Alloy offers identity verification and compliance solutions for financial institutions like banks and fintech companies. Their platform integrates with various data sources to help clients meet regulatory requirements such as KYC and AML, reducing fraud and improving customer onboarding. Alloy stands out by using machine learning and artificial intelligence to enhance the efficiency of identity verification. The company aims to provide essential tools that help financial institutions navigate regulatory challenges while improving their operations.

BEV Capital

Correlation Ventures

Eniac Ventures

Clocktower Technology Ventures

Primary Venture Partners

AGO Partners

Bessemer Venture Partners

Avid Ventures

Canapi

Felicis

Lightspeed Venture Partners

Avenir Growth Capital

Fintech

AI & Machine Learning

Alloy

Recent news of a16z-backed fintech startup closing doors after failing to find a buyer proves just how tough is current environment for fintech startups. The fintech landscape got crowded, and startups have to work that much harder to stand out from the crowd.According to Crunchbase data, global venture funding in Q3 2024 decreased by 16% compared to the previous quarter and 15% in a year-over-year perspective. If this trend holds, in 2025, fintech founders are likely going to face even greater challenges when competing for investments. Success will hinge on more than just launching good products or having reasonable roadmaps; businesses will have to put more effort into adopting communication strategies that resonate with investors and consumers and position them in a favourable light.How can that be done, you might ask? Well, let’s take a look at some practical examples.1. Personalisation and founder-focused brandingInvestors today look beyond just your product offering; they want to understand the people behind the project. Given the ongoing economic turmoil, they must be careful about choosing where to put their money, and a compelling founder story can make all the difference when trying to secure funding

Money Talks, But Do You? Communication Lessons For Fintech Founders

Company Hosts Awards Live for First TimeSCOTTSDALE, Ariz., Dec. 31, 2024 /PRNewswire/ -- Cornerstone Advisors, a leading management and technology consultancy for banks, credit unions and fintech firms, has announced its 24th Annual GonzoBanker Awards, the company's iconic tribute to notable people, companies, technologies and deals in the banking and fintech industries.According to Steve Williams, Cornerstone CEO, banks and credit unions demonstrated remarkable performance this year in the face of accelerating complexity on many fronts, not the least of which was a difficult economic environment. "We salute the 'troublemakers' in the industry who balanced fundamental and complex challenges while continuing to improve customers' financial lives," said Williams.Award categories included the Smarter Banks Awards, designed to celebrate extraordinary financial institutions that have modernized their businesses and grown in focused and strategic ways. These included:The Smarter Bank Hyper-Efficient Award , recognizing groundbreaking efficiency driven by digital self-service, process automation and artificial intelligence, went to Space Coast Credit Union in Melbourne, Fla. Under the leadership of CEO Tim Antonition , the credit union has demonstrated how leaning into new approaches to efficiency can yield a 2.5% non-interest expense/asset ratio in a full-service community credit union.digital self-service, process automation and artificial intelligence, went to Space Coast Credit Union in Under the leadership of CEO , the credit union has demonstrated how leaning into new approaches to efficiency can yield a 2.5% non-interest expense/asset ratio in a full-service community credit union. The Smarter Bank Differentiated Award , recognizing institutions that forge distinct competitive positions and segmented brands, went to CEO Ken Vecchione and the team at Western Alliance Bancorporation

Cornerstone Advisors Announces 2024 Gonzobanker Award Winners

LONDON, Nov. 21, 2024 /PRNewswire/ -- 10x Banking, the cloud-native core banking platform, has partnered with Alloy, a leading identity and fraud prevention platform, to deliver a next-generation customer onboarding, perpetual KYC and KYB monitoring, and credit decisioning platform for financial institutions globally. The partnership combines 10x's pioneering meta core platform with Alloy's leading solutions for managing identity risk throughout the customer lifecycle. 10x's solution powers major financial institutions globally, including Chase UK and Westpac, and provides banks with the fastest, most cost-effective path to cloud-native transformation. Alloy's platform is trusted by over 600 of the world's most prominent financial institutions and fintechs, including Sonovate, Liberis, Ent Credit Union, Shopify, and Clear Street. Alloy has pre-built integrations to one of the broadest networks of data products in the industry, with over 200 fraud, compliance, and identity data sources including Onfido, ComplyAdvantage, GBG and others covering 195 markets worldwide. On top of this, Alloy leverages its data orchestration capabilities to synthesise all of the data points and automate decision-making for clients, allowing clients to better solve for fraud, credit, and compliance risk, and grow with confidence

10X Banking And Alloy Partner To Bring Cloud-Native Risk Decisioning To Financial Services

Zest Protect helps lenders decision loans more confidently with accurate, holistic application fraud detectionLOS ANGELES, Aug. 7, 2024 /PRNewswire/ -- Zest AI , the leader in AI lending technology, today announced its new fraud detection solution, Zest Protect. Zest Protect quickly and accurately identifies fraudulent activity during the loan decisioning process, helping credit unions, banks and other lenders navigate the rising application fraud environment while safeguarding the borrower experience.The Federal Trade Commission estimates that consumer fraud losses in 2023 exceeded $10 billion while credit unions and community banks reported a 69% surge in fraud cases across consumer accounts."Lenders need to outsmart fraud, including an increasing volume of AI-driven fraud in the industry, with AI," said Adam Kleinman, Head of Strategy and Client Success at Zest AI. "Our team designed Zest Protect to create an efficient tool that can more accurately detect all types of fraud now and in the future, including AI-created fraud, with the ultimate goal of boosting lending confidence for our bank and credit union customers."Zest Protect leverages Zest AI's proven, industry-leading machine learning technology to instantly detect first party and third party fraud, as well as flag income inconsistencies within the automated loan decisioning process. This integrated solution empowers lenders to take control of their fraud risk, allowing them to adjust specific detection thresholds based on their risk tolerances and automation objectives. With access to fraud prevention data and analytics, Zest AI can flag applications swiftly, and protect against emerging threats."Capturing application fraud, especially more sophisticated AI-powered fraud, without compromising the member experience is a top priority for us," said Gather Federal Credit Union's EVP, Justin Ganadan

Zest Ai Debuts Ai-Powered Fraud Detection For Lenders

Jimini Health, an AI-supported mental health therapy platform, has raised $8M in Seed funding. Investors include BoxGroup, City Light Capital, Zetta Venture Partners, LionBird, SCB 10X, Arkitekt Ventures, and PsyMed Ventures. Founded by Luis Voloch, Mark Jacobstein, and Sahil Sud in 2023, this funding marks a significant milestone for the company.

Jimini Health raises $8M Seed funding

Mirela Ciobanu, Lead Editor with The Paypers, explains how verifiable credentials, reusable identity verification solutions, AI, and fraud insurance tech can address challenges in fraud prevention, data privacy, security, and regulatory compliance. ‘Man, it seems crazy that we’re doing all kinds of unbelievable things with science and technology and yet, the best way to prove who I am on the Internet is to take a photograph of my government-issued document and a selfie.’ Riley Hughes, the CEO and Co-founder of Trinsic. ‘Despite investing in various fraud prevention and compliance solutions tools, businesses are still shouldering the burden of lost liability for fraud on their own balance sheets.’ Sunil Madhu, Founder  CEO of Instnt

A Better Future For Identity And Kyc – What'S New In Digital Onboarding In 2024

Security threats are evolving at a rapid rate. The enduring questions are whether banks and FIs can outpace and counteract the tactics of fraudsters while fulfilling the growing consumer expectations for innovative security and convenience.Balancing the push and pull between innovating digital banking services and enforcing stringent security measures is a daunting challenge for banks and FIs. Achieving equilibrium, however, is crucial for preserving a competitive edge while maintaining consumer trust.Economic shock waves from fraud lead to a costly cycle, compelling banks and FIs to redirect resources from innovation to immediate threat mitigation. This redirection stalls critical innovation agendas, with profound implications for the financial industry.Register for Unlimited Access Fill in the form below for free unlimited access to all our Trackers and Studies.Digital transformation continues to fundamentally reshape the financial industry, promising unparalleled convenience through advancements such as artificial intelligence (AI), open banking and real-time payments. It also opens doors to both emerging and evolving types of fraud. Indeed, delivering the seamless, innovative digital banking experiences consumers demand is challenging enough, but banks and financial institutions (FIs) must also tackle the vulnerabilities introduced by the very technologies that enable these experiences

Progress And Protection: Balancing Convenience And Security In Digital Banking

Alloy, a menopause care telehealth platform, has raised $16M in Series A funding led by Kairos HQ.

The AlleyWatch Startup Daily Funding Report: 11/19/2024

Q2 Holdings Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for financial services, today announced a strategic partnership with Alloy, a leading identity and fraud prevention platform provider, to deliver a joint ongoing fraud monitoring solution for Q2 Digital Banking customers. Powered by Alloy’s centralized identity decision engine for fraud detection and prevention, this new solution addresses the growing need for financial institutions to take control of their fraud monitoring efforts while maintaining an engaging user experience and growing their business.Through this partnership, Q2 and Alloy will deliver a solution that addresses ongoing fraud risks, such as account takeover and peer-to-peer (P2P) payment fraud, that continuously threaten financial institutions. According to Alloy’s upcoming 2025 State of Fraud Benchmark Report one in three financial institutions lost over $1 million to fraud last year. Additionally, account takeover fraud was the most common fraud type by case volume identified by mid-market banks and credit unions in 2024.“The joint solution Q2 and Alloy are offering will go a long way towards enabling financial institutions to prevent fraud without hindering customer experiences, which is a very difficult thing to do,” said Matt Quale, President of Digital Banking at Forbright Bank. “I’m excited about this partnership’s ability to facilitate business growth and mitigate fraud losses for banks and credit unions.”Alloy will serve as the centralized identity decision engine, integrating Q2’s digital banking data, Q2 Innovation Studio, and Alloy’s robust data partner network to help financial institutions prevent more fraud

Q2 Announces New Partnership With Alloy To Deliver Joint Fraud Monitoring Solution For Banks And Credit Unions

Through this partnership with Alloy, Narmi will be able to offer financial institutions a complete view of customer risk across the entire lifecycle, creating a full picture that combines onboarding data with ongoing customer activity monitoring.

Narmi Strengthens Alloy Partnership with Advanced Ongoing Fraud Monitoring for Digital Banking Clients

Alloy, the identity risk management company behind nearly 600 leading banks and fintech companies, today announced Alloy for Embedded Finance, a new product custom-designed for sponsor banks, BaaS providers, and their fintech partners to collaboratively manage identity risk and stay ahead of regulatory requirements.Oftentimes, sponsor banks have not had sufficient oversight or control over whether their fintech partners have adhered to the banks’ government-mandated compliance requirements. Alternatively, in models where sponsor banks have taken on all compliance responsibilities, they have often forced their fintech partners into a one-size-fits-all approach to compliance that doesn’t suit fintechs’ evolving risk needs and often adds unnecessary friction to their user experiences.Alloy for Embedded Finance solves these challenges. The new product leverages the strength of Alloy’s existing platform while introducing a new parent/child account configuration. Sponsor banks (or ‘parent accounts’) have the ability to designate different levels of autonomy and guardrails for each of their fintech partners (or ‘child accounts’), depending on how mature the fintech is, how much of the process the fintech wishes to own, and the risk appetites of both parties. With this construct, sponsor banks can seamlessly build compliance policies, then issue and enforce them to each of their fintech partners all at once. More mature or ‘autonomous’ fintechs can customize their controls on top of these baseline policies, giving them the flexibility to tailor risk measures that don’t add unnecessary friction for end users

Alloy For Embedded Finance Launches For Banks And Fintechs To Collaboratively Manage Identity And Compliance Risk

Identity verification and compliance solutions for fintech

Alloy

Identity verification and compliance solutions for fintech

Alloy

Identity verification and compliance solutions for fintech

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