Alloy’s Identity Decisioning Platform helps banks and fintech companies to make smarter and faster decisions about the risk profile of each customer and keep them safe from financial crime. The platform connects to more than 170 data sources, enabling financial institutions to automate customer approval and account opening, and monitor transactions in real time.
The fraud landscape in the UK
Fraud is a more serious threat than ever before: 91% of financial institutions said that fraud has increased year-on-year, and 71% increased their spending on fraud prevention, according to recent Alloy data. In the UK alone, bank fraud cost consumers almost GBP 610 million in the first half of 2022.
With Alloy, clients see an average 48% reduction in fraud. UK fintechs now have access to the company’s full product range, enabling them to stay ahead of regulatory requirements and scale their operations with ease.
Since Alloy was founded…