Alloy

Alloy is an identity data orchestration platform that helps banks and fintechs with identity verification, anti-money laundering (AML) monitoring and fraud prevention. It offers customizable solutions for understanding customer identity across the entire customer lifecycle, so companies can offer financial products more efficiently and securely.

Alloy helps companies solve the identity risk problem by automating and managing onboarding, ongoing fraud and AML monitoring, and credit underwriting decisions. This means companies can improve onboarding, stop fraud and keep up with changing regulatory requirements.

The platform includes a number of features:

• Identity Verification: Automate digital identity verification, document verification and cross-border KYC, KYB and AML checks.
• Ongoing Monitoring: Combine onboarding data with account activity to build an evolving customer risk profile and take proactive fraud prevention and compliance actions.
• Fraud Prevention: Use step-up verifications and automated interdiction to stop fraud in real-time.
• Compliance Management: Manage regulatory requirements and stay compliant with out-of-the-box rules based on industry best practices.
• Credit Underwriting: Convert credit policies into workflows that incorporate credit bureau and alternative underwriting data for a more complete customer view.
• Embedded Finance: Optimize risk management for sponsor banks and fintechs in the embedded finance ecosystem.

Alloy taps into a network of more than 200 data sources, covering 195 markets around the world, so companies can easily integrate and customize their risk management. The platform also offers a wealth of resources, including guides on building digital banking strategies and scaling fraud prevention.

Alloy is designed to be easy to use and integrate, with codeless SDKs that let companies get up and running without needing a lot of engineering resources. The platform is also SOC2, Type 2-certified, which means it's got top-notch data protection.

Some examples of Alloy use cases include:

• Financial Product Development: Automate customer onboarding, monitor ongoing risks and make informed credit decisions.
• Fintech Risk Management: Manage KYC/AML and fraud processes to optimize customer conversions.
• Embedded Finance: Coordinate risk management between sponsor banks and fintechs.

Pricing isn't disclosed. For details, customers can visit the Alloy website and discuss their needs with the company. Alloy will then offer advice on implementation and pricing.

Published on July 17, 2024