members

You want to provide your members with fast, efficient service and quick access to your offerings. Alloy lets you combine 190+ data sources into a single workflow to reduce fraud, increase auto-approvals, build dynamic identity profiles, and automate step-up verifications.

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Make smarter, faster lending decisions

It should be as easy as possible for members to apply for your credit products. Alloy helps you configure and customize more complex multi-step application flows with pre-built integrations to both traditional consortium and credit bureau data and alternative data sources—like cash flow data on rent history, utility bill payments, or secondary income from a gig job.

Explore how our dedicated solutions architects can help

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Test new policies before going live

Alloy’s Testing Suite lets you conduct application testing, backtesting, A/B testing, and shadow testing to continuously improve your policies and validate projected outcomes. You can ensure that any new policy or change is operating as it should — and catch any issues that would disrupt member experience — prior to launch. It also allows you to respond agilely to fraud threats and quickly reopen funnels after a fraud attack.

Take a closer look at the Alloy Testing Suite


How Elements Financial uses Alloy for faster auto-approvals and fraud prevention

To grow both deposit dollars and same-day memberships, Elements Financial Credit Union needed a solution that would reduce manual reviews, lead to more automatic approvals of digital applications, and integrate easily with their cloud-based banking platform. Alloy allows them to automate more of their decisioning processes and modify their workflow on an as-needed basis to accommodate different customer segments.

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With Alloy, Elements has experienced:

59% increase in automated account openings overall

40% increase in auto-approval rate for new members

60% decrease in manual review rate

50% reduction in manual review time

Amanda Arthur
Assistant Vice President of Product Management at Elements Financial Credit Union

“Alloy has afforded us the flexibility to be nimble and to proactively apply quick changes to our digital onboarding workflow that respond to our members’ needs. By leveraging different flags and settings in Alloy, we’ve been able to identify potential good members who we might have otherwise declined. This gives us the opportunity to talk to them and offer them accounts. We’re operating at a more efficient level.”

Alloy solutions

New member onboarding
  • Account opening

  • Deposit acquisition

  • Consumer and small business onboarding

  • Identity verification

Consumer lending
  • Credit underwriting for personal loans, credit cards, insurance, and mortgages

  • Prequalification

  • Credit line management

  • Credit remarketing

Fraud monitoring
  • New account fraud

  • Synthetic fraud

  • Deposit fraud

  • Identity verification

  • Payment interdiction

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Compliance automation
  • Initial and ongoing KYC/KYB regulations

  • AML sanctions and watchlist screening

  • BSA/AML transaction monitoring

  • Customer risk rating

  • Case management and SAR filing

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How MACU uses Alloy to enhance onboarding and prevent fraud

Prior to working with Alloy, Mountain America Credit Union’s fraud detection system automatically approved too many members, including fraudulent applicants, and they had to manually review each online application. After implementing Alloy, they were able to adjust the flexible workflows as needed to optimize the amount of well-intentioned members they let through their onboarding funnel.

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With Alloy, Mountain America Credit Union has experienced:

29% decrease in fraudulent applications

6% decrease in manual reviews

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Rob Woellhaf
Vice President, Fraud Management at Mountain America Credit Union

“Alloy gives us a lot more visibility into the concerns behind flagged applications. It helps us understand what type of fraud we’re dealing with, so we can better protect our members and the credit union.”

How to build the ideal digital credit application experience

Consumer expectations are higher than ever — and they want a fast, intuitive application process that’s both low-touch and personalized at the same time. Learn ways to optimize your credit underwriting processes, so they prioritize compliance without jeopardizing the member experience.

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Our partners

And many more. Visit our Partner Center to see our complete list of partners.

Learn how credit unions use Alloy

See what you’re missing

First, we’ll learn about your needs, answer your questions, and then see how Alloy can help.