US fintech Alloy has announced the launch of activities in the British financial services market as part of a project to expand its presence in the EMEA region.
The company is opening an office in London and recruiting employees for its emerging British division.
Alloy offers its customers a product in the form of an identification decision-making platform that connects to more than 170 data sources. This platform allows financial institutions to automate customer approval, account opening, and transaction monitoring. The product is already used by 350 companies worldwide.
Alloy was founded in 2015. The firm has experience in cooperation with companies such as Carta, Ramp, and Brex. Last year, the company announced that it had managed to attract financing in the amount of $ 52 million. At the same time, it became known about the firm’s intention is to enter the markets of 40 countries.
Former CEO Edwina Johnson moved to London to lead the process of expanding the scale of Alloy’s presence in global markets. Former Onifdo Vice President James Baston-Pitt has been appointed Director of Development in the EMEA region.
Alloy in the UK currently employs employees in sales and partnership positions. Throughout this year, the company will gradually expand its functionality for the British market and the list of customer service solutions.
Edwina Johnson says that the UK is one of the most powerful fintech centers in the world. She noted that the standard practice of international expansion in the field of business involves numerous compromises related to risk management, but in the modern financial market, there are more dynamic ways to scale activities. Edwina Johnson stressed that Alloy provides flexible support to companies so that they can focus on doing business and not worry about potentially possible fraudulent interference.
As we have reported earlier, UK to Roll Out More Shared Banking Hubs.