- Blend Labs Inc. (BLND, Financial) has expanded its partnership with Alloy to enhance fraud prevention for banks and credit unions.
- The partnership has shown success, with Alloy detecting and rejecting nearly 700 fraudulent applications at Langley Federal Credit Union.
- The integrated solution provides cost-effective and streamlined access to identity verification and fraud detection services.
Blend Labs Inc. (BLND) announced an expanded partnership with Alloy to bolster fraud prevention capabilities for banks and credit unions. This integration enables financial institutions to access advanced security tools seamlessly within Blend's consumer banking solutions, improving both security and cost-efficiency.
The collaboration showcases its effective real-world application, particularly highlighted by Langley Federal Credit Union's experience. During a fraud attack, Alloy successfully detected and automatically rejected nearly 700 fraudulent applications, reinforcing the partnership’s capability to enhance security and compliance through identity orchestration and third-party data integration.
Further empowering financial institutions, the solution features configurable workflows that allow the intelligent sequencing of security providers, offering a balance between security, compliance, and operational efficiency.
The alliance with Alloy aligns with Blend's strategic direction to address critical fraud prevention while potentially providing additional revenue opportunities through integrated compliance and security solutions. This partnership positions Blend as a comprehensive solution provider within the competitive digital banking technology landscape.
