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.
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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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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.
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7th largest credit union in the U.S. drives growth by keeping members safe
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Compare UBO requirements in the US, UK, and EU after FinCEN’s new rule, and learn how global firms can build a consistent beneficial ownership standard.
What does the FCA’s 2026 CDD review mean for firms? Explore key findings on CDD, EDD, ongoing monitoring, governance, and compliance controls.
LONDON, June 2, 2026 -- Modulr, the payments automation platform built to scale, today announced that it has selected Alloy, the AI-powered identity and fraud prevention platform, as a key component in its Risk & Compliance Hub. By using Alloy to orchestrate Know your Customer (KYC) and Know your Business (KYB) verification checks across its international customer base, Modulr aims to streamline the onboarding experience for customers while maintaining strong risk, compliance, and financial crime controls.Modulr’s Risk & Compliance Hub is a connected set of tools and infrastructure that spans the entire customer lifecycle and is built to protect customers, further improve the onboarding experience, and prevent financial crime. The Hub underpins Modulr’s growth strategy as it scales internationally and enters new markets, making robust compliance a core part of its operations.“At Modulr, we’re building a Risk & Compliance Hub that can stand up to the pace of change in financial crime and regulation, whilst also allowing us to give an improved onboarding experience to our scaling customers” said Ben Taylor, Chief Operating Officer at Modulr. “Alloy helps us remove unnecessary friction from onboarding while keeping our teams firmly in control of the decisions that matter. That combination of speed, safety, and control is critical for us to keep pace with this fast-evolving threat environment as we continue to grow.” Modulr will use Alloy to power customer onboarding across multiple markets, consolidating data from a broad network of verification and intelligence providers into a single decisioning layer. Alloy’s AI-powered platform allows Modulr to dynamically assess customer and business risk, triage low-risk applications, and escalate higher-risk cases for deeper human review – all within a unified case management and audit trail.“Alloy and Modulr are focused on delivering a streamlined, low friction onboarding experience without compromising on compliance rigour,” said Parilee Wang, Chief Operating Officer and Chief Product Officer at Alloy. “Modulr will leverage Alloy's no-code risk assessment capabilities, SDK, and network of partners to deliver positive customer experiences and ultimately growth across the business’ different markets.”Modulr’s payments automation platform streamlines money movement with greater accuracy, control, and reliability. Built to scale, it powers use cases across payroll, supplier payments, lending, and travel. With a growing international footprint, Modulr’s Risk & Compliance Hub is designed to scale alongside new products, customers, and geographies. Alloy’s platform and global data ecosystem gives Modulr the flexibility to add new data sources, adjust policies by market, and implement new risk management strategies without additional operational strain.About ModulrModulr is the payments automation platform built to scale, driving the future of finance operations by streamlining money movement with accuracy, control, and reliability. Through a single platform, Modulr automates how money moves into and out of a business – including payroll, supplier payments, spend management, and payment collection – which in turn removes manual work, lowers operational costs, and reduces errors. Backed by deep industry expertise, Modulr brings over a decade of experience as a regulated payments provider, delivering the reliability required to run mission-critical finance operations at scale. Processing more than 200m transactions and over £180bn in payment value on an annualised basis, Modulr is trusted by over 6,000 businesses – from fast-growing SMEs to global enterprises – including a partnership with global financial technology leader FIS. Modulr is authorised and regulated as an electronic money institution (EMI) in the UK by the Financial Conduct Authority (FCA) and in Europe by De Nederlandsche Bank (DNB). To learn more, visit modulrfinance.com. Follow Modulr on LinkedIn and YouTube. About AlloyAlloy is the AI-powered identity and fraud prevention platform that unifies agentic automation and machine learning across the entire customer lifecycle, enabling fast onboarding, ongoing fraud monitoring, and simplified compliance for financial institutions and fintechs. Backed by over a decade of experience and the industry’s broadest open data network and orchestration engine, Alloy enables clients to grow their business with confidence. With offices in New York City and London, more than 800 leading financial organizations around the globe trust Alloy to manage risk at scale. Learn more at alloy.com.
LONDON, 21 January, 2026 – Alloy, an identity orchestration platform provider serving over 700 financial institutions and fintechs globally, has today announced the launch of its first perpetual Know Your Business (pKYB) and Customer Risk Assessment (CRA) orchestration solution in the UK and Europe. This launch follows the European launch of Alloy’s perpetual KYC (pKYC) solution in Autumn 2025.Alloy’s pKYB solution enables UK and European banks, fintechs, and payments companies to move beyond static, point-in-time KYB by automatically re-running checks and re-assessing risk when meaningful business and ownership changes occur (for instance, registry updates, watchlist hits, and event-driven risk signals). The solution is bolstered by Alloy’s AI Assistant, which helps further automate the perpetual KYB process by conducting open-ended web research to corroborate business and ownership changes and by running the Enhanced Due Diligence (EDD) review for businesses that change from low to high risk post-onboarding.This helps compliance and risk teams cut down on hours of manual work while improving straight-through-processing (STP) rates.“Through deep conversations with our UK and European clients, it became clear that static, point-in-time KYB was no longer sufficient,” says Grace Liu, Senior Product Director at Alloy. “We took what we learned, evaluated how the pKYB ecosystem was evolving, and built on our pKYC foundation to move quickly toward a proactive, event-driven future — one our clients are genuinely excited about and that Alloy is uniquely positioned to deliver.”For financial institutions operating in the UK and across Europe, expansion into new territories is often integral to their sustained business growth strategies. As that expansion happens, business risk becomes harder to manage: corporate entities evolve, beneficial owners change, and regulatory expectations continue to rise. Yet many business monitoring programmes still rely on heavily manual workflows in which analysts must sift through high volumes of updates, interpret changes, and apply bespoke policies across markets. Rising regulatory expectations are also amplifying the need for more UK and European fintechs and financial institutions to automate their business monitoring. Central banks and regulators throughout Europe are increasing the number of regulatory actions they take against neobanks and traditional banks in their jurisdictions for lack of anti-money laundering controls.“Periodic checks alone aren’t enough—they need to be complemented by continuous business monitoring,” Liu continues. “With pKYB, Alloy helps institutions detect, evaluate, and act on changes to business identity, ownership, and risk by automating risk reassessment and escalating only the most critical alerts to analysts. The result is consistent policies across markets and the ability to scale confidently, with a clear, up-to-date understanding of business risk between reviews.”Early UK test users report that Alloy’s pKYB and CRA solution enables them to achieve strong compliance standards far faster than if they were to build an in-house alternative. Rather than investing heavily in their own technology development to get to a baseline level of compliance integrity, Alloy’s solution allows teams the potential to move ahead of competitors without losing development time and/or sinking unnecessary development costs. Alloy’s approach to pKYB is built for multi-market scale and operational efficiency, enabling institutions to:Apply configurable policies by market, product, and entity risk level, supporting consistent decisioning while accommodating local regulatory requirements.Reduce manual workload with smart routing, using filtered, event-triggered Enhanced Due Diligence (EDD) alerts that send only the highest-risk changes to analysts, while lower-risk updates can flow through automated Customer Due Diligence (CDD) processes.Accelerate investigations with AI-assisted workflows, including summaries and recommended next steps to speed review-to-resolution.About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world.
LONDON, September 23, 2025 -- Alloy, a leading identity and fraud prevention platform provider, today announced the launch of a perpetual Know Your Customer (pKYC) solution enhanced by AI insights. The pKYC solution will enable financial institutions and fintechs in the UK, Europe, and beyond to improve the customer experience and grow their business, while simultaneously meeting evolving regulatory requirements. Alloy enables UK banks, fintechs, and payments companies like Flagstone, IG Group, and Liberis to increase customer conversions and scale into new geographies while also preventing financial crime.When it comes to pKYC, many financial institutions in the UK and Europe still rely on pre-scheduled periodic reviews, which can leave gaps in visibility and delay responses to financial crime. Alloy’s pKYC solution raises that standard by pairing scheduled refreshes with real-time reactivity to both third-party and first-party data. Underpinning the solution is a dynamic customer risk assessment (CRA) that can be re-run in the event that a user carries out a suspicious activity or has a suspicious change to their personally identifiable information (PII). Alloy also partners with agentic AI providers Parcha and Greenlite to automate and accelerate ongoing financial compliance, including customer reviews. With Alloy’s pKYC solution, compliance teams can act more quickly, increase their straight-through-processing (STP) rates, and protect their customers from financial crime at scale.“Across the industry, the fight against financial crime is shifting from periodic checks to continuous intelligence,” said Francesco Fulcoli, Chief Compliance & Risk Officer at Flagstone. “Static, point-in-time KYC is giving way to dynamic monitoring, where customer behaviour is analysed in real time, and risk assessments evolve automatically. At Flagstone, we see AI and technology as the catalyst for this change: enabling financial institutions to detect anomalies earlier, respond faster, and reduce friction for genuine clients. This is the direction of travel for the market, smarter AML compliance that is always on, adaptive, and customer-centric.”With regulatory frameworks in the UK, Europe, and beyond becoming increasingly complex, compliance is a top priority for financial institutions and fintechs. Alloy’s 2025 State of UK Fraud Report found that 93% of UK fintech leaders ranked regulatory penalties and reputational damage as their most concerning consequences of fraud. European regulators expect KYC checks to be applied dynamically—not only at onboarding but also throughout the customer lifecycle—requiring per-country and per-product policies that must also adapt as new regulations emerge.“For fintechs operating in Europe, meeting ambitious growth goals while staying compliant across multiple markets is a daily challenge,” said Jason Ioannides, VP, Global Fintech and Sponsor Banking at Alloy. “Implementing dynamic pKYC ensures that institutions aren’t just assessing risk at onboarding but also continuously throughout the customer lifecycle.”To help compliance teams automate responses to high-risk KYC checks, Alloy also now offers electronic ID (eID) verification as a new digital authentication method across multiple geographies. With more EU regulators beginning to mandate acceptance of digital identity wallets, Alloy clients can seamlessly integrate eID as a step-up into their KYC workflows—unlocking expansion opportunities in new European and global markets where the ability to verify eIDs may be required. Verifying via eID is also faster and simpler for customers than manual methods such as uploading documents or selfies, enabling financial institutions and fintechs to increase their customer conversions.About AlloyAlloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.
Access global digital identity verification with Alloy's eID solution for financial institutions and fintechs. Speed up growth and simplify compliance.
An identity and fraud prevention platform is an end-to-end platform for managing fraud, credit, and compliance risk, providing the clearest picture of customers throughout the entire customer lifecycle.
NEW YORK, October 3, 2024 -- Sonovate, the leading provider of embedded finance and payment solutions for the contingent workforce, today announced that it is implementing Alloy’s identity risk solution to better prevent fraud while also fueling growth.Alloy helps solve the identity risk problem for companies that offer financial products by enabling them to outpace fraud and confidently serve more people around the world. Over 600 banks and fintechs in the US, UK, and beyond turn to Alloy to grow with a clearer picture of their customers. Sonovate will use Alloy’s end-to-end identity risk management platform to stay ahead of rising fraud trends in the UK. A report from UK Finance found that £1.17 billion was lost to financial criminals in 2023. New technologies like generative AI have given bad actors more sophisticated tools to attack financial institutions. With Alloy, Sonovate is poised to stay ahead of this fraud risk while ensuring that genuine customers can efficiently access the company’s products and services.“With its network of data sources, Alloy gives us the power to protect our business and customers from financial crime and the flexibility to make adjustments as needed as our business scales,” said Tom Wilson, Global Head of Risk and Compliance at Sonovate. “We are excited for this next step in our global growth.”Since it was founded in 2014, Sonovate has funded nearly £6 billion ($8 billion) of invoices, supporting 3,300 businesses and 50,000 workers in 44 countries. In pursuit of the company’s global growth, Sonovate recently opened its first overseas office in Amsterdam and announced significant enhancements to its funding technology platform to better serve large, multinational recruitment businesses. Sonovate joins a growing list of UK-based banks and fintechs that use Alloy to solve for identity risk, including Liberis and Flagstone. “We’re excited to support Sonovate in their mission to empower recruitment and consultancy businesses with tailored financial solutions,” said James Baston-Pitt, Head of UK and EMEA at Alloy. “Risk management has always been a core part of Sonovate’s business, and with Alloy, the company will continue to evolve to address growing fraud threats.”About SonovateSonovate is the leading provider of embedded finance and payment solutions for the workforce. Its finance and technology services cater to recruitment businesses, consultancies, and labour marketplaces who place contractors and freelancers around the world. Sonovate’s platform and expert service deliver swift credit decisions, same-day funding, credit insurance and collection services as well as timesheet and workflow automation, empowering companies to concentrate on expanding their business, confident that processes and funds are in place to help meet payment deadlines. Since it was founded in 2014, Sonovate has funded nearly £6 billion ($8 billion) of invoices, supporting 3,300 businesses and 50,000 workers in 44 countries.About AlloyAlloy helps solve the identity risk problem for companies that offer financial products. Over 600 banks, credit unions, and fintechs turn to Alloy’s end-to-end identity risk management platform to take control of fraud, credit, and compliance risks, and grow with confidence. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.
Examples of check fraud in the US do not apply to the UK. Learn more about how the UK managed to control check fraud and whether that’s led to a decrease in its overall fraud rate.
London, UK, February 6, 2024 -- Liberis, the leading global embedded finance platform, today announced a partnership with Alloy, the identity risk management company behind over 500 of the world’s leading banks and fintechs. The partnership will enable Liberis to leverage Alloy’s platform to fast-track its global growth, and simplify the merchant experience by integrating automated compliance verifications into the funding application process. Additionally, it will facilitate the creation of custom, white-labelled onboarding experiences for partners. “We’re excited to partner with Alloy to help us achieve our global growth goals,” said Alexis Alexander, Chief Legal & Compliance Officer of Liberis. “Alloy’s platform will allow us to enter new markets quickly, optimise our merchants’ fully digitalised application for funding and scale to meet our partners’ demand, while also maintaining our high standards for compliance.” Alloy’s platform provides Liberis with access and integrations to a global network of over 190 data sources that help streamline KYC, KYB, and AML processes while also preventing financial crime. This will enable Liberis to onboard merchants in new markets quickly and efficiently. “We are thrilled to be partnering with Liberis to add them to our growing list of global clients,” said Tommy Nicholas, CEO at Alloy. “Alloy is designed to help businesses take control of fraud, credit, and compliance risk, while growing with the clearest picture of their customers. We’re confident that our partnership will help Liberis achieve its goals and provide its merchants with a seamless onboarding experience.” The collaboration between Liberis and Alloy will streamline the funding application process for merchants, minimising the paperwork involved. Most merchants will experience a smooth and seamless application process, with compliance verifications happening behind the scenes. In cases where further documentation is necessary, Liberis will offer a bespoke, white-label experience that aligns with the needs and standards of both merchants and their partners. “We hold ourselves to high standards on compliance, and we know it’s very important to our partners,” said Alexander. “But adding compliance checks can mean friction in the application journey. Using Alloy, we will be able to reduce this for most customers, whilst never compromising on a fully compliant process”. Liberis is committed to growing in a scalable way. By partnering with Alloy, Liberis can reduce the engineering resources required to support its international expansion and meet its compliance requirements. This allows Liberis to focus resources on its core mission of providing merchants with the funding they need to grow and thrive through their partners. About Liberis Liberis builds flexible embedded finance solutions that empower businesses and provide positive impact. Founded in 2007, Liberis is a leading global embedded finance platform with a mission to provide small businesses with accessible and responsible finance, based on the belief that funding should always be a positive force for small businesses. Liberis provides partners with the technology platform and financial solutions to offer hyper-personalised and accessible funding, empowering their small business customers to grow their revenues. With over 20 global strategic partners and direct reach to more than 1 million small businesses, Liberis has provided over $1bn of funding in over 60,000 transactions, enabling over 100,000 jobs to be created and saved. About Alloy Alloy solves the identity risk problem for companies that offer financial products. Over 500 banks and fintechs turn to Alloy’s end-to-end identity risk management platform to take control of fraud, credit, and compliance risks, and grow with confidence. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.
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.
Alloy streamlines global identity management with new features that help clients operating across markets stay compliant with local KYC and AML regulations while preventing fraud.
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.
Alloy CRO, Laura Spiekerman, writes about how infrastructure providers can help fintech companies address fraud and other common fintech pain points.
Alloy is expanding internationally with the backing of several new data sources and coverage for 40 countries across EMEA, APAC, and LATAM regions.
Alloy is working with our data partners to help our clients respond appropriately and quickly to the new sanctions against Russia. Here are our answers to two questions you may be asking yourself to make sure you're staying compliant.
Alloy is your command center for identity, giving you an easy-to-use dashboard that covers your compliance, KYC and fraud-fighting needs.
