Alloy’s Identity Decisioning Platform helps banks and fintech companies to make smarter and faster decisions about the risk profile of each customer and keep them safe from financial crime. The platform connects to more than 170 data sources, enabling financial institutions to automate customer approval and account opening, and monitor transactions in real time.
Fraud is a more serious threat than ever before: 91% of financial institutions said that fraud has increased year-on-year, and 71% increased their spending on fraud prevention, according to recent Alloy data. In the UK alone, bank fraud cost consumers almost GBP 610 million in the first half of 2022.
With Alloy, clients see an average 48% reduction in fraud. UK fintechs now have access to the company’s full product range, enabling them to stay ahead of regulatory requirements and scale their operations with ease.
Since Alloy was founded in 2015, the company has helped more than 350 of North America’s banks and fintech startups prevent fraud and financial crime, including Carta, Ramp, and Brex. Alloy has raised over USD 210 million to date, reaching a USD 1.55 billion valuation, and in 2021 announced its expansion into 40 new countries. The company has doubled down on its commitment to EMEA by establishing a physical presence in London, one of its first local sites outside the US.
Company officials stated that for financial institutions to remain competitive in today’s market, cross-border functionality is no longer a major advantage - it’s a must. Fintech startups are now building with a global mindset from day one, and looking for technology partners who can scale with them, adapting to their changing business needs, appetite for risk, and compliance requirements.
Alloy helps over 350 banks and fintech companies make safe and seamless fraud, credit, and compliance decisions. Founded in 2015 and backed by leading investors from Lightspeed Venture Partners, Bessemer Venture Partners, and Canapi Ventures, Alloy’s platform connects companies to more than 170 data sources of KYC/KYB, AML, credit, and compliance data through a single API to help create a future without fraud.
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