Veriff Partners With Alloy to Fight Identity Fraud

Veriff, a global identity verification provider, is partnering with Alloy, an identity decisioning platform, to enhance Veriff’s know your customer (KYC) offerings, according to a Thursday (April 14) press release.

The partnership will help banks and FinTechs fight fraud and remain compliant while also providing additional identity verification capabilities and KYC solutions that can be leveraged during client onboarding in more than 190 countries.

Veriff’s identity verification technology will be made accessible through Alloy’s platform to help FinTechs and banks quickly verify identities during the onboarding of new clients. The verification process also meets KYC requirements to ensure compliance. With its video-first technology, Veriff extends best-in-class KYC verification with an extra layer of protection via location verification, per the release.

See also: Veriff Collabs With Starship to Drive ID Verification for Autonomous Robot Delivery

“We saw the financial services industry evolve dramatically over the course of the COVID-19 pandemic, and with it, a rise in fintech fraud and stringent regulations,” said Veriff Co-founder and CPO Janer Gorohhov.

“As a result, it’s never been more important for financial service institutions to be steps ahead of these bad actors. We’re thrilled to partner with Alloy and work together to help banks and FinTechs reestablish trust online among their customer base,” Gorohhov said.

Alloy strives to be a central command center for identity verification that can give financial institutions an overview of customers from day one of onboarding. Alloy’s platform combined with Veriff’s capabilities can offer financial organizations the extra trust and security needed for everyday decisions.

Read more: Fake Bank Records Spotlight Need for Advanced Tech in B2B Identify Verification

“The fraud landscape is constantly shifting, and financial institutions need to be able to adjust quickly to continue mitigating fraud,” said Alloy VP of Strategic Alliances Brian Bender.

“Our partnership with Veriff enables us to connect our clients with more identity verification and KYC offerings that meet each of their compliance needs and empower them to remain agile in the evolving market,” Bender added.