The collaboration allows Flagstone to process new applications within seconds while maintaining compliance and security standards. By leveraging Alloy’s identity and fraud prevention technology, Flagstone integrates global data sources into a unified system, enhancing Know Your Customer (KYC) controls.
According to Alloy data, financial crime continues to pose a significant challenge in the UK, with an estimated GBP 1.1 trillion lost annually. The increasing use of AI-driven fraud, including deep fakes and organised crime tactics, has intensified the need for robust security measures.
Traditional onboarding processes, often slow and reliant on manual verification, can deter customers while exposing firms to financial crime risks. The integration of Alloy’s technology allows Flagstone to reduce friction in the onboarding process while ensuring compliance with regulatory obligations.
A representative from Flagstone stated that the partnership with Alloy aligns with the company’s goal of using a data-driven approach to enhance user experience while maintaining compliance. By digitising anti-money laundering (AML) and KYC procedures, the company has improved onboarding speed without compromising security. According to the official, the faster onboarding process benefits customers and financial institution partners alike.
An Alloy representative highlighted that the partnership ensures a secure and seamless experience for customers while maintaining regulatory compliance. The official noted that financial institutions must balance security with user experience, and Alloy’s platform enables companies such as Flagstone to achieve this without unnecessary delays.
Flagstone, founded in 2013, currently manages approximately GBP 16 billion in customer assets across individual, business, and charity accounts. The company also provides savings solutions for over 1,000 financial services firms through API integrations and partnerships.
Alloy, established in 2015, provides identity and fraud prevention solutions to fintech firms globally. Its platform supports financial institutions in managing compliance and security risks while scaling their operations. The company's technology enables fintech businesses to verify identities, launch new products, and maintain regulatory trust.
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