Alloy Consumer Bundles

This article describes the various consumer product bundles available in Alloy. While there are extensive combinations of the available data sources, fraud prevention tools, and integrations offered through Alloy to fit the needs of your institution, Narmi recommends combining the two bundles below:

1. Initial Screen KYC Bundle

2. Best Practices KYC Bundle

Why both bundles?

Narmi recommends first running applications through the Initial Screen KYC Bundle. This step helps quickly identify and deny non-qualified applicants, such as those generated by bot attacks or those appearing on denial lists. By filtering these applicants early, the process reduces costs and minimizes the need for more comprehensive data sources.

If an applicant passes the initial screening, they will proceed to the Best Practices KYC Bundle, where more advanced data sources are leveraged to verify the applicant's legitimacy and qualifications further.

Initial Screen KYC Bundle

1. Denylist

   • Denylist is an Alloy service that can automatically deny evaluations based on one or more input personal identifying information (PII) elements.

   • Used to auto-deny known bad actors, for example, upload a list of known bad SSNs. A variety of common PII elements can be used.

2. Alloy Identity Element Velocity (IEV)

   • Alloy offers the ability to decision on identity elements (for example, SSN, phone number, email, etc.) when they are seen across multiple entities. This is important to prevent fraud proactively.

   • An example scenario would be detecting entities that share an SSN or phone number, then taking subsequent actions—such as tagging it informationally, running additional services, or determining an outcome.

3. NeuroID Crowd Alert & Orchestrator

   • NeuroID enables you to see whether an applicant interacts with your web forms the way a normal, genuine person would. This helps identify potential bot-driven fraud attacks, users operating with stolen identities, and other suspicious activity. With NeuroID, you have the answers to questions like:

     • Is the applicant typing in their info or copying and pasting it?

     • Are they taking long pauses mid-word?

     • Are they filling the fields sequentially or out of order?

     • How long is it taking them to complete each field?

     • Are they going back and forth between the PII fields and another window?

     • Does the applicant’s behavior demonstrate that they are familiar with the data they’re providing, or does it imply they are looking it up as they go?

   • Visit NeuroID for more information.

Best Practices KYC Bundle

Narmi and Alloy recommend the mix of solutions set forth below for optimal fraud prevention based on actual fraud practices Alloy has seen industry-wide across its customer base.

1. Iovation - FraudForce

   • Iovation detects device anomalies, bots, Tor networks or proxy servers, IP address distance from the application address, velocity on the device, and device risk.

   • It uses 3 billion known devices and 30 million detailed fraud reports to define a FraudForce or SureScore.

2. Ekata (WhitePages Pro)

   • Ekata provides real-time global identity data, proprietary network insights, and years of sophisticated data science to power their APIs.

   • Applies pattern recognition, predictive analytics, and machine learning to the five key consumer data attributes of email, phone, name (person or business), physical address, and IP.

3. ID Analytics - ID Score

   • ID Analytics flags identity velocity and instances of attempted fraud at other institutions. They use a cross-industry network of over a trillion attributes and 4.2 million fraud reports to verify identity.

   • ID Score’s model calculates an application’s fraud risk score and reason codes based on the information provided in the score request. The individual and combined personally identifiable information (“PII”) data elements asserted in the application are used to calculate a wide variety of predictive variables based on recent and historical transactions, confirmed frauds, and third-party data sources.

4. Socure - Full Fraud

   • Socure is an AI, machine-learning identity verification and fraud risk solution.

   • Conducts predictive fraud scoring based on over 400 online and offline databases with rich behavioral and email address data.

5. LexisNexis - Consumer ID (US) KYC

   • LexisNexis is a traditional identity vendor with a deep database sourced from public and governmental records.

   • Includes fundamental KYC checks (names, dates of birth, SSNs, and current addresses), access to Sanctions lists, insight into Adverse Media, and Politically Exposed Persons checks.

Visit Available Data Sources in Alloy and General Alloy Workflow Best Practices for additional information.

Contact your Narmi Relationship Manager or Implementations Project Manager if you have any questions or would like to make changes to your current Alloy bundle.