Sells banks, credit unions and fintechs a SaaS identity and fraud prevention platform that orchestrates more than 270 third-party data solutions behind one API, adding its own machine-learning models and, since 2026, an agentic AI Assistant for risk and compliance reviews.
What is Alloy, and which banks use it?
Alloy, founded 2015 in New York, is a private identity and fraud prevention platform for banks, credit unions and fintechs, last valued at $1.55 billion (2022) with Lightspeed, Canapi and Bessemer among its backers. It says more than 900 institutions use it (July 2026). Among our 100 banks, Alloy names Ally Bank and Banc of California as clients, and nCino said Eastern Bank's lending rollout will use Alloy for fraud and identity decisioning. Pricing is not published; Alloy sells through demo-led enterprise contracts.
Category
Founded
2015
Headquarters
New York, New York, US
Ownership
Private; backed by Lightspeed Venture Partners (led the 2021 Series C and its 2022 extension), Avenir Growth, Canapi Ventures (led the 2020 Series B), Bessemer Venture Partners (led the 2019 Series A), Avid Ventures and Felicis Ventures. Last disclosed valuation: $1.55 billion after an additional $52 million in September 2022; no later round has been announced.[14][13][12][11]
Deployment
SaaS (single API, SDK and no-code dashboard; hosted on AWS)
Pricing
Sales-led enterprise platform contracts; bought through a demo and quote process · not published
Banks among the 100
3
- Founded in 2015 and based in New York, with an office in London; Tommy Nicholas is co-founder and CEO.
- Raised a $12 million Series A (Bessemer, September 2019), a $40 million Series B (Canapi, September 2020), a $100 million Series C at a $1.35 billion valuation (Lightspeed, September 2021) and an additional $52 million in September 2022 that took its valuation to $1.55 billion; no funding round has been announced since.
- Alloy says more than 900 financial institutions and fintechs use its platform (July 2026), up from over 800 in its February 2026 releases and over 600 in February 2025 (vendor-reported).
- Alloy's own company-information page says it partners with 7 of the top 25 US banks and 6 of the top 10 credit unions, and lists U.S. Bank and M&T Bank among clients without describing what they use it for.
- In 2026 Alloy launched an agentic AI Assistant for risk and compliance reviews (February), perpetual KYB for the UK and Europe (January), and data partnerships with Plaid (April) and Certos from Early Warning Services (May).
- Suncoast Credit Union, Florida's largest credit union, is Alloy's most detailed public case: Alloy says Suncoast cut fraud losses by over 35% from 2023 to 2024 and auto-decisions 98% of logins with its risk-based authentication (vendor-reported).
- Pricing is not published; Alloy's site routes buyers to a demo request and has no pricing page.
What does Alloy sell to banks?
| Product | What it does | Status |
|---|---|---|
| Identity and fraud prevention platform (onboarding and account opening)[1][12] | KYC/KYB, CIP, document verification and fraud decisioning at account opening, orchestrating third-party identity and fraud data sources through one API and no-code policy configuration. | Generally available |
| Transaction monitoring and AML[1][13] | Real-time transaction risk scoring, behavioral and AML monitoring, sanctions screening and case management across the customer lifecycle. | Generally available |
| Risk-based authentication[2][7] | Continuous login and session risk assessment that carries onboarding signals forward and applies step-up verification in proportion to risk. | Generally available |
| AI Assistant (Actionable AI)[3][2] | Agentic AI embedded in Alloy's decisioning engine that reviews fraud, KYC/KYB, AML and watchlist cases and recommends a decision a human approves or configures to accept automatically; launched February 23, 2026. | Generally available |
| Fraud Attack Radar and Fraud Signal[9][3] | Fraud Attack Radar (launched March 2025) alerts clients in real time to coordinated attacks on account opening; Fraud Signal is Alloy's predictive machine-learning model for fraud across the customer lifecycle. | Generally available |
| Perpetual KYC and KYB (UK and Europe)[4] | Event-driven re-verification of consumers (pKYC, autumn 2025) and business customers with customer risk assessment (pKYB/CRA, January 2026) for UK and European institutions. | Generally available |
| Credit underwriting and decisioning[1] | Credit bureau, cash-flow and alternative-data orchestration with automated decision rules for consumer and commercial lending. | Generally available |
How much does Alloy cost?
How it is charged: Sales-led enterprise platform contracts; bought through a demo and quote process.
Alloy does not publish a price list.
Pricing is not published; alloy.com has no pricing page and directs buyers to schedule a demo. Alloy's company-information page mentions a partner Testing Program with free or complimentary data calls for trials, but gives no platform prices.
Which banks use Alloy?
| Bank | What | Status |
|---|---|---|
| Ally Financial | Identity and fraud decisioning through Alloy's single-API platform; Alloy has named Ally Bank as a client in releases from 2020, 2022 and 2025.[14][12][10] | In production |
| Banc of California | Customer onboarding across business segments; Alloy quotes Banc of California's SVP head of product and innovation on using its platform.[1] | In production |
| Eastern Bankshares | Fraud and identity decisioning in Eastern Bank's nCino consumer and mortgage lending rollout, per nCino's November 2025 release.[15] | Announced |
Among the 100 largest US banks on this site, from sources that name the bank: the bank, Alloy or the press. Status is the furthest stage a source confirms.
What is Alloy identity and fraud prevention platform?
A decisioning and orchestration engine that combines identity verification, fraud detection, credit decisioning and compliance checks (KYC/KYB, sanctions screening, transaction monitoring) in one configurable system, drawing on a network of more than 270 partner data solutions and Alloy's Actionable AI suite (AI Assistant, Fraud Attack Radar, Fraud Signal).[1][2]
What has Alloy done, and when?
- Jul 15, 2026
Reports more than 900 customers[2]
Alloy said more than 900 financial institutions and fintechs used its platform and that it had brought agentic AI into production in the first half of 2026.
- May 18, 2026
Suncoast Credit Union case published[7]
Alloy said Suncoast Credit Union reduced fraud losses by over 35% from 2023 to 2024 after deploying Alloy at onboarding and expanding into login monitoring.
- May 13, 2026
- Apr 2, 2026
Partners with Plaid[5]
Alloy added Plaid Protect's network fraud intelligence and Plaid's identity and asset verification tools to its partner network.
- Feb 23, 2026
Launches agentic AI Assistant[3]
Alloy launched an AI Assistant embedded in its decisioning engine to automate risk and compliance case reviews, with a human approving or pre-configuring automatic acceptance.
- Jan 21, 2026
Launches perpetual KYB in the UK and Europe[4]
Alloy launched perpetual KYB and customer risk assessment orchestration for UK and European institutions, following its European perpetual KYC launch in autumn 2025.
- Nov 6, 2025
Named in Eastern Bank's nCino lending rollout[15]
nCino said Eastern Bank's expansion to nCino consumer and mortgage lending would incorporate Alloy for fraud and identity decisioning across the bank's lending products.
- Mar 10, 2025
Launches Fraud Attack Radar[9]
Alloy launched Fraud Attack Radar, a machine-learning tool that alerts clients in real time to suspected fraud attacks on new-account creation.
- Feb 25, 2025
Scales decisioning to 8 billion events a month on AWS[10]
Alloy said its platform could decision more than eight billion financial events per month, that it had added nearly 200 clients in a year, and that it worked with 25% of the top 50 US banks, including a top-five bank.
- Sep 1, 2022
Additional $52 million lifts valuation to $1.55 billion[14]
Lightspeed and Avenir Growth led an additional $52 million; Alloy said revenue had more than doubled over 12 months and that it processed over a million decisions daily for clients including Ally Bank.
- Sep 30, 2021
$100 million Series C at a $1.35 billion valuation[13]
Lightspeed Venture Partners led a $100 million Series C, bringing total funding to over $150 million; Alloy said its platform had grown from onboarding decisions to include transaction monitoring.
- Sep 16, 2020
$40 million Series B led by Canapi Ventures[12]
Canapi Ventures led a $40 million Series B with Felicis and Avid Ventures; Alloy said it served over 90 customers, including Ally Bank, Evolve Bank & Trust and Brex.
- Sep 17, 2019
$12 million Series A led by Bessemer[11]
Bessemer Venture Partners led a $12 million Series A with Eniac Ventures and Primary Venture Partners; Alloy said it had run over 2 million evaluations on its platform.
- Jan 1, 2015
What do banks use Alloy for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| Account-opening and lifecycle fraud decisioning[2][9][7] | Identity and fraud checks at onboarding, login risk scoring and step-up authentication, and alerts on coordinated attacks (Fraud Attack Radar). | In production | Fraud detection |
| KYC, KYB and AML compliance[1][4] | CIP/KYC and KYB verification, sanctions and watchlist screening, transaction monitoring and perpetual re-verification of existing customers. | In production | AML / KYC |
| AI Assistant for case reviews[3][2] | Agentic AI that reviews watchlist hits and fraud and compliance cases; Alloy reports 80% automation on high-volume watchlist hits for one financial services firm. | In production | Generative & agentic AI |
| Credit decisioning data orchestration[1] | Combining bureau, cash-flow and alternative data with automated decision rules for lending applications. | In production | Credit scoring & underwriting |
| Orchestrating third-party identity and data vendors[2][5] | One integration to more than 270 partner data solutions that banks can layer and test, rather than separate point-to-point vendor integrations. | In production | Third-party & vendor AI |
What has Alloy disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Financial institutions and fintechs using Alloy (vendor-reported) | More than 900[2] | Jul 15, 2026 |
| Valuation | $1.55 billion, after an additional $52 million Series C extension[14] | Sep 1, 2022 |
| Decisioning volume (vendor-reported) | More than eight billion financial events per month; nearly 200 clients added in the prior year[10] | Feb 25, 2025 |
| Large US bank and credit union clients (vendor-reported) | 7 of the top 25 US banks and 6 of the top 10 credit unions[1] | Sep 24, 2026 |
| AI Assistant watchlist automation for one client (vendor-reported) | 80% automation on high-volume watchlist hits, with sensitive cases routed to reviewers at 98% precision[2] | Jul 15, 2026 |
| Suncoast Credit Union results (vendor-reported) | Fraud losses reduced by over 35% from 2023 to 2024; 269 million digital logins monitored in 2024[7] | Dec 31, 2024 |
| Partner data solutions in network | More than 270[2] | Jul 15, 2026 |
“Fraud has always been about identity, and it happens across the entire customer lifecycle, not just at onboarding.”[2]
Tommy Nicholas · Co-founder and CEO, Alloy · Jul 15, 2026
“Alloy’s AI Assistant is unique because it’s built on reliable context”[3]
Tommy Nicholas · CEO, Alloy · Feb 23, 2026
“Alloy helps us say ‘yes’ to growth without compromising our member-first culture”[7]
Eva Coffee · Manager of Digital Strategy, Suncoast Credit Union · May 18, 2026
Who runs Alloy?
Which rules apply to a bank using Alloy?
| Authority | Why it matters here | Documents |
|---|---|---|
| FinCEN | Alloy runs the customer identification, KYC/KYB and sanctions checks a bank uses to meet its BSA/AML obligations, and its identity checks are bought against the generative-AI document and image fraud FinCEN's 2024 deepfake alert describes; the obligations stay with the bank, not Alloy. | FIN-2024-Alert004 (Deepfake Media) 2018 Joint Statement on BSA/AML Innovation |
| OCC | Alloy sits between a bank and hundreds of downstream data vendors, so a bank relying on it for onboarding and fraud decisions takes on third-party and fourth-party risk that OCC Bulletin 2023-17 expects it to manage, and OCC Bulletin 2026-13 sets model-risk expectations for vendor models such as Fraud Signal. | OCC Bulletin 2023-17 OCC Bulletin 2026-13 |
| Federal Reserve | Alloy's machine-learning fraud scores and decision rules feed account-opening and credit decisions, making them models a bank must inventory, validate and monitor under SR 26-2; the agentic AI Assistant falls to the bank's broader risk management, since SR 26-2 leaves generative and agentic AI outside its scope. | SR 26-2 |
| CFPB | When an Alloy identity or fraud decision causes a bank to decline a credit application, ECOA/Regulation B and FCRA adverse-action notice duties apply to that decision, including the reasons given to the applicant. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) FCRA adverse action and credit-score disclosures (15 U.S.C. 1681m, 1681g(f)) |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness.
What should a bank note before buying Alloy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
Pricing is not published
Alloy has no pricing page; contracts are sold after a demo, so cost comparisons depend on quotes, and third-party data calls orchestrated through Alloy may be priced separately by each data partner.
02
Alloy orchestrates other vendors' data
Much of the identity and fraud signal comes from partners (Plaid, Certos, Socure, SentiLink, TransUnion and others); a bank's due diligence covers those downstream providers as well as Alloy itself.
03
Performance figures are vendor-reported
The Suncoast loss reduction, the 98% login auto-decision rate and the AI Assistant's 80% automation figure come from Alloy's own releases, measured against each client's prior process, and are not independently audited.
04
Named large-bank customers are few
Alloy says it works with 7 of the top 25 US banks but names few of them with a described use; Ally Bank is the one named repeatedly since 2020.
05
The valuation is from 2022
The $1.55 billion valuation dates from September 2022, and Alloy has not announced a funding round since.
What are the alternatives to Alloy?
Socure
Identity verification, fraud scoring and watchlist screening for account opening and login, run on its RiskOS decisioning platform.
Sardine
Fraud and AML platform: device and behavioral signals, transaction monitoring, sanctions screening and AI agents for alert review.
Feedzai
RiskOps platform for bank fraud, scam and AML prevention: transaction scoring, behavioral biometrics and network intelligence.
Featurespace
Real-time behavioral fraud and AML scoring for banks and processors (The Featurespace Platform, formerly ARIC Risk Hub); a Visa unit.
BioCatch
Behavioral-biometric and device intelligence that scores digital banking sessions for account takeover, scams, mules and application fraud.
Pindrop
Phone-channel fraud scoring, passive caller authentication and voice deepfake detection for bank contact centers.
How much does Alloy cost?
Alloy does not publish pricing. Its website has no pricing page and directs banks, credit unions and fintechs to schedule a demo, after which it sells enterprise platform contracts. Its company-information page mentions a partner Testing Program with free or complimentary data calls for trials, but no plan prices or fees are public, so cost comparisons depend on quotes.
Which banks use Alloy?
Among the 100 largest US banks, Alloy names Ally Bank as a client in releases from 2020, 2022 and 2025, and quotes Banc of California's SVP head of product and innovation on using Alloy for onboarding. nCino said in November 2025 that Eastern Bank's lending rollout would use Alloy for fraud and identity decisioning. Alloy also lists U.S. Bank and M&T Bank among clients without describing their use.
Who owns Alloy?
Alloy is privately held. Its investors include Lightspeed Venture Partners, which led the 2021 Series C and 2022 extension, Avenir Growth, Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures. Its last disclosed valuation was $1.55 billion in September 2022, and it has not announced a funding round since then.
Is Alloy a bank?
No. Alloy is a software company that sells an identity and fraud prevention platform to banks, credit unions and fintechs. It is not a chartered bank. The banks that use Alloy remain responsible for their own KYC, BSA/AML and fair-lending obligations and oversee Alloy as a third-party vendor.
What is Alloy's AI Assistant?
Alloy's AI Assistant, launched February 23, 2026, is an agentic AI tool embedded in Alloy's decisioning engine. It reviews fraud, KYC/KYB, AML and watchlist cases and recommends a decision that a human approves, or that the client configures to accept automatically. Alloy reports it automated 80% of high-volume watchlist hits for one financial services firm.
How does Alloy differ from Socure?
Alloy is mainly an orchestration and decisioning platform that connects banks to more than 270 partner data solutions, and Socure is one of those partners in Alloy's list. Socure sells its own identity-verification and fraud models. A bank can use Alloy to run Socure's checks alongside other vendors' checks in one policy.
- AI Info — Alloy
- Alloy Reports Strong First Half of 2026 With Agentic AI Momentum and Over 900 Fintech and Financial Institution Customers
- Alloy launches native AI Assistant to automate risk and compliance workflows
- Alloy launches its first perpetual KYB and Customer Risk Assessment orchestration solution in the UK and Europe
- Alloy Partners with Plaid to Expand Access to Risk Solutions as AI Threats Increase
- Certos℠ and Alloy Partner to Help Community Banks and Credit Unions of All Sizes Disrupt Fraud Schemes
- Suncoast Credit Union Accelerates Member Growth and Controls Fraud Risk with Alloy
- Modulr partners with Alloy to streamline onboarding for scaling customers
- Alloy Launches AI-Powered Fraud Attack Radar Providing Real-Time Actionable Intelligence to Fight Fraud
- Alloy boosts identity decisioning capabilities by 400% using Amazon Web Services
- Alloy raises $12 million in Series A funding led by Bessemer Venture Partners
- Alloy Secures $40 Million in Series B Funding Led by Canapi Ventures
- Alloy Secures $100M In Series C Funding Led by Lightspeed Venture Partners, Bringing Valuation to $1.35B
- Alloy Raises $52 Million in Additional Funding To Accelerate Growth and Global Expansion
- nCino Expands Offering with Eastern Bank to Deliver Connected Lending Experience Across Product Lines
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