The Intersection of Financial Institutions and Technology Leaders

Leveraging Technology to Stay Ahead of Fraud

February 28, 2024

By Tommy Nicholas

Fraud has never been more pervasive, according to Alloy CEO Tommy Nicholas, and a strong fraud prevention system has never been more critical for banks operating in the U.S. today. Moreover, banks need a cohesive fraud strategy that applies across every part of the digital banking ecosystem, from account opening to mobile banking to payments platforms. In this video, Nicholas explains the types of fraud banks face and how to craft a holistic fraud prevention strategy.

Topics discussed include:

• Types of Fraud
• Identifying Vulnerabilities
• Evaluating Vendors

Tommy Nicholas is the CEO at Alloy. Mr. Nicholas began his career as a software developer. He met his co-founder Laura Spiekerman and Charles Hearn when the three were working at a payments startup, where the three of them recognized the need for a better tool to connect banks and fintech companies to sources of KYC, AML and other compliance data. Together, they co-founded Alloy, and today nearly 500 banks and fintechs turn to Alloy to take control of fraud, credit and compliance risk and grow with the clearest picture of their customers.

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