“All of the risk and fraud requirements to validate identity were designed for the brick-and-mortar world,” co-founder and CRO Laura Spiekerman told Crunchbase News. “In a digital world, they have to use third-party databases, such as credit bureaus. However, if someone doesn’t have a credit history, there is not that reliable data to make a risk assessment.”

https://news.crunchbase.com/news/alloy-secures-40m-to-digitally-onboard-banking-customers/?utm_content=intro&utm_term=content&mkt_tok=eyJpIjoiTVdVME5URTVNV0ZpTlRJNSIsInQiOiJOMEF2djZLQjNMdW5WbERHS2FcL2JkZjYwWFZaRGNLT1Y0dGlJaElcL2txUFRwUXBra1J3MEhkNERuWXFIMmdoOTVRaklxREwyRWYzXC9RZVl3bEZvNURpdDVZdnY1bkF1YVdcL1JBbVduM2FkZlVZYWU2Q2ZDb0lUTDQrdUJpQWlrZVMifQ%3d%3d