Alloy Enhances Identity Decisioning Efficiency by 400% with AWS Integration

Alloy, a renowned identity and fraud prevention platform, has made significant strides in its operational efficiency by leveraging the robust products of Amazon Web Services (AWS). As a result, Alloy's capability to decision on financial events has skyrocketed, now accommodating over eight billion events each month, signifying an increase of more than 400%.

Established in 2015, Alloy has become a vital partner to global financial institutions and fintechs, allowing them to manage identity risk effectively. The company has expanded its client base, gaining nearly 200 new clients within just the last year, which includes some of the largest players in the financial sector such as Navy Federal Credit Union and Ally Bank. In recognition of its rapid growth and innovation, Alloy has been listed in the Forbes Fintech 50 for three consecutive years.

The growing demands of Alloy's clients necessitated enhancements in their decisioning capabilities to handle an increased influx of real-time data. To accomplish this, Alloy implemented key AWS solutions including Amazon Aurora Serverless, Amazon DynamoDB, and Amazon Simple Storage Service (Amazon S3). This strategic integration has empowered Alloy to ingest approximately 3,200 events per second for each customer, resulting in the ability to compute about 1,200 real-time decisions and onboard 600 entities each second.

Charles Hearn, the CTO and co-founder of Alloy, emphasized the importance of scalability in their growth, stating, "As Alloy and our clients grow, we need to support an increased number of decisioning events. AWS has been instrumental in helping us maintain the capacity for today while ensuring we can scale effectively for the future."

Moreover, to optimize their database efficiency and ensure scalability even under peak loads, Alloy employs Amazon RDS Proxy. This fully managed database proxy not only enhances application scalability but also increases resilience against database failures and boosts security measures.

Yan Leshinsky, VP of Amazon Aurora at AWS, praised Alloy's commitment to scaling their services along with their clients, expressing excitement about the partnership and the improved decisioning capabilities that Alloy has achieved through AWS.

Alloy's platform is designed to provide financial institutions with the tools they need to manage risks related to identity verification and fraud prevention effectively. With over 600 of the world’s major financial institutions relying on Alloy's comprehensive platform, the company is uniquely positioned to deliver actionable intelligence and access to an extensive network of data sources, thereby staying ahead of fraud and compliance challenges that are rampant in the financial landscape today.

Thanks to its deep integration with AWS, Alloy continues to empower financial organizations in offering safer and more reliable products to their customers across the globe. In a rapidly evolving digital finance environment, Alloy’s enhancements mark a significant leap in the direction of fortified identity risk management.

For the current financial landscape, where efficiency and security are of utmost importance, Alloy's ongoing commitment to innovation places it at the forefront of the fintech industry. As they enhance their partnerships with leading financial institutions worldwide, their efforts are set to reshape the future of identity verification in finance.

Alloy carries forward its mission not just to serve clients but to facilitate broader access to excellent financial services, thereby carving a niche for itself in the crowded fintech marketplace. As the company heads into the future, its reliance on AWS will undoubtedly present more opportunities for growth and innovation in serving the global finance community.