Mastercard and Alloy team up to launch onboarding solution in fight against fraud
Ellie Duncan | News
21 Aug 2025
US-based identity and fraud prevention platform provider Alloy has formed a global partnership with Mastercard to launch a customer onboarding solution for fintechs and financial institutions (FIs) that draws on Mastercard’s identity and Open Finance solutions.
The new Mastercard Alloy joint onboarding solution will provide a “consistent identity risk strategy and onboarding experience across channels”, according to a press statement.
The launch comes after the Alloy 2025 State of Fraud Report revealed that 60% of FIs and fintechs reported an increase in fraud rates in 2024.
As a result, the majority (93%) of financial organisations intend to invest in ongoing fraud prevention measures this year, with 64% planning to implement an identity risk solution.
The new joint offering will leverage Mastercard’s global digital identity verification capabilities and range of Open Finance-driven account opening solutions to help FIs and fintechs manage fraud and identity risk, and secure account funding.
Mastercard products will be integrated in Alloy, while customers will also have access to more than 200 risk and identity solutions available via Alloy.
“Fraud continues to be a significant challenge for financial institutions and consumers alike, underscoring the urgent need for robust fraud prevention measures,” said Dennis Gamiello, executive vice president, global head of identity at Mastercard.
He called the new joint onboarding solution “a game-changer” in the fight against fraud and delivering a secure customer experience.
Parilee Wang, chief product officer at Alloy, said: “Successful fraud prevention starts with a holistic approach to understanding identity.
“Our partnership with Mastercard will allow more financial institutions and fintechs to evaluate customer identities holistically.”
Wang added that companies will benefit from a better digital experience and less fraud risk.
Further reading: Mastercard, Lendio highlight Open Finance innovation for SMBs at OBExpo USA
