Liberis Teams Up with Identity Risk Management Company Alloy

Liberis Teams Up with Identity Risk Management Company Alloy
  • Embedded finance platform Liberis announced a partnership with identity risk management innovator Alloy.
  • The partnership will enable Liberis to leverage Alloy’s platform to add automated compliance verifications to the funding application process.
  • Alloy made its Finovate debut at our developers conference, FinDEVrSilicon Valley 2016.

Embedded finance platform Liberis has teamed up with identity risk management innovator Alloy. Courtesy of the newly announced partnership, Liberis will leverage Alloy’s technology to integrate automated compliance verifications directly into the funding application process. The integration enables Liberis to accelerate its international growth and simplify the merchant experience.

“Alloy is designed to help businesses take control of fraud, credit, and compliance risk, while growing with the clearest picture of their customers,” Alloy CEO Tommy Nicholas said. “We’re confident that our partnership will help Liberis achieve its goal and provide its merchants with a seamless onboarding experience.”

LIberis will gain access and integrations to a global network of more than 190 data sources to streamline KYC, KYB, and AML operations and stop financial crime. The platform will also support the creation of custom, white-label onboarding experiences for partners.

“Alloy’s platform will allow us to enter new markets quickly, optimize our merchants’ fully digitized application for funding and scale to meet our partners’ demand, while also maintaining our high standards for compliance,” Liberis’ Chief Legal & Compliance Officer Alexis Alexander said. Alexander added that one main challenge with compliance checks is that they can increase friction during the onboarding process. To this end, Alloy’s identity risk solution automates and manages onboarding, fraud monitoring, and credit underwriting processes, reducing the amount of paperwork. For those businesses that need more extensive documentation, Liberis will provide a custom, white-label experience tailored to the needs of merchants and partners alike.

Founded in 2015 and headquartered in New York City, Alloy made its Finovate debut at our developers conference, FinDEVrSiliconValley 2016. Today, more than 500 banks and fintechs have partnered with Alloy to manage identity risk at origination as well as throughout the customer lifecycle. Alloy processes millions of identity decisions daily for the world’s top banks and fintechs in 40 countries across North America, EMEA, Latin America, and APAC. The company has raised more than $207 million in funding from investors including Avid Ventures and Felicis.

Just a few days ago, Alloy issued its 2024 State of Fraud Benchmark Report. The report featured some good news on the fight against fraud. According to the 450+ financial industry fraud decision makers who responded to the firm’s survey, the number of reported fraud attacks has begun to “even out – and for some organizations, to decelerate.” Nevertheless, there were devils in the details, including the number of companies reporting an increase in attempted fraud attacks via consumer accounts (61% of companies) and as well as through business accounts (54% of companies).

“It’s encouraging to see companies getting fraud volume under control using the wide array of identity data and technology available on the market,” Nicholas said when the report was release in late January. “But fraud remains a critical problem because bad actors are always finding new tools – such as generative AI – to steal increasingly large amounts of money.” Indeed, Alloy’s report noted that 56% of respondents lost more than EUR 500,000 ($537,000) to fraud in the last 12 months. Over the same time period, a quarter of respondents had lost more than EUR 1 million ($1.7 million).

Photo by SHOCKPhoto by Szoka Sebastian

Alloy and Astra Team Up to Streamline Onboarding and Enable Faster Payments

Alloy and Astra Team Up to Streamline Onboarding and Enable Faster Payments
  • Payments infrastructure company Astra and identity risk management innovator Alloy announced a new partnership this week.
  • The partnership will combine Astra’s advanced payment transfer technology with Alloy’s identity decisioning platform.
  • New York-based Alloy introduced itself to Finovate audiences at FinDEVr Silicon Valley in 2016.

A newly announced partnership combines identity risk management and advanced payment transfer technology to both streamline onboarding and give businesses new ways to send money to their customers.

Faster payments infrastructure company Astra and identity risk management innovator Alloy shared news of their collaboration today. The two companies will work together to streamline the onboarding process and give customers the ability to deploy Astra’s advanced payment transfer technology in their products.

“With Alloy’s identity risk solutions, businesses can confidently onboard verified customers,” Astra co-founder and CEO Gil Akos said. “Paired with Astra’s best-in-class payment technology, more product owners and consumers can leverage accelerated settlement of funds.”

Astra’s platform helps businesses create and offer debit transfers and Visa Direct payments. Partnering with Alloy will make it easier for businesses to quickly and securely onboard new customers and begin offering debit transfer services, Alloy VP of Strategic Alliances Brian Bender explained, “without taking on additional risk.”

Founded in 2015, Alloy introduced itself to Finovate audiences a year later at FinDEVr SiliconValley. The company’s automated identity decisioning platform provides access to 120+ data sources to enable companies to create automated workflows that verify customer information. The platform monitors transactions among accounts and flags suspicious behavior for further review. The technology also enhances the credit underwriting process, helping businesses make better credit decisions as well as accurate identity and customer information assessments.

Today, Alloy’s platform processes nearly one million identity decisions every day. The company also counts nearly 500 banks and fintechs as its customers. This spring, Alloy teamed up with fellow Finovate alum Kyckr to streamline KYB checks for companies operating outside the United States. In February, the company announced a partnership with loan origination solution provider Baker Hill – also a Finovate alum.

Alloy has raised more than $207 million in funding, according to Crunchbase. The New York-based firm includes Lightspeed Venture Partners and Avenir Growth Capital among its most recent investors.

Photo by Helena Lopes

Identity Decisioning Platform Alloy Locks in $52 Million to Help Companies Fight Fraud

Identity Decisioning Platform Alloy Locks in $52 Million to Help Companies Fight Fraud
  • New York-based identity decisioning platform Alloy has raised $52 million in funding at a valuation of $1.55 billion.
  • Alloy will use the additional funding to help it respond to global demand in the wake of its recently announced international expansion.
  • Alloy made its Finovate debut at FinDEVr Silicon Valley in 2016.

Alloy secured $52 million in new funding today. The identity decisioning platform for banks and fintechs announced that the investment, led by Lightspeed Venture Partners and Avenir Growth, gives the New York-based company a valuation of $1.55 billion. The capital will help Alloy respond to growing global demand for its fraud prevention solutions.

Existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures also participated in the funding. This week’s investment comes almost one year after the company raised $100 million at a valuation of $1.35 million.

“We feel incredibly lucky to have partners that not only understand the impact of our investments into our platform and in expanding globally but also proactively come to the table to support them,” Alloy co-founder and CEO Tommy Nicholas said when this week’s investment was announced. “With this newest investment we’ll be able to accelerate our growth and better address the global fraud challenges that companies are facing.”

Alloy demonstrated its technology at our developers conference, FinDEVr Silicon Valley 2016. At the event, the company discussed how its technology enables businesses to build fully-customizable APIs for customer identification and compliance. In the years since then, Alloy has grown into a fraud-fighting unicorn with more than 300 companies using its API-based platform to automate identity decisions during the account origination process and monitor those decisions on an ongoing basis. Leveraging more than 160 data sources, Alloy enables institutions and companies to pull customer, credit bureau, and alternative data through a single point of integration to help them find and onboard good customers without increasing their exposure to potentially fraudulent activity.

Over the past 12 months, Alloy has experienced revenue gains of more than 2x. Processing more than a million decisions daily, Alloy includes Ally Bank, Ramp, and Evolve Bank & Trust among its customers. The company was named to the seventh annual Forbes Cloud 100 last month, a roster of the world’s top private cloud companies. In August, Alloy also announced that its fraud and risk decisioning platform is now officially available in 40 countries in North America, EMEA, Latin America, and APAC.

“We’ve identified a clear need in the global market for Alloy, particularly with the recent rise in fraud, fines for poor implementation of regulatory requirements, and the growth of embedded finance,” Alloy Head of Global Edwina Johnson said. “We’re excited to bring Alloy’s unique platform, and team, to companies operating worldwide.”

Photo by Scott Webb

Alloy Earns $1.35 Billion Valuation After Securing Series C Investment

Alloy Earns $1.35 Billion Valuation After Securing Series C Investment

One year to the month after Alloy closed a $40 million Series B round, the identity decisioning platform – and FinDEVr Silicon Valley alum – has secured a Series C investment of $100 million that brings the company’s valuation to $1.35 billion.

“Identity and its associated risk isn’t something businesses should be figuring out, it should just be something they install,” Alloy co-founder and CEO Tommy Nicholas said. “As Alloy grows into a multi-product platform for the full customer identity lifecycle, we can not only help make risk easier to understand, but also further industry innovation by making fintech products easier to build.”

The Series C round was led by Lightspeed Venture Partners’ Justin Overdorff and featured participation from current investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures. Alloy said that the new capital will enable the firm to “invest” in its team, as well as help expand the company’s product offerings. Over the past year, Alloy’s solution has evolved from a platform that automates onboarding identity decision-making to one that now incorporates transaction monitoring. The company said that it will soon also feature richer data and risk signals to provide FIs with even greater insight into their customers.

Alloy’s API-based platform leverages more than 120 data source products to help companies and banks verify customer identities and monitor transactions. Processing more than 455,000 decisions a day on average, the company’s solution provides both identity verification and risk monitoring functionality in the same place, enabling both developer and product teams to maximize the platform’s resources. The result is a 50% reduction in manual review, and 80% automation rate for new account openings, and an automated customer approval rate of more than 80% for customers such as Novo, Brex, and HMBradley.

Headquartered in New York City and founded in 2015, Alloy was named one of the Best Fintechs to Work for in 2021 by American Banker, and boasts a workforce that is more than 50% female and has ethnic minority representation of nearly 40%. In August, Alloy announced its newest partnership, collaborating with Amerant Bank to automate identity verification in customer onboarding for the $8 billion, Florida-based community bank.

“Providing an exceptional experience for customers, both online and in-person, is at the core of our digital transformation strategy,” Amerant Bank Vice Chairman and CEO Jerry Plush said in a partnership announcement. “With the addition of Alloy, we’ll be able to still meet regulatory requirements, while ensuring a faster and more seamless onboarding and underwriting process that will benefit both customers and Amerant team members.”

Photo by Soloman Soh from Pexels

Digital Identity Specialist Alloy Raises $40 Million in Series B

Digital Identity Specialist Alloy Raises $40 Million in Series B

In a round led by Canapi Ventures, digital identity management innovator Alloy raised $40 million in Series B funding last week. The round featured participation from Avid Ventures, Felicis Ventures, as well as a trio of existing investors: Bessemer Ventures, Primary Venture Partners, and Eniac Ventures. The investment takes the New York-based company’s total capital to more than $55 million.

“Our mission is to help our customers deploy safe and seamless digital customer experiences,” company CEO Tommy Nicholas wrote on the company blog. “This investment will help us continue to support our growing customer base, while expanding our product offerings and scaling marketing, sales, and customer efforts.”

More specifically, Nicholas noted that the investment will help the company bring new products to market in the areas of transaction and credit decisioning, as well as document verification. He added that Alloy will also continue to invest in its onboarding decisioning system and build a new learning portal to help users maximize their use of Alloy’s technology.

Alloy’s platform enables financial institutions to increase the number of customers they can safely and quickly onboard, automate manual processes to reduce error and manual review burden, and reduce fraud and financial risk. The technology allows FIs to access more than 60 KYC and identity vendors via API, and leverages data from a variety of sources in order to provide real-time risk decisioning. The company includes Ally Bank, Evolve Bank & Trust, and Brex among its partners.

In a blog post titled “Why Canapi is Leading Alloy’s $40M Series B Financing,” the Series B’s lead investor makes a strong case for investment not only in Alloy, but also for investment in digital identity innovation in general. The post discusses the challenge that financial services companies face in meeting compliance and regulatory standards that “were not designed for a digital-first world,” and points out that the arrival of the public health crisis has only made this challenge more acute. “What was costly and ineffective in the past has become unsustainable in the COVID-19 era,” the authors write.

Founded in 2015, Alloy presented “KYC: The Customer Killer – Solved!” at our developer’s conference, FinDEVR Silicon Valley, later that same year. At the event, Nicholas and company CTO Charles Hearn showed how Alloy’s technology enabled businesses to create fully-customizable APIs for customer identification and compliance.

Photo by SHOCKPhoto by Szoka Sebastian from Pexels

FinDEVr Flashbacks: Full Presentation Videos Now Live

FinDEVr Flashbacks: Full Presentation Videos Now Live


It’s FinDEVr Silicon Valley like you’ve never seen it before—on video! If you missed out on last month’s conference and want to catch the latest in fintech developer trends, or if you just want to re-live the moments from the show, you’re in luck.

All of the presentation videos from the conference are available for free on Not sure where to start? Take a peek at these award-winning companies:

Tuesday crowd favorite: MX

Wednesday crowd favorite: OCR Labs


Media favorite: 1787fp


Favorite alum:

Favorite debut: WiseBanyan

Favorite established company: IBM

Favorite startup: Alloy


We’ll see you next year or at FinDEVr New York on March 21 & 22, 2017!

Fintech Trending: RegTech Reality Check, Blockchain Bandwagon, and IBM’s New Wallet

Fintech Trending: RegTech Reality Check, Blockchain Bandwagon, and IBM’s New Wallet


Hat, courtesy of Alloy, a customer-onboarding specialist that debuted at FinDEVr in October.

The dream of RegTech is alive at Finovate

Deloitte recently asked what we should make of regtech in a new report titled, “RegTech is the new FinTech: How agile regulatory technology is helping firms better understand and manage their risks.” To the extent that regtech represents technologies, strategies, and solutions designed to help firms better meet regulatory obligations, remain compliant, and/or secure their processes, there may be less new here than meets the eye. Compared to insurtech, regtech firms have been prominent players in the fintech firmament for years.

To its credit, Deloitte is aware of the “old-is-new-again” aspect of regtech. The report notes that “while the name is new, the marriage of technology and regulation to address regulatory challenges has existed for some time with varying degrees of success.”

Indeed. Consider companies like Gremln (F14), which demonstrated a social media platform specifically for regulated industries, and Finect (F13), which unveiled a compliant communication platform for financial professionals. Qumram (F16) provides software that helps ensure complaint communication by recording digital interactions from web, social, and mobile channels.

My Virtual Strongbox (F14) introduced the kind of secure document-storage technology that can help FIs better manage customer documentation. Global Debt Registry, another F14 presenter, provides compliance and risk-management solutions to the account-management industry. OutsideIQ (F16) enables FIs to uncover regulatory risk using a combination of machine learning and human analysis. FundAmerica (F15), arguably one of the most explicitly regtech companies to demo at Finovate, provides crowdfunding platforms with APIs for a wide variety of “mission-critical, back-end regulatory requirements.”

Additionally, there are a sizeable number of credit risk analysis innovators such as QCR (F15), CreditHQ (F16), and FICO (FD16); companies like Avalara (FD15) that help merchants recognize and satisfy sales-tax requirements (or by that token, even a VATBox (F15) that helps recover VAT fees for international travelers); and cloud-based auditing technologies like those available from Auvenir (F16), whose identity as a fintech company was a topic of our deliberations.

And all of this is to say nothing of the even larger number of security and authentication specialists whose technologies—at least by Deloitte’s definition—can be considered regtech. Note that Deloitte’s Ireland-based rundown of regtech companies includes Finovate alum Trustev (F14), whose online ID-verification technology is very much in the same category as dozens of other security, authentication, verification, anti-fraud innovators.

The question as to whether regtech as a “thing” (as the millennials say) can be separated from the broader fintech discussion is likely more of a marketing decision than anything else. Clearly regtech has the ranks; the issue is to what degree does distinguishing them as a type of innovator apart from the larger fintech world make it easier for these companies to attract top talent, develop necessary solutions, and raise the capital to drive and grow their businesses. From the perspective of fintech in general—and Finovate/FinDEVr in specific—we’re happier having regtech innovating from “inside the tent,” as opposed to being outside the tent trying to find a way in.

See also:

Blockchain bandwagon

Two more major players jumped on the blockchain bandwagon. IBM (FD16) showed its Hyperledger at FinDEVr last week and Visa (FD14) announced its cross-border payment system built on blockchain-like distributed ledgers, an apparent challenge to Swift. The technology is powered by Chain (FD15) which counts Visa, Capital One (FD15) and Citibank as investors. According to Javelin Strategy, banks will invest $1 billion this year in blockchain initiatives.

Mobile payments gets another huge player

Speaking of IBM, one of the more surprising announcements at Money2020 was the launch of IBM Pay, a private-label mobile payments and POS system. Details are sketchy, but in the IBM video below, it appears to be a Starbucks-like QR code system. It’s part of IBM’s Watson Commerce initiative.

FinDEVr Silicon Valley: Celebrating the Best of the Builders

FinDEVr Silicon Valley: Celebrating the Best of the Builders


After watching two days of live presentations from fintech innovators from around the world, the attendees at FinDEVr Silicon Valley 2016 have made plain their preferences. So many presenters received enthusiastic praise for the way they are solving problems and developing tools/APIs to make payments more efficient, security more effective, and financial data more accessible. Although all companies impressed the audience, still a few emerged as clear favorites.

So without further ado, let’s take a look at them (all chosen by audience vote, except the press/analyst favorite):

Crowd favorite, day one:

  • MX for its heartfelt message on how it gets the necessary work done, both in fintech and in life

Crowd favorite, day two:

  • OCR Labs for its innovations in optical character recognition (OCR) and facial recognition (FR) technology and their application on web and mobile platforms.

Press/analyst favorite:

  • 1787fp for its mobile app that helps consumers track and manage their finances and investments.

Favorite FinDEVr alum:

  • for its registered email and registered electronic contract technology.

Favorite FinDEVr debut:

  • WiseBanyan for its free, independent, goal-based roboadviser designed to help investors reach their first $100,000.

Favorite established company:

  • IBM for its implementation of the Hyperledger Project and blockchain-as-a-service strategy.

Favorite startup company:

  • Alloy for its software solutions that help financial services companies conduct KYC/AML; develop risk-management strategies; and maintain continuous compliance.

We want to thank everyone who made FinDEVr Silicon Valley 2016 possible. From our presenters to our attendees to all the staff and others who participated in this year’s event, we truly could not do this without you. So give yourselves a pat on the back, raise a toast of something tasty, and mark your calendars as we take our developers conference to the Big Apple next spring for FinDEVr New York 2017, and then across the Atlantic in June for FinDEVr London 2017.

FinDEVr APIntelligence

FinDEVrSV16-withdateOur FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today to save your spot!

Check out our latest FinDEVr Previews featuring:

The latest from FinDEVr New York and upcoming Silicon Valley presenters

  • Visions FCU signs with MX for money-management app.
  • OnDeck launches marketing campaign featuring Shark Tank judge Barbara Corcoran.
  • Inside Expensify’s New Concierge Bot.
  • Calls New Patent a Turning Point.

Alumni updates

  • Entersekt listed among 100 most promising African fintech companies of 2016.
  • Aurionpro joins Temenos MarketPlace.
  • Avalara Raises $96 Million in New Funding.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr Preview: Alloy

FinDEVr Preview: Alloy

FinDEVrSV16-withdateFinDEVr Preview will highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Tickets are on sale now. So visit our registration page and save your spot.

Alloy will be presenting a new way to create and optimize customer onboarding applications. The company will graphically create an API to verify customer information for KYC/AML purposes and then optimize it to increase conversion rates for “good” customers.


Why it’s a must-see

Until now, KYC services have been a black box. If your business is turning away good customers because identity services are denying them, there is no recourse. Alloy gives you full visibility and write-access to the decision-logic and allows you to test, optimize, and instantly modify existing onboarding logic in production.

Check out more of today’s FinDEVr previews:

Finovate Alumni News


  • Financeit Recruits CFO from Capital One Canada
  • Wave Mechanics: FT Partners Report Highlights Trends Driving Rise of Insurtech

Around the web

  • Fiserv inks deal with FCTI to provide transaction processing for 8,000 ATMs in 7-Eleven convenience stores in U.S. Video of Fiserv’s recent live demo from FinovateFall is now available.
  • NCR launches cloud-based developer portal.
  • ACI Worldwide and Vocalink partner to provide real-time payments solution.
  • Let’s Talk Payments interviews Tom Burgess, Linkable Networks founder and CEO.
  • Visions FCU signs with MX for money-management app.
  • Zopa releases its first-ever rating of a batch of securitized Zopa loans.
  • Sezzle Wins $10,000 from Securian in Minnesota Cup Startup Competition.
  • Aurionpro joins Temenos MarketPlace.
  • OnDeck launches marketing campaign featuring Shark Tank judge Barbara Corcoran.
  • RightCapital launches Leads, a tool to help financial advisers turn leads into clients.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.