The newest solution from Alloy includes actionable AI to show financial institutions and fintechs where attacks are coming from and how to stop them.
Alloy, a leader in identity and fraud prevention, has introduced its latest innovation, Fraud Attack Radar—a machine learning-driven solution designed to provide financial institutions and fintechs with actionable intelligence on fraud threats targeting new account creation. This advancement enables organizations to proactively combat rising fraud risks by delivering real-time alerts during suspected fraud attacks. Integrated within the Alloy platform, these alerts facilitate immediate containment, triage, and investigation of threats, empowering financial institutions to effectively counteract fraud without hindering growth.
Insights from Alloy’s 2025 State of Fraud report reveal that 60% of financial institutions experienced an uptick in fraud incidents over the past year. Notably, only 33% detected these fraudulent activities during the onboarding process, indicating an over-reliance on transaction monitoring controls. Fraud Attack Radar addresses this gap by offering instant alerts, enabling clients to adopt a proactive detection approach and intercept fraud before financial losses occur. Early detection at account opening not only conserves time and resources but also minimizes manual efforts required to resolve fraud-related issues.
“Many financial institutions are already using AI to prevent fraud,” stated Parilee Wang, Chief Product Officer at Alloy. “What sets Alloy apart is that we use AI not just to alert our clients to fraud attacks, but also to provide them with actionable guidance on how to respond. With the Alloy platform, a fraud attack very quickly goes from being a terrifying problem to a contained threat.”
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Developed using Alloy’s extensive insights into prevalent and emerging fraud strategies within the financial services sector, Fraud Attack Radar predicts the likelihood of coordinated fraud attacks aimed at creating fraudulent accounts. Upon detecting suspicious activity, clients receive real-time alerts accompanied by clear insights, allowing for the immediate implementation of more stringent policies to halt fraudulent activities. This approach ensures that low-risk applicants continue to experience a seamless process while reducing the workload for manual review teams. Additionally, Alloy streamlines remediation efforts by providing detailed information on involved entities, facilitating further investigations, and offering recommendations on gradually reopening application funnels.
Jacob Salkovitz, Vice President and Consumer Product Team Leader at Cambridge Savings Bank, remarked, “Alloy’s Fraud Attack Radar gives us the ability to tap into intelligence across Alloy’s broad network to help us identify fraud attack patterns. Not only will these notifications allow us to take quick action to contain potential risk, they’ll help us save time and resources in the long term so our teams can focus on having a unified and holistic view of identity within the Alloy platform, which will enable us to unlock a level of proactivity.”
Key benefits of Fraud Attack Radar include:
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Actionable Insights: Enable immediate actions—such as deploying ‘safe mode’ policies, conducting further due diligence on affected applications, or initiating investigations—within a unified platform.
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Industry-Wide Onboarding Intelligence: Alloy’s model is trained on high-velocity attack patterns observed across the financial services industry, enhancing model accuracy.
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Portfolio-Level Insights: Designed to operate at a portfolio level, Fraud Attack Radar identifies trends across an entire application population, offering organizations a comprehensive view of identity risk alongside individual applicant assessments available within the Alloy platform.
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Seamless Implementation: Existing Alloy clients can adopt Fraud Attack Radar by simply opting in, with no complex configurations or additional setups required.
Fraud Attack Radar represents the latest addition to Alloy’s suite of actionable AI capabilities. While other solutions typically only inform clients when suspicious activity is identified, Alloy’s models empower them to take immediate action, whether that involves conducting an investigation or triggering more conservative policies. Insights gathered throughout the customer journey continually feed into Alloy‘s machine learning models, allowing financial institutions and fintechs to maintain a proactive stance on risk management.