Fraud attacks are scary, but they don't have to be devastating. With a clear fraud mitigation plan in place, banks, fintechs, and credit unions can effectively stop an attack and prevent similar ones from happening in the future. Learn three stages of fraud mitigation — triage, discovery, and remediation — so you'll be prepared to handle fraudsters when they strike. And remember: it's not a matter of if, but when. 🚨 Read the full guide here: https://lnkd.in/e5v4UdHK #fraudprevention #identityrisk #fintech
Alloy
Financial Services
New York, New York 16,231 followers
Alloy solves the identity risk problem for banks and fintech companies.
About us
Alloy is the only end-to-end identity risk management platform for companies that offer financial products. Beginning with origination and account opening, Alloy provides banks and fintechs with a scalable, flexible platform to manage identity risk throughout the customer lifecycle. With configurable solutions for fraud, credit and compliance risk, dedicated expert guidance and the industry’s most extensive ecosystem of data partners, Alloy helps companies deliver great financial products to more customers around the world. Nearly 500 companies trust Alloy to take control of fraud, credit, and compliance risk, and grow with the clearest picture of their customers.
- Website
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https://alloy.com
External link for Alloy
- Industry
- Financial Services
- Company size
- 201-500 employees
- Headquarters
- New York, New York
- Type
- Privately Held
- Founded
- 2015
Locations
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Primary
41 E 11th St
2nd Floor
New York, New York 10003, US
Employees at Alloy
Updates
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Alloy reposted this
The 2024 JAM FINTOP Summit is an invitation only event that will take place September 23rd-25th in Nashville. We are excited to welcome Alloy as a Gold Sponsor. Alloy will be helping to moderate our banker working group focused on fraud solutions for banks and fintechs. Look forward to seeing you in the Music City! Padraig Mageean Drew Simmons Kelly Mayes #banktech #fintech #banking
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We’re excited to announce that Kathryn Cook has joined Alloy as Chief Marketing Officer, bringing 15 years of marketing experience to the team, including the past nine years at nCino, a key Alloy partner. Kathryn joins us at a time of rapid growth for Alloy. In the last year we’ve: 📈 Added 200 new clients, including 12 of the top 50 U.S. banks 🤝 Deployed over 50 new data product integrations across more than 30 partners to help clients stay ahead of the pace of fraud 🇬🇧 Expanded presence in the U.K. with triple-digit revenue growth since launching there in 2022 ⚙️ Achieved double-digit growth from newly launched solutions including Ongoing Fraud Monitoring and Alloy for Embedded Finance And we’re just getting started! Read more about the news: https://lnkd.in/e4_Wu4n2
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Alloy reposted this
Such an inspiring day last week at Alloy's annual hackathon and having the chance to judge alongside Charley Ma and Kathryn Cook. The company has grown a ton since we at Bessemer Venture Partners first invested, but the serious innovation (and laughs) continue! The team is cooking up some incredible stuff to help their customers stay a few steps ahead of those fraudsters. Check out their open roles here: https://lnkd.in/eYSMVUds
Last week, 18 teams across Alloy presented their projects for our sixth annual company hackathon, Gumption Days! Over the past several years, many of our best products have started as hackathon projects, including what-if analysis, new account setup, and Alloy for Embedded Finance (https://lnkd.in/efYzgJfe.) This year, our teams spent the week building projects to drive value and increase efficiency, productivity and better experiences for both our customers and internal teams. From tools that will help clients streamline fraud prevention workflows, to enhancements to Alloy’s product release process, to AI assistants to help employees better access internal company knowledge, our teams really brought the fire 🔥 this year. Congratulations to this year’s winners and a massive thank you to our judges: Charles Birnbaum, Kathryn Cook, and Charley Ma; and to everyone at Alloy who participated and innovated this week during Gumption Days 2024!
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When it comes to embedded finance, sponsor banks have a wide variety of partnerships. For example, it’s not unusual for a sponsor bank to partner with both a fintech offering custom business debit cards and a non-financial end-brand — like an insurance company offering high-yield savings accounts. But how does the sponsor bank account for the distinct fraud vulnerabilities of these channels and set baseline fraud prevention requirements that suit both relationships’ needs, different as they may be? 🤔 Alloy for Embedded Finance has launched. And it just might be the answer. 🚀 https://lnkd.in/eNMgc3r2
Fraud Prevention for Embedded Finance Products
alloy.com
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Alloy reposted this
What are the key differences between fraud prevention and regulatory compliance during customer onboarding? Join me each day next week as I share highlights from my conversation with Tommy Nicholas, CEO of Alloy, exploring compliance, fraud prevention, and risk appetite. Eager to see the rest of the highlights? Check out our Video Series: Understanding Customer Onboarding with Tommy Nicholas from Alloy and Natasha Vernier from Cable (link in comments). #Fintech #Banking #Regulations #fintechinsights #fraudprevention #FutureOfFintech
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Last week, 18 teams across Alloy presented their projects for our sixth annual company hackathon, Gumption Days! Over the past several years, many of our best products have started as hackathon projects, including what-if analysis, new account setup, and Alloy for Embedded Finance (https://lnkd.in/efYzgJfe.) This year, our teams spent the week building projects to drive value and increase efficiency, productivity and better experiences for both our customers and internal teams. From tools that will help clients streamline fraud prevention workflows, to enhancements to Alloy’s product release process, to AI assistants to help employees better access internal company knowledge, our teams really brought the fire 🔥 this year. Congratulations to this year’s winners and a massive thank you to our judges: Charles Birnbaum, Kathryn Cook, and Charley Ma; and to everyone at Alloy who participated and innovated this week during Gumption Days 2024!
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Long before the bank failures of 2008, 14th-century Florentine bankers witnessed economic disaster. 📉 In the 1300s, King Edward III of England borrowed 1.5 million gold florins from the Bardi and the Peruzzi banking families. But, in a catastrophic example of what could arguably be considered a form of early bust-out fraud, Edward III never repaid his debts. The result was the downfall of both family banks — and what some historians consider to be the worst financial collapse in history. The story of banking’s evolution is also about the evolution of risk management. Our latest blog post explores how banking strategies informed by fraud risk have brought about major economic changes throughout history: from the shift away from paper currency in 1455 China to the present-day adoption of omnichannel fraud prevention strategies. Check it out.👇🏦⚔️ https://lnkd.in/eymNZFK5 #BankingEvolution #BankingHistory
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According to the Federal Reserve, synthetic identity fraud is the fastest-growing financial crime in the U.S. As a bank, credit union, or fintech navigating this landscape, implementing advanced fraud detection measures is crucial. A well-designed identity risk management system should include synthetic-specific fraud modules, behavioral analytics, and machine learning models designed to spot synthetic identities at onboarding. Protect your institution from potential losses, enhance risk decisioning, and drive growth with Alloy. We’ll help you stop synthetic identity fraud at origination, and monitor risk throughout the customer lifecycle. https://lnkd.in/eA8QJ7A7
Synthetic identities: why fraudsters need imaginary friends
alloy.com
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Check fraud is a growing concern in the US. But in the UK? Not so much. In fact, it did not even register as a common type of fraud for UK respondents in Alloy’s Annual State of Fraud Benchmark Report. What is responsible for this stark contrast between the two countries? Two key factors: Faster adoption of digital payment methods, which led to an overall shift in the cultural attitude towards paper checks. https://lnkd.in/e6hieDpT
Differences Between US and UK Check Fraud
alloy.com