Alloy

Excited to be recognized by Cornerstone Advisors as a Bank Technology of the Year at the 2024 #GonzoBanker awards! https://lnkd.in/gu62SzE6 Here's to stopping more fraud for banks, credit unions, and fintechs in 2025 🥂

Wishing everyone a happy holiday season from Alloy HQ! 🎁 Check out our open roles: https://lnkd.in/dK6tB2yf

Seeing a lot of 2025 predictions out there, so here’s my attempt to see into the crystal ball of next year 🔮 There’s been a lot of hype around generative AI’s applications for fraud prevention. In 2025, there will continue to be chatter around the role of genAI, both in preventing fraud and perpetrating it more efficiently. But next year, a lot of the overhyped promises will face delivery challenges while we continue to rely on real applications of machine learning to help FIs navigate new risks. These applications are far less buzzy, but have a greater impact on detecting fraud in real time and are evolving quickly! AI/ML will play a role in fraud prevention. However, relying solely on AI for fraud prevention is like using only one tool in a well-stocked toolkit. To that end, we’ll see more FIs focused on investing in solutions to centralize identity and fraud risk across their organizations in a layered defense so they can leverage all of the exciting innovation without constantly building new integrations. Those of us who build financial products will be focused on optimizing for agility because that's what it takes to solve fraud!

Fraud has evolved in new and sophisticated ways this year, driven by things like AI, data breaches, and an increase in synthetic identities. 🤖 Coming in the new year, our 2025 State of Fraud Report will examine how banks, credit unions, and fintechs are coping with current fraud trends, including what tools have enabled them to successfully fight back against bad actors. Sign up now for priority access to the report when it launches in the new year: https://lnkd.in/dsrX8KZ6

Want to transform your bank for the future? Join us at #AOBA25 to learn how to expand your addressable market & how to place bets on new lines of business. Register today! https://lnkd.in/gnawcm3h Joshua Jordan -- Jack Henry Robert Keil -- FinWise Bank Sara Seguin -- Alloy Kiah Lau Haslett

🎁 As the holiday season kicks into high gear, so does fraud. Every year, fraud events tend to spike during the busiest shopping months (by 15–30% according to a report from Forter). Why? Skyrocketing transaction volumes, shoppers rushing for deals, and bad actors exploiting vulnerabilities in both consumer behavior and business operations. These attacks don’t just hit the bottom line; every fraud event is a hit to customer trust. The good news? Many FIs today already have the tools you need to weather the storm. And many are: Our partners at TransUnion reported that this year only 4.6% of global e-commerce transactions were flagged as suspicious during the “Cyber Five” period, compared to 6.0% during last year’s period. My tip: Stay vigilant! Strengthen your fraud controls by prioritizing customer identity verification. Use tools like multi-factor authentication, behavioral biometrics, and document checks to prevent new account fraud and account takeovers before fraud occurs.

With 4,500 employees and over $31 billion in assets, FNBO must address a variety of fraud risks in order to keep their customers’ assets safe. 💪 In the latest edition of our Risky Business video series, FNBO Head of Bank Operations and Risk Management Jessica Dennis shares how the bank evaluates various types of risk across every facet of the organization—including product and campaign launches—and determines the appropriate response. https://lnkd.in/eNkbjW9s

Fraudsters are always looking for new ways to keep banks and fintechs on their toes. So, how do you stay ahead of the game? The key is to understand the enemy. 🔍 Learn the most common forms of financial fraud in our guide to fraud types. ⬇️ https://lnkd.in/eteUqSdP

🎤 Our fraud and identity advisor Sara Seguin joined Rachel Koning Beals on the BAI Banking Strategies podcast to discuss the role of deepfakes and generative AI in fraud, and shared some tips for how banks can respond. Give it a listen! https://lnkd.in/ebJuAWvc

🚨 Fraud prevention + seamless onboarding = growth 🚀 Consumers Credit Union partnered with Alloy to transform their omnichannel onboarding and fraud prevention strategy. The results? ✅ 78% of onboarding decisions are now automated ✅ $5 saved in fraud losses for every $1 spent on Alloy ✅ 96% faster policy updates By streamlining processes and boosting security, Consumers is delivering better member experiences and achieving 12% loan growth year over year. Learn how they did it: https://lnkd.in/epbeKSip