Case Study: Consumers Credit Union saves $5 in fraud for every $1 spent on Alloy and automates 78% of onboarding decisions
Key results
The challenge
Consumers Credit Union, a $2.3B institution, ran a highly manual and rigid digital onboarding fraud process that struggled to keep pace with evolving fraud threats while maintaining member experience.
The solution
Consumers adopted Alloy's fraud prevention platform, using its Journeys functionality, a Testing Suite with the Champion Challenger feature, and document verification through Alloy's codeless SDK to automate and continuously tune onboarding decisions.
“Fraud comes in so many shapes and sizes...That's what I think the power of Alloy is: the ability to categorize all these different types.”
IHIndia HoskinsData & Analytics Manager, Consumers Credit Union
The results, in context
Consumers now automates 78% of onboarding decisions and saves $5 in fraud losses for every $1 spent on Alloy. The credit union cut the time to make policy changes by 96% and grew loans 12% year over year.