Anti-fraud platform Alloy says it has added artificial intelligence to its platform to improve fraud prevention while providing actionable information to financial services firms.
Founded in 2015, Alloy reports providing services to more than 600 of the world’s largest financial institutions, including Fintechs.
Alloy claims its service is better because it is not just a notification but also tells users how to respond.
Their “Fraud Attack Radar” is described as a notification service and action application in a single platform.
The companies in house research claims that 60% of financial institutions reported an increase in fraud events in 2024. They also claim that firms depend too much on transaction monitoring and not halting fraud before it occurs by detecting nefarious activity at the point of onboarding.