Mastercard and Alloy Launch Enhanced Identity and Fraud Prevention Solution to Streamline Onboarding

The Mastercard Alloy Joint Onboarding Solution leverages Mastercard's identity and open finance solutions to enable safe and seamless customer onboarding for financial institutions and fintechs

NEW YORK, Aug. 20, 2025 /PRNewswire/ -- Alloy, a leading identity and fraud prevention platform provider, has announced a new global partnership with Mastercard to launch an enhanced customer onboarding solution for financial institutions and fintechs. The new Mastercard Alloy joint onboarding solution will leverage identity verification and open finance to streamline the end-to-end onboarding process while combating fraud.

According to Alloy's 2025 State of Fraud Report, fraud rates continue to rise, with 60% of financial institutions and fintechs reporting an increase in 2024. As a result, 93% of financial organizations reported plans to invest in ongoing fraud prevention measures in 2025, with 64% planning to implement an identity risk solution.

The Mastercard Alloy joint onboarding solution provides a consistent identity risk strategy and onboarding experience across channels. Alloy intends to leverage Mastercard's best-in-class global digital identity verification capabilities and suite of open finance-powered account opening solutions to help financial institutions and fintechs manage fraud and identity risk and secure account funding throughout the customer lifecycle. Mastercard products will be integrated and pre-configured in Alloy for seamless deployment. In addition to pre-built integrations to Mastercard products, customers will receive access to over 200 risk and identity solutions available through Alloy, helping to improve customer conversion rates, reducing manual reviews, and ensuring comprehensive end-to-end coverage.

"Fraud continues to be a significant challenge for financial institutions and consumers alike, underscoring the urgent need for robust fraud prevention measures," said Dennis Gamiello, EVP, Global Head of Identity at Mastercard. "This joint onboarding solution will be a game-changer in the fight to reduce fraud and deliver a seamless and secure customer experience."

"Successful fraud prevention starts with a holistic approach to understanding identity. Our partnership with Mastercard will allow more financial institutions and fintechs to evaluate customer identities holistically. The end result for those companies will be a better digital experience and less fraud risk, allowing their businesses to grow effectively," said Parilee Wang, Chief Product Officer at Alloy.

To learn more about Alloy, visit http://alloy.com

About Alloy
Alloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world's largest financial institutions and fintechs turn to Alloy's end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world.

Media contact:
Kylee Sibilia
[email protected]

SOURCE Alloy