NewTech Friday: Alloy – Offering a full identity decisioning platform

Edwina Johnson is Head of Global at US fintech Alloy. She tells Qorus about the company and how they help banks and fintechs make safe and seamless fraud, credit and compliance decisions.

What led to the creation of Alloy?

Back in 2015, when Tommy, Laura, and Charles first met while working at an ACH payments startup, they saw how difficult it was to launch financial products, specifically when it came to onboarding new customers. To prevent fraud and be compliant, companies had to identify and integrate individual data vendors — a costly process that took time away from engineers trying to focus on developing core product offerings. 

As they did more research, Tommy, Laura, and Charles realized that implementing risk solutions was a pain point for many banks and fintechs who wanted to offer superb customer experiences while also defending against fraud attacks. Alloy was born from the desire to make both of those two outcomes possible

Seven years of hard work later, the current Alloy platform provides a single, easy-to-manage platform for financial companies to run KYC, AML, fraud and credit checks (and more). We do this by providing an API that connects to over 170 data sources, allowing clients to create custom processes tailored to precise fraud and risk outcomes.