Alloy

What Alloy does

Alloy is an AI-powered identity and fraud prevention platform founded in 2015 and headquartered in New York City (operating as First Mile Group, Inc.). The company serves over 800 financial institutions and fintechs, including 7 of the top 25 US banks, and reports processing more than one million decisions daily. Its customer base spans national and regional banks, credit unions, fintechs (including Brex, Ramp, Shopify, Monzo), sponsor banks, and crypto firms, with named clients such as Navy Federal Credit Union, Ally Bank, US Bank, Mountain America Credit Union, Suncoast Credit Union, and Live Oak Bank. The company is led by CEO Tommy Nicholas and was recognized on Deloitte's Technology Fast 500 and CNBC's World's Top Fintech Companies lists in 2025.

The platform is built on an API-first, vendor-neutral architecture that orchestrates access to 270+ data partner solutions through a central engine. Core modules include Customer Onboarding, Fraud Prevention, Compliance (AML, KYC/KYB, watchlist screening), Credit Decisioning, and the Orchestration and Decisioning Engine. The proprietary Actionable AI suite comprises Fraud Signal (an identity-centric ML model for continuous fraud risk prediction), Fraud Attack Radar (portfolio-level detection of coordinated attacks), and the Alloy AI Assistant (a native agentic AI embedded in the system of record that automates case reviews, watchlist resolution, and KYB research). The platform supports perpetual KYC and KYB, document verification with computer vision, biometric matching, and credit bureau integrations with Equifax, Experian, and TransUnion.

Alloy monetizes through subscription-based enterprise agreements and usage-based API pricing, with quote-based annual contracts for large financial institutions and volume-based monthly billing for mid-market and growth-tier clients. Distribution is primarily direct enterprise field sales complemented by strategic channel partnerships with core banking infrastructure providers including nCino, MANTL, Q2, Blend, and Origence, as well as integrations with Plaid, BioCatch, and agentic AI partners Parcha and Greenlite. As of the most recent disclosed round in September 2022, Alloy had raised approximately $192M in total funding and was valued at $1.55B, with operations spanning North America, EMEA, LATAM, and APAC and a stated goal of reaching 40 countries.

Name

Alloy

Legal name

First Mile Group, Inc.

Website

https://alloy.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Alloy is an AI-powered identity and fraud prevention platform serving 800+ financial institutions and fintechs, including 7 of the top 25 US banks. It unifies identity verification, fraud detection, credit decisioning, and compliance through a vendor-neutral platform orchestrating 270+ data partners.

Ownership category

akta.pro rank

Product category

Identity Verification and Fraud Prevention Software

akta.pro primary industry

Risk, Fraud & 3DS Orchestration for Payments (FSAGABAL)

Keywords

• Identity verification platform
• Fraud prevention software
• Kyc compliance solutions
• Aml transaction monitoring
• Api orchestration platform

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Platform/SaaS Subscription: Subscription-based access to Alloy's identity and fraud prevention platform with various tiers based on volume and features. Pricing is quote-based and negotiated enterprise agreements.
2. Usage-based API Calls: Revenue based on API call volumes for identity verification, fraud checks, and data lookups through integrated partner ecosystem.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Alloy provides an AI-powered identity and fraud prevention platform that unifies identity verification, fraud detection, credit decisioning, KYC/KYB compliance, and AML transaction monitoring through a single API-based orchestration engine. The vendor-neutral platform connects clients to 270+ data solutions and serves over 800 banks, credit unions, and fintechs with full-lifecycle risk management from onboarding to ongoing monitoring.

Product overview

Alloy is an AI-powered identity and fraud prevention platform that unifies identity verification, fraud detection, credit decisioning, and compliance into a single, configurable system. The platform operates on a modular architecture centered on the Alloy Platform core, which provides API-based orchestration connecting to 270+ data solutions. Key modules include Customer Onboarding (for identity verification and application processing), Fraud Prevention (full-lifecycle fraud detection), Compliance (AML, KYC/KYB, watchlist screening), and the Orchestration & Decisioning Engine (for routing and sequencing vendor calls). The Actionable AI Suite provides advanced ML capabilities including Fraud Signal (predictive risk scoring), Fraud Attack Radar (portfolio-level attack detection), and AI Assistant (agentic automation for compliance workflows). Additional features cover Identity Verification, AML Transaction Monitoring, Credit Decisioning, and Authentication & Account Servicing.

Differentiator

Problem solved

Functional benefit

Products and services

• Alloy Platform Unified AI-powered identity and fraud prevention platform that orchestrates 270+ data solutions for identity verification, fraud detection, credit decisioning, and compliance, built on API-based infrastructure for financial institutions and fintechs.
• Customer Onboarding
• Continuous Fraud Management Full-lifecycle fraud management that detects and prevents fraud across the entire customer lifecycle, including onboarding, transactions, logins, and account activity.
• End-to-End Compliance End-to-end compliance solution for AML, KYC/KYB, watchlist screening, case management, and embedded finance products, with continuous portfolio monitoring and SAR/CTR filing support.
• Orchestration and Decisioning Engine Orchestration layer that routes inputs, sequences vendor calls, and manages dependencies across every workflow, providing dynamic data pulls between the data ecosystem and intelligence layer.
• Actionable AI Suite Suite of AI tools combining predictive machine learning and agentic AI, including Fraud Signal, Fraud Attack Radar, and AI Assistant for fraud risk prediction, portfolio-level attack detection, and compliance automation.
• Identity Verification Verifies customer identities with confidence across all touchpoints, combining document verification, biometric matching, and data cross-checks to detect synthetic identities and document fraud.
• AML Transaction Monitoring Real-time transaction risk scoring and behavioral monitoring for AML compliance across P2P, ACH, RTP/FedNow, stablecoin, and wire channels, with case management for SAR/CTR filing.
• Credit Decisioning Credit underwriting and decisioning capabilities including credit bureau integrations (Equifax, Experian, TransUnion), cash flow data, alternative data orchestration, and decision automation.
• Authentication and Account Servicing External account ownership verification, login and device management, risk-based authentication, and step-up verification management for ongoing account security.
• Data Partner Ecosystem
• Fraud Attack Radar AI-powered intelligence that identifies coordinated fraud attacks at the portfolio level, detecting unusual patterns across entire populations of applications and alerting fraud teams in real time.
• Alloy AI Assistant Native agentic AI embedded in Alloy's platform that automates risk and compliance workflows, including case triggers, watchlist hit resolution, business due diligence, and KYC attribute corroboration.
• Perpetual KYB and Customer Risk Assessment Continuous monitoring and assessment of corporate risk rather than static point-in-time checks, with automatic re-running of checks when significant changes occur such as registry updates, watchlist hits, or ownership changes.
• Perpetual KYC with AI Insights Replaces pre-scheduled periodic KYC reviews with real-time monitoring, continuous customer risk assessment, and electronic ID verification for new market expansion.
• Fraud Signal Identity-centric machine learning model that continuously predicts fraud risk from first touch to every subsequent interaction, marrying onboarding signals with monetary and non-monetary data.

Quantifiable outcome

• 35% decrease in fraud losses for Suncoast Credit Union
• +12 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration58 records

AI capability9 records

Feature7 records

Partnerships

Twelve partnerships are on record, tiered core.

• PlaidcoreTechnology or Integration · 2 April 2026Strategic partnership to help financial institutions combat AI-driven fraud. Through this partnership, Alloy clients can access Plaid Protect's network-level fraud intelligence and identity verification tools directly within Alloy workflows, enabling institutions to test and deploy AI-powered solutions.
• Internal Product LaunchcoreOthers · 23 February 2026Launch of Alloy AI Assistant, a native agentic AI solution embedded within the identity and fraud prevention platform. Automates risk and compliance workflows reducing manual review workloads.
• MANTL (Alkami Solution Team)coreTechnology or Integration · 18 December 2025Partnership has processed over 2 million deposit applications supporting 150+ shared customers with automated decision rates exceeding 80%. Integration improved operational efficiency and fraud reduction for clients including Ascend Bank which decreased fraud losses by $165,000.
• nCinocoreTechnology or Integration · 30 September 2025Eastern Bank implementation incorporating Alloy for fraud and identity decisioning capabilities within nCino's loan origination platform. Partnership extends across commercial banking, consumer banking, and mortgage solutions.
• OrigencecoreTechnology or Integration · 5 July 2025Partnership to deliver best-in-class fraud protection for credit unions. Combines Origence lending solutions with Alloy's identity decisioning and fraud prevention platform.
• IG GroupcoreTechnology or Integration · 1 June 2025Partnership to balance regulatory compliance with ambitious growth goals. IG Group uses Alloy's identity risk management platform for KYC and fraud prevention.
• BioCatchcoreTechnology or Integration · 1 May 2025Behavioral analytics and fraud prevention partnership expanding biometric user onboarding and KYC technologies. Partnership enables enhanced fraud detection through behavioral biometrics integration.
• BlendcoreTechnology or Integration · 15 April 2025Expanded partnership to supercharge fraud prevention for banks and credit unions. Integration combines digital banking platform with Alloy's identity and fraud prevention capabilities.
• Data ZoocoreTechnology or Integration · 27 March 2025Partnership to provide financial institutions and fintechs with global customer identity onboarding solutions. Data Zoo's identity verification integrated into Alloy's platform.
• IncredibleBankcoreTechnology or Integration · 24 March 2025Partnership to accelerate growth in account opening. IncredibleBank achieved 90% automation of account openings and 88% reduction in application review time using Alloy's platform.
• Internal Product LaunchcoreOthers · 10 March 2025Launch of Fraud Attack Radar providing real-time actionable intelligence to fight fraud. AI-powered fraud detection identifying coordinated attacks at portfolio level.
• Q2coreTechnology or Integration · 22 January 2025Joint fraud monitoring solution for banks and credit unions. Partnership delivers combined fraud monitoring capabilities leveraging both platforms' strengths.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Persona: Persona is an AI-powered identity verification platform serving fintechs and digital-first businesses, offering configurable KYC/KYB workflows directly overlapping with Alloy's onboarding and verification modules.
• Socure: Socure provides identity verification and fraud prevention for banks, fintechs, and credit unions with ML-driven risk scoring, positioning it as the closest enterprise alternative to Alloy's Fraud Signal capability.
• Sumsub: Sumsub delivers all-in-one KYC/AML, identity verification, and fraud prevention for financial institutions and crypto businesses globally, directly competing with Alloy's lifecycle risk management platform.
• Trulioo: Trulioo provides global identity verification and business verification services integrated via APIs, serving financial institutions and fintechs with compliance, KYC, and AML capabilities comparable to Alloy's data orchestration layer.
• Jumio: Jumio offers AI-powered identity verification, KYC, and AML compliance solutions for financial institutions and online businesses—a direct competitor to Alloy's identity verification and onboarding modules.
• Onfido (Entrust): Onfido (acquired by Entrust) provides AI-based document verification and biometric identity verification for regulated industries, directly competing with Alloy's identity verification partners and orchestration flow.
• Sift: Sift provides a digital trust and safety suite including AI-driven fraud detection, account takeover prevention, and payment risk scoring—an overlapping solution for continuous fraud management that Alloy clients often combine or compare against.
• Veriff: Veriff provides AI-powered identity verification and document authentication for fintechs and financial institutions, serving as an integrated data partner and direct competitor in the broader identity verification space.

Emerging players

• Sardine: Sardine is a behavior-based fraud and compliance platform targeting fintechs and digital banks with risk-scoring for onboarding, transactions, and KYC—an emerging player building ML-native risk infrastructure that overlaps with Alloy's action suite.

Broad incumbents

• LexisNexis Risk Solutions: LexisNexis Risk Solutions is a long-established large-scale provider of fraud detection, identity verification, and compliance data; as a data partner in Alloy's ecosystem and a broader competitive incumbent, it competes for enterprise risk management budgets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/usealloy
• Facebookfacebook.com/usealloy
• LinkedInlinkedin.com/company/alloy-apis
• Instagraminstagram.com/use_alloy

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds11 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alloy