New features have been released for Alloy for Embedded Finance (AFEF) clients to enhance collaboration between fintechs and their sponsor banks.

• Parent Controller Investigations and Alerts (Nov 5): Parent accounts will be able to view and action on investigations and alerts across all of their child accounts via aggregate queues. In those queues, parent agents will be able to do the following within each investigation:
  • Upload documents
  • Add notes
  • Review an investigation
  • Promote an investigation to a case
  • Close an investigation
  • Assign a parent or child agent to an investigation or alert
• Parent Filter (Dec 23): Transactions can be filtered by the parent slug, so that alerts are triggered for the appropriate parent account and not for other banks that their child account may have partnerships with.  We’ve added this parent slug to the following MLA filters:
  • Transaction History
    • Monetary MLA
    • Counterparty MLA
  • Account History
    • Account Balance MLA
• Cross-Account Permissions (Feb 13): Limit agent access to specific child accounts, depending on their function (e.g. Customer Success vs. BSA teams). To configure access, create groups of child accounts in Settings and map those child groups to existing roles within the parent account.

Multi-Step Parent Approver (Feb 21): Configure a Journey to require approvals from both the child account and their parent account before an application is approved.

Clients using custom outcomes can now explore the tags correlated with those outcomes and their volume. Previously, this was available only for the default outcomes Approved, Denied, and Manual Review.

Visit Workflow Analytics within your Home tab and scroll below “Total Evaluations Over Time” to view tag counts for each outcome.

Proactively detect fraud attacks with Alloy’s new AI-powered model, Fraud Attack Radar, that analyzes portfolio-level activity to identify suspicious patterns at the point of onboarding. 

Once set up, you’ll receive timely notifications that allow you to detect fraud earlier and contain fraud before it escalates. It will alert you when we see strong indicators of fraudulent activity across your portfolio so you can take immediate action to contain the threat and triage impacted applications.

To get started, navigate to the Workflows page and click the three vertical ellipses and select ‘Fraud Attack Radar’ for your chosen workflow. Toggle the model on and enter the roles who should receive notifications.

Clients on Journeys have access to several improvements to better identify and navigate rerun Applications:

• Filter the Application Queue to distinguish rerun Applications from original Applications for audits and reporting.
• New rerun indicator on the Application details page to easily identify rerun Applications.
• Hyperlink related Applications, allowing agents to easily navigate to previously run Journey Applications and the original/source Journey Application.

Clients utilizing Alloy’s Events API now have another level of granularity to map different event statuses to different workflows for evaluation. This allows clients to specify an event status to evaluate with a given workflow, rather than evaluating all event statuses by default. (E.g. Instead of evaluating attempts, successes, and failures, can have a workflow just evaluate attempts.)

In addition, clients can map an event status to no workflow at all and store the event data for internal analytics.

To access this feature, please reach out to your Alloy representative.

Clients now have the ability for a single Alloy entity to store and be referenced by multiple external entity IDs.

The most common scenario is when clients using Alloy for onboarding and ongoing monitoring create a unique identifier for an entity during onboarding, and later a separate identifier once the entity’s account is opened. To prevent duplicate entity creation and to preserve historical data, an entity can be referenced by any of their multiple unique identifiers.

Another use case is clients with multiple systems sending data to Alloy. Unique identifiers from those separate systems can be added to a single entity in Alloy.

Clients will be able to:

• Add multiple additional external entity IDs to entities
• Utilize the entities, evaluations, journeys, and events APIs using any of the entity's external entity IDs
• Search evaluations, entities, applications, alerts by any of the entity's external entity IDs
• Search any historical records by any of the entity's external entity IDs
• Merge entities and retain all external entity IDs.

Clients can now sandbox test Rule Based Notifications and be alerted for rules which have been hit in their production or sandbox environment. Rule Based Notifications allows you to set up alerts to be informed when pre-defined thresholds are breached, enabling proactive detection of anomalous activities that might indicate fraud.

Set up and configuration only takes a few steps – check out this guide for a few sample rules or learn more here in LAB.

Clients on Journeys can use the CLEAR SDK Plugin to seamlessly and securely verify users. CLEAR’s services allow users to create or leverage an existing CLEAR account to provide verified and secured identity information, which can be leveraged at the time of onboarding or as step-up verification on an ongoing basis.

Existing SDK clients can turn on the CLEAR SDK plugin in the SDK configuration modal. If you’d like to try the Alloy SDK, reach out to your CSM or [email protected] to learn more.