As fraudsters continue to evolve their tactics, financial institutions face increasing pressure to strengthen security measures that protect their customers. That's why we're excited to introduce our new partnership with Alloy. Through Alloy’s platform, financial institutions can seamlessly implement CLEAR’s advanced biometric identity verification into their workflows. Biometrics offer a higher level of security by linking a customer’s identity to something that cannot be stolen or duplicated: their unique physical traits.

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Together, we deliver consistent, robust protection across multiple touchpoints while enhancing the customer experience. With CLEAR and Alloy, security is seamlessly woven into every interaction, protecting users without adding unnecessary friction.

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The Role of Consistency in Identity Verification

Financial institutions often use various methods to verify customer identities, depending on the situation. For instance, a customer may undergo a thorough verification process for account creation, but face a more lenient check during a transaction. Despite an increased focus on onboarding security, 35% of financial institutions reported experiencing over 1,000 fraud attempts in the past year,¹ highlighting how an inconsistent verification approach can create vulnerabilities for bad actors to exploit. Critically, much of this fraud occurs past the point of onboarding—whether due to friendly fraud, account takeover, or scams—where traditionally, FIs don’t conduct strong identity verification.

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Financial institutions today cannot be confident in a user’s identity just by checking their ID once.The fraud landscape today requires multidimensional identity verification applied across all interactions—not just during onboarding—to effectively combat threats, especially as generative AI gives bad actors new tools.

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How CLEAR Enhances Security Without Sacrificing Experience

CLEAR enables consistent identity verification at every step, not just during onboarding. CLEAR allows users to provide their information once, verify their identity, and reuse it across different use cases within the same financial institution, or even at different financial institutions—simply by taking a selfie. When needed, CLEAR can reverify users based on partner or regulatory requirements, ensuring compliance and adaptability for different use cases. Over 25 million individuals are already CLEAR members and can reverify with any CLEAR partner in seconds. 

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For those new to CLEAR, the process is simple and quick: upload a government-issued ID and take a quick selfie. Once enrolled, users skip re-uploading data during future verifications. For onboarding purposes, CLEAR’s One-Click KYC solution enables financial institutions to tailor verification flows so they can meet their KYC compliance needs. With user identities being captured at the outset, CLEAR continues to conduct necessary checks behind the scenes with every verification, connecting an individual’s biometrics with data from the first interaction—maintaining the same high security standards at every touchpoint, from onboarding to payment to account recovery. 

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This consistent and robust verification process closes potential gaps that fraudsters could exploit, reducing the risk of identity fraud and account takeovers. CLEAR’s reusable identity makes it easy to embed identity checks throughout the entire customer journey, allowing financial institutions to confidently verify individuals without giving up a seamless user experience.

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The CLEAR and Alloy Partnership: A Comprehensive Approach to Security

Alloy recognizes the importance of a holistic identity solution that keeps pace with the evolving financial landscape. By partnering with CLEAR, Alloy allows financial institutions to access CLEAR as a simplified verification option from onboarding through every customer interaction. CLEAR is excited to partner with Alloy to empower financial institutions to strengthen customer protection, streamline processes, and contribute to a safer financial ecosystem.

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Boost Protection at Every Touchpoint

Discover how CLEAR can strengthen your institution’s security. Get in touch today.