10x Banking integrates Alloy’s identity and fraud prevention tools

By Gloria Methri

10x Banking has partnered with Alloy, an identity and fraud prevention platform, to deliver next-generation customer onboarding, perpetual KYC and KYB monitoring, and credit decisioning platform for financial institutions globally.

The partnership combines 10x’s meta-core platform with Alloy’s solutions for managing identity risk throughout the customer lifecycle. 10x’s solution powers major financial institutions globally, including Chase UK and Westpac, and provides banks with a fast and cost-effective path to cloud-native transformation.

Alloy’s platform is trusted by over 600 financial institutions and FinTechs, including Sonovate, Liberis, Ent Credit Union, Shopify, and Clear Street. Alloy has pre-built integrations to one of the broadest networks of data products in the industry, with over 200 fraud, compliance, and identity data sources, including Onfido, ComplyAdvantage, GBG and others covering 195 markets worldwide.

In addition, Alloy leverages its data orchestration capabilities to synthesise all of the data points and automate decision-making for clients, allowing clients to solve fraud, credit, and compliance risks and grow confidently.

This partnership sees Alloy’s data network integrated with 10x’s core banking platform. This enables financial institutions to make lending and account opening decisions with increased agility and precision from the core, delivering faster business decisions. The modular decisioning solution allows financial institutions, for the first time, to originate, personalise, and manage loans directly within the 10x Banking platform.

Keith Kettell, Alloy’s Chief Revenue Officer, said, “Our partnership with 10x Banking is a testament to our commitment to helping financial institutions in the UK and beyond fight fraud.”

Matt Mills, Chief Revenue Officer at 10x Banking, said, “Our collaboration with Alloy represents a significant step forward in the modernisation of risk decisioning. Alloy’s cloud-native approach to identity risk management complements 10x Banking’s cloud-native core banking platform, creating a modern, versatile credit decisioning tool for banks and fintechs seeking to transform their loan origination processes.”