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Alloy and Prove partner on digital ID solutions to reduce financial fraud

Alloy and Prove partner on digital ID solutions to reduce financial fraud
 

Identity decisioning platform Alloy and digital ID verification firm Prove have entered a new partnership to facilitate user onboarding and tackle financial fraud attempts.

The collaboration will see Prove integrate its phone-based digital ID solutions within the Alloy platform, which routinely analyzes more than 120 data sources to enable banks and fintech companies to make better risk decisions.

“We are excited about our new partnership with Prove,” comments Brian Bender, VP of Strategic Alliances at Alloy. “It is our goal to help our clients continuously improve and secure their customers’ onboarding experience. We do this [by] integrating best-in-class data sources that improve those workflows.”

The integration enables Alloy’s clients to utilize Prove’s Pre-Fill onboarding solution, designed to auto-fill online applications using verified consumer information from authoritative sources and streamlining customer experience while also reducing fraud risks.

The move will also allow Alloy’s customers to verify individuals using Prove’s Identity solution separately if needed, such as to perform KYC checks, via the company’s Mobile Auth application programming interface (API).

“Today’s financial services customers value security and customer experience equally, and they are rightfully unwilling to sacrifice one for the other,” says Prove Head of Product Tim Brown. “We’re thrilled to partner with Alloy to implement phone-centric identity tools because together we’re providing our clients with easier onboarding solutions that will, in turn, create an overall better experience for their end customers.”

The collaboration with Alloy comes months after Prove partnered with non-profit organization The Knoble to combat human trafficking.

More recently, the company has been recognized as the best innovative solution provider by customers and users of its digital identity tools on the G2.com platform.

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