Alloy, a leading identity and fraud prevention platform provider, announced the launch of a perpetual Know Your Customer (pKYC) solution enhanced by AI insights. „The pKYC solution will enable financial institutions and fintechs in the UK, Europe, and beyond to improve the customer experience and grow their business, while simultaneously meeting evolving regulatory requirements. Alloy enables UK banks, fintechs, and payments companies to increase customer conversions and scale into new geographies while also preventing financial crime.” – according to the press release.
When it comes to pKYC, many financial institutions in the UK and Europe still rely on pre-scheduled periodic reviews, which can leave gaps in visibility and delay responses to financial crime. „Alloy’s pKYC solution raises that standard by pairing scheduled refreshes with real-time reactivity to both third-party and first-party data.” – the company said.
„Underpinning the solution is a dynamic customer risk assessment (CRA) that can be re-run in the event that a user carries out a suspicious activity or has a suspicious change to their personally identifiable information (PII).” – the company explained.
Alloy also partners with agentic AI providers Parcha and Greenlite to automate and accelerate ongoing financial compliance, including customer reviews. „With Alloy’s pKYC solution, compliance teams can act more quickly, increase their straight-through-processing (STP) rates, and protect their customers from financial crime at scale.”
„Across the industry, the fight against financial crime is shifting from periodic checks to continuous intelligence,” said Francesco Fulcoli, Chief Compliance & Risk Officer at Flagstone. „Static, point-in-time KYC is giving way to dynamic monitoring, where customer behaviour is analysed in real time, and risk assessments evolve automatically. At Flagstone, we see AI and technology as the catalyst for this change: enabling financial institutions to detect anomalies earlier, respond faster, and reduce friction for genuine clients. This is the direction of travel for the market, smarter AML compliance that is always on, adaptive, and customer-centric.„
With regulatory frameworks in the UK, Europe, and beyond becoming increasingly complex, compliance is a top priority for financial institutions and fintechs. Alloy’s 2025 State of UK Fraud Report found that 93% of UK fintech leaders ranked regulatory penalties and reputational damage as their most concerning consequences of fraud. European regulators expect KYC checks to be applied dynamically—not only at onboarding but also throughout the customer lifecycle—requiring per-country and per-product policies that must also adapt as new regulations emerge.
„For fintechs operating in Europe, meeting ambitious growth goals while staying compliant across multiple markets is a daily challenge,” said Jason Ioannides, VP, Global Fintech and Sponsor Banking at Alloy. „Implementing dynamic pKYC ensures that institutions aren’t just assessing risk at onboarding but also continuously throughout the customer lifecycle.”
To help compliance teams automate responses to high-risk KYC checks, Alloy also now offers electronic ID (eID) verification as a new digital authentication method across multiple geographies. „With more EU regulators beginning to mandate acceptance of digital identity wallets, Alloy clients can seamlessly integrate eID as a step-up into their KYC workflows—unlocking expansion opportunities in new European and global markets where the ability to verify eIDs may be required. Verifying via eID is also faster and simpler for customers than manual methods such as uploading documents or selfies, enabling financial institutions and fintechs to increase their customer conversions.” – the company added.
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Founded in 2015, Alloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 700 of the world’s largest financial institutions and fintechs turn to Alloy’s end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks.
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