Meridian Credit Union, Canada’s second largest credit union, today announced that it is partnering with leading identity risk management company Alloy to provide a better user experience for new and prospective members while also reducing fraud risk. The partnership supports Meridian’s rapid growth, building on its years of commitment to serving Canadians and its base of 380,000 members, by providing the credit union with a centralized platform to manage fraud, credit, and compliance risk. Meridian joins the over 600 leading banks, credit unions, and fintech companies around the globe that rely on Alloy to help solve identity risk.
“Our members are at the heart of everything we do, so when searching for an identity risk platform, finding the most frictionless option was crucial. Alloy’s ability to connect to hundreds of data sources allows us to test and select the vendors that will help create the positive Member experience we strive to deliver while minimizing risk, making it an easy decision for us,” said Matthew Seagrim.
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Alloy’s end-to-end identity risk management platform allows Meridian to identify good customers at origination, while preventing bad actors from gaining access to the organization. Using Alloy’s 200+ data products covering 195 markets—including Canada—Meridian can easily test and make changes to their onboarding policies, optimizing them for growth. Alloy also gives Meridian the ability to perform step-up verification on risky applicants, keeping fraud rates low while cutting back on manual reviews. Alloy’s real-time decisioning capabilities allow Meridian to make faster, more informed decisions, augmenting the credit union’s ability to deliver a personalized, top-notch member experience.
“Meridian is well known for providing a high-quality user experience to its members,” said Keith Kettell. “We’re excited to be a part of that experience by giving Meridian the tools to meet KYC and KYB requirements while also onboarding genuine individuals and businesses efficiently.”
Meridian joins a growing number of credit unions that use Alloy to help solve for identity risk, including Navy Federal Credit Union, Suncoast Credit Union, and Mountain America Credit Union.
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