LONDON,
Nov. 21,
2024 /PRNewswire/ -- 10x Banking, the cloud-native
core banking platform, has partnered with Alloy, a leading identity
and fraud prevention platform, to deliver a
next-generation customer onboarding, perpetual KYC and KYB
monitoring, and credit decisioning platform for financial
institutions globally.
The partnership combines 10x's pioneering meta
core platform with Alloy's leading 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 the fastest, most
cost-effective path to cloud-native transformation.
Alloy's platform is trusted by over 600 of the
world's most prominent 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. On
top of this, Alloy leverages its data orchestration capabilities to
synthesise all of the data points and automate decision-making for
clients, allowing clients to better solve for
fraud, credit, and compliance risk, and grow with
confidence.
This partnership sees Alloy's data
network seamlessly integrated with 10x's core banking
platform, enabling financial institutions to make lending and
account opening decisions with increased agility and precision from
the core, delivering faster, better business decisions in a market
that demands real-time capabilities. The modular decisioning
solution allows financial institutions, for the first time, to
originate, personalize, and manage loans directly within the 10x
Banking platform.
Keith Kettell,
Chief Revenue Officer at Alloy said: "Our partnership with 10x
Banking is a testament to our commitment to helping financial
institutions in the UK and beyond fight fraud. Our
partnership will provide financial institutions all over the world
with flexible tools to efficiently manage identity risk,
specifically aiding them in enhancing their account opening and
in-life risk management processes."
Matt Mills, Chief
Revenue Officer at 10x Banking, said, "Our collaboration with
Alloy represents a significant step forward in the modernization 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. This partnership, with 10x's unique meta core approach,
enables us to continue our mission to revolutionize banking for the
benefit of financial institutions, their customers, and
society."
About 10x Banking:
https://www.10xbanking.com
10x Banking is a cloud-native core banking
platform designed for financial institutions. Founded by former
banking executives and built by technologists, the 10x platform
offers unparalleled security, scalability, and speed. The company's
unique 'meta core' approach provides financial institutions with
the fastest, most cost-effective path to cloud-native
transformation. 10x Banking is B-Corp certified and has a global
presence in London, Sydney, and Singapore, supported by world-class investors
including BlackRock and J.P. Morgan.
For interviews and images, please contact Cat
Lenheim, ThoughtLDR, cat@thoughtldr.com
About Alloy
Alloy helps solve the identity risk problem
for companies that offer financial products. Over 600 banks, credit
unions, and fintechs turn to Alloy's end-to-end identity risk
management platform to take control of fraud, credit,
and compliance risks, and grow with confidence. Founded in 2015,
Alloy is powering the delivery of great financial products to more
customers around the world. Learn more at alloy.com.
Media Contact: Kylee Sibilia,
kylee@alloy.com
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SOURCE Alloy