We’re excited to announce our partnership with Alloy, the leading identity risk management solution for banks and fintech companies.
Now, Alloy’s 500+ customers can automate SMB onboarding, underwriting, and fraud prevention using Coris’s SMB intelligence products.
SMB risk automation & consolidation
Fintechs, banks, and other platforms managing SMBs are increasingly looking to automate and consolidate their SMB identity & risk management processes. Coris and Alloy each address different parts of this problem.
Coris automates the manual and error-prone SMB risk management process using proprietary data and models. Meanwhile Alloy consolidates insights from Coris and other data providers in one platform to provide a clearer picture of customers during onboarding and beyond.
“We’re excited to partner with Coris on improving the SMB risk management process for builders of financial products,” said Brian Bender, GM of Partner Solutions at Alloy. “Having a wide array of data at their disposal is critical for banks and fintechs to manage identity risk across the customer lifecycle.”
Under this new partnership, Alloy’s customers can access two of Coris’s products directly within the Alloy platform: MerchantProfiler, our KYB & SMB intelligence product, and CorShield, the first SMB-specific fraud model.
MerchantProfiler
- MerchantProfiler goes beyond just checking a KYB box. It enables globally-minded fintechs and software companies to onboard, underwrite, and monitor their SMB customers through:
- The world’s first instant SMB industry classification (MCC and 6-digit NAICS codes), powered by GPT-4
- Automated analysis of SMB websites, 3rd party consumer reviews (Google, Yelp, Facebook), and more
- Real-time KYB including Secretary of State business verification, sanctions screening, and TIN matching
- Adverse media insights, which surface negative information regarding a business or its beneficial owners
CorShield
CorShield prevents business impersonation fraud and first party fraud at sign-up. It helps risk teams minimize false positives and avoid expensive downstream losses.
Existing SMB fraud prevention methods either leverage generic fraud tools or manual verifications. CorShield, on the other hand, automatically triangulates known information on SMBs and cross-checks applicant data against this to assess the likelihood of fraud. For each SMB, it generates a fraud score and top reasons for the score.
Working together for our customers
We’re excited to see the benefits this partnership brings to our customers. Coast, a fuel and fleet spend management company, is a customer of Alloy and Coris and has seen substantial results since using Coris.
“Coris has been a game changer for our Risk team. Using their product, we started instantly approving 90% of business applications, eliminating unnecessary friction for our good customers. Coris’s SMB intelligence data has also reduced our application review time by over 75%. I highly recommend Coris to any Risk team looking to offer a high quality customer experience while efficiently identifying SMB fraud.”
– Anurag Puranik, Head of Credit & Risk at Coast
