Nasdaq Verafin today announced a partnership with Alloy, an AI-powered identity and fraud prevention platform, designed to connect fraud intelligence across the customer lifecycle, starting with the integration of fraud risk signals between the two platforms.

Nasdaq Verafin will join Alloy’s expansive partner network, enabling mutual customers to access fraud insights from Nasdaq Verafin’s consortium data network of over 850 million counterparties directly within Alloy’s platform.

With access to data that matches entity information against confirmed fraudulent activity across Nasdaq Verafin’s consortium data network in Alloy, mutual customers will now be able to have a more complete picture of financial crime risk throughout their customers’ lifecycle, beginning at account onboarding.

“As fraud threats become more sophisticated and move faster than ever, we need to give financial institutions the opportunity to proactively strengthen their defenses by offering greater visibility into fraud risks from across the financial system,” said Colin Parsons, VP and Head of Fraud Product Strategy, Nasdaq Verafin. “Through this partnership, we’re more closely integrating fraud signals between the Nasdaq Verafin and Alloy platforms to give financial institutions the ability to see a more complete picture of the threat landscape.”

In addition, Alloy’s real-time fraud alerts will be integrated into Nasdaq Verafin’s alert, investigation, and case management platform for mutual customers, helping to close the loop between detection and action. Suspicious activity flagged in Alloy will feed into the Nasdaq Verafin platform, so financial institutions can investigate and quickly take action in one unified workflow. Case outcomes will then flow back into Fraud Signal, Alloy’s proprietary identity-centric predictive machine learning model, helping sharpen end-to-end fraud controls with every resolved case.

“Fraud teams are under pressure to be fast and thorough at the same time, but siloed systems make that really challenging,” said Tommy Nicholas, co-founder and CEO of Alloy. “By integrating with Nasdaq Verafin, we’re giving our shared customers more clarity on customer risk across systems so financial institutions can proactively mitigate risk before funds are lost and remove unnecessary friction points for good customers.”

“The integration between Alloy and Nasdaq Verafin will enable our fraud teams to better prioritize high-risk member activity and quickly resolve alerts in a centralized system with full context of each scenario,” said Jill Gogel, VP of Fraud Services, Dupaco Community Credit Union. “This will strengthen our ability to prevent high-risk transactions from leaving the credit union and reduce unnecessary friction for our members. By strengthening fraud controls that maintain a seamless member experience, we’re better positioned to support sustainable growth and performance.”

Together, Alloy and Nasdaq Verafin aim to give financial institutions the confidence to proactively keep a pulse on customer risk levels and emerging fraud threats, helping empower financial institutions to safely offer additional capabilities, such as real-time payments.