Companies
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Alloy
Fintech
Alloy is a New York-based identity verification and fraud prevention platform that helps banks and fintech companies onboard customers and monitor for fraud.
$1.51B
+$19.62
2,114.21%
30 days ago
$0.93
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Alloy was founded in 2015 by Tommy Nicholas, Charles Hearn, and Laura Spiekerman, who had worked together at an earlier fintech lending startup and experienced firsthand how fragmented and manually intensive the process of verifying a new customer's identity was for banks and financial technology companies, which often needed to stitch together data from multiple credit bureaus, government databases, and fraud-data vendors just to make a single account-opening decision. Alloy's platform acts as an orchestration layer that connects to dozens of these underlying identity, credit, and fraud data sources through a single integration, letting banks and fintechs configure automated decisioning rules for account opening, ongoing transaction monitoring, and fraud detection without needing to build and maintain separate integrations with each individual data vendor themselves. This orchestration model has made Alloy particularly relevant to the banking-as-a-service wave, in which fintech companies partner with chartered banks to offer financial products, since both the fintech and its underlying bank partner typically need compliant, auditable identity verification and fraud monitoring processes that support identity-verification, fraud-monitoring, and compliance workflows.” Alloy's customers span both large traditional banks looking to modernize legacy onboarding processes and newer fintech companies and neobanks that need compliant infrastructure from day one. The company has raised substantial venture funding from investors including Lightspeed Venture Partners, Canapi Ventures, and Bessemer Venture Partners, reaching unicorn status, and it competes with other identity verification and fraud platforms including Socure, Persona, and Plaid's identity-adjacent products, as regulatory scrutiny of fintech partner-bank relationships has increased.
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