10x Banking, a leader in cloud-native core banking platforms, has announced a strategic partnership with Alloy, a prominent identity and fraud prevention platform. Together, they are delivering a next-generation solution for customer onboarding, perpetual KYC (Know Your Customer) and KYB (Know Your Business) monitoring, and credit decisioning for financial institutions across the globe.
This groundbreaking collaboration integrates 10x’s pioneering meta-core banking platform with Alloy’s advanced identity risk management tools, enabling financial institutions to enhance operational agility and efficiency.
A Powerful Alliance for Cloud-Native Transformation
10x Banking powers major financial institutions like Chase UK and Westpac, providing banks with a seamless path to cloud-native transformation. Meanwhile, Alloy’s platform, trusted by over 600 global financial institutions and fintechs such as Shopify, Sonovate, and Liberis, brings unparalleled expertise in managing identity risk throughout the customer lifecycle.
Alloy’s robust network of over 200 fraud, compliance, and identity data sources—including Onfido, ComplyAdvantage, and GBG—spans 195 markets worldwide. Its data orchestration capabilities streamline decision-making, empowering clients to mitigate risks related to fraud, credit, and compliance while driving growth.
Revolutionizing Lending and Account Opening
The partnership enables seamless integration of Alloy’s extensive data network into 10x’s core banking platform. This innovation empowers financial institutions to make faster, more precise lending and account-opening decisions directly within the core system. The result is a modular, real-time solution that revolutionizes loan origination, personalization, and management.
“This partnership underscores our commitment to empowering financial institutions worldwide to combat fraud effectively,” said Keith Kettell, Chief Revenue Officer at Alloy. “Together with 10x Banking, we’re equipping organizations with the tools to enhance account opening and risk management processes with greater efficiency and confidence.”
Driving the Future of Financial Services
Matt Mills, Chief Revenue Officer at 10x Banking, emphasized the transformative impact of this collaboration:
“Our partnership with Alloy marks a new era in risk decisioning for financial services. Combining Alloy’s innovative identity risk management with our cloud-native platform allows banks and fintechs to modernize their loan origination processes and deliver exceptional outcomes for their customers. This is a significant step forward in achieving our mission to revolutionize banking for institutions, their customers, and society as a whole.”
By merging their cutting-edge technologies, 10x Banking and Alloy are setting new standards in cloud-native risk decisioning, enabling financial institutions to thrive in an increasingly digital and dynamic market.
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