NEW YORK, March 22, 2022 -- Alloy, the leading identity decisioning platform for banks and fintech companies, today announced its partnership with Prove, a leading phone-centric digital identity provider, to enable financial institutions to verify and authenticate their customers.
Alloy's identity decisioning platform brings the many pieces of digital identity into a centralized platform, working across more than 120 data sources to enable banks and fintech companies to make better risk decisions by seeing beyond an address or social security number. Through Alloy's various partners and the data they provide, the company’s best-in-class KYC and fraud detection capabilities enable clients to verify identities, prevent fraud, monitor transactions, and power credit underwriting.
By integrating with Prove and adding its phone-centric identity solutions, Alloy’s clients will be able to enhance their new customer onboarding and existing client engagement in a frictionless, fast and secure way. With Prove's Pre-Fill™ onboarding solution, clients can expedite customer account openings while also mitigating account opening fraud. The Pre-Fill solution auto-fills online applications with verified consumer information from authoritative sources, ultimately improving the customer experience by saving time while simultaneously reducing risk and fraud. The integration will also enable clients to verify individuals using Prove's Identity™ solution (with optional KYC included) separately if needed.
“Today’s financial services customers value security and customer experience equally, and they are rightfully unwilling to sacrifice one for the other,” said Tim Brown, Head of Product, Prove. “Prove is developing and innovating our solutions to accelerate onboarding and enhance security while delivering on compliance and ultimately, preventing fraud. We're thrilled to partner with Alloy to implement phone-centric identity tools because together, we're providing our clients with easier onboarding solutions that will, in turn, create an overall better experience for their end customers.”
Alloy clients or prospects that already depend on Prove for onboarding and identity needs can now incorporate the Prove solutions into their current Alloy environment and will be able to leverage white-labeled UX for Prove’s Pre-Fill™ Solution and Mobile Auth™ API in the near future.
"We are excited about our new partnership with Prove," said Brian Bender, VP of Strategic Alliances at Alloy. "It is our goal to help our clients continuously improve and secure their customer's onboarding experience. We do this through integrating best-in-class data sources that improve those workflows. Prove's KYC and AML checks and Pre-Fill solutions exemplify that."
As the command center for all-things identity, Alloy’s mission is to help financial companies deploy safe and seamless digital experiences. Alloy is committed to eliminating manual processes and making life easier for clients while providing a holistic picture of a person’s digital identity. The partnership with Prove is a natural extension of this mission, as both companies are equally as passionate about creating the best customer experience possible.
Alloy is the command center for identity that covers your compliance and fraud-fighting needs. Our identity decisioning platform connects you to more than 120 data sources to help you verify identities, monitor transactions, and make credit decisions - giving you a holistic view of each customer from the day they onboard and throughout their time with your organization. From automatic decisions and fewer manual reviews to smooth onboarding, Alloy is how smart banks and fintech companies like Ally Bank, Aspiration, and Brex take a closer look at the whole picture. Learn more at Alloy.com and on Twitter @UseAlloy.
As the world moves to a mobile-first economy, businesses need to modernize how they acquire, engage with and enable consumers. Prove’s phone-centric identity tokenization and passive cryptographic authentication solutions reduce friction, enhance security and privacy across all digital channels, and accelerate revenues while reducing operating expenses and fraud losses. Over 1,000 enterprise customers use Prove’s platform to process 20 billion customer requests annually across industries, including banking, lending, healthcare, gaming, crypto, e-commerce, marketplaces, and payments. For the latest updates from Prove, follow us on LinkedIn.
N6A on behalf of Alloy
ICR on behalf of Prove
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