Mastercard and Alloy announced a new partnership to launch an advanced identity and fraud prevention solution for financial institutions and fintechs. The solution will streamline onboarding and reduce fraud, marking a critical step in fraud prevention technology.
According to Alloy’s 2025 State of Fraud Report, fraud cases keep rising. Around 60% of banks and fintechs reported higher fraud levels in 2024. Consequently, 93% of financial firms plan to increase fraud prevention investments in 2025. Meanwhile, 64% said they intend to adopt advanced identity risk solutions.
Streamlining Onboarding With Mastercard Alloy Integration
The joint Mastercard Alloy solution creates a consistent identity risk approach and a simplified onboarding experience across digital channels. Alloy will integrate Mastercard’s global identity verification tools and open finance solutions. Together, they will help firms manage identity risks, protect account funding, and reduce fraud.
This onboarding platform will feature pre-configured Mastercard integrations within Alloy. Customers will also gain access to over 200 identity and risk solutions. These tools will improve conversion rates, cut manual reviews, and deliver stronger fraud prevention coverage across the customer lifecycle.
Industry Leaders Highlight the Importance of Fraud Prevention
“Fraud remains a significant challenge for financial institutions and consumers, creating urgent demand for secure fraud prevention tools,” said Dennis Gamiello, EVP, Global Head of Identity at Mastercard. “This solution will reduce fraud while delivering a safer, seamless customer experience.”
“Fraud prevention begins with a complete view of identity,” said Parilee Wang, Chief Product Officer at Alloy. “Our collaboration with Mastercard enables financial firms and fintechs to verify identities more effectively. This approach ensures stronger fraud prevention, better digital experiences, and scalable business growth.”
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News Source: Prnewswire.com
