ID Analytics, a leader in consumer risk management, and Alloy, the platform helping the financial services industry make data-driven customer decisions, announced a partnership to help financial services companies more effectively mitigate risk and fight fraud.
Alloy will use insights from the ID Analytics’ ID Network to provide its customers with additional insight to help them better authenticate consumers’ identities. The addition of data from ID Analytics’ ID Network will help Alloy customers mitigate risk during customer onboarding.
Over the last 15 years, contributions from ID Analytics’ client base have built the ID Network into a unique cross-industry repository of near real-time consumer information, which provides a comprehensive perspective on identity. The ID Network receives more than 100 million new identity elements every day from market leaders in nearly 20 industries, and contains over 4.2 million confirmed frauds, making it a powerful repository of information for fraud detection.
“This partnership enables us to extend the insights of the ID Network to more financial services organizations of all sizes,” said Gavin Sollinger, vice president, business development, ID Analytics. “Our teams have already successfully worked together to provide integrated identity verification solutions to Alloy customers and we see tremendous opportunity to provide all Alloy customers with even more comprehensive insight into fraud and identity risk mitigation.”
“One of the biggest challenges facing financial institutions is identity verification,” said Tommy Nicholas, CEO of Alloy. “Our partnership with ID Analytics allows us to provide our customers with valuable cross-industry insights into consumer behavior. This granular visibility into identity risk helps our customers authenticate a higher percentage of consumers while efficiently managing fraud risk.”