Alloy and Mastercard Collaborate to Expedite User Enrollment Procedures
In a bid to address the reported 60% increase in fraud in 2024, as per Alloy's 2025 State of Fraud Report, Alloy, a St. Paul, Minnesota-based company, has partnered with Mastercard to launch a groundbreaking global enhanced customer onboarding solution.
The partnership aims to provide a better digital experience and less fraud risk for financial institutions and fintechs. Mastercard's EVP and Global Head of Identity, Dennis Gamiello, stated that the joint offering will be a significant step in reducing fraud and delivering a secure customer experience.
Alloy's holistic approach to understanding identity is emphasized in its partnership with Mastercard. The solution will utilize identity verification technology and open finance to provide a consistent identity risk strategy and onboarding experience.
Customers have access to over 200 risk and identity solutions via Alloy, designed to boost conversion rates, reduce manual reviews, and provide comprehensive end-to-end coverage. The new solution will leverage Mastercard's global digital identity verification capabilities and open finance-powered account opening solutions.
The joint offering aims to support financial institutions in managing fraud, identity risk, and secure account funding throughout the customer lifecycle. The report also revealed that 93% of financial organizations surveyed planned to invest in ongoing fraud prevention measures in 2025, with 64% of them planning to deploy identity risk technology.
Alloy was introduced to platform audiences at FinDEVr SiliconValley 2016 and returned to the platform stage six years later for our platformFall 2022 in New York. In June, Alloy announced a partnership with IG Group to help the FTSE 250 online trading firm maintain regulatory compliance as it grows.
Notably, Alloy was included in CNBC World's Top Fintech Companies roster for 2025. The new solution, seamlessly integrated and pre-configured in Alloy, is set to streamline onboarding and combat fraud for financial institutions and fintechs.
[Image Credit: Leo_Visions on Unsplash]
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