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Daily Tearsheet: Alloy and Prove team up to improve identity verification for FIs, and how crypto apps grew over 900% in Q4 2021

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Daily Tearsheet: Alloy and Prove team up to improve identity verification for FIs, and how crypto apps grew over 900% in Q4 2021

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Quick take: Alloy and Prove team up to improve identity verification for financial firms

Alloy and Prove, vendors of different components within identity verification systems, have joined forces to offer enhanced identity verification solutions for banks and fintech firms.

With the new collaboration, Prove will act as a data partner that is fully integrated into Alloy’s Identity Decisioning Platform. The integration covers two of Prove’s core offerings — Identity Pro and Pre-Fill.

In the latter half of 2021, Alloy launched transaction monitoring and credit underwriting to work alongside its active onboarding product. This year, while the firm continues to beef up its products, the focus will be on building up its network of partners.

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The latest briefing

Bankchain Briefing: How top crypto app downloads grew over 900% last quarter

This week, we zoom in on the growth and performance of crypto apps over the last few years.

Crypto apps have been enjoying a high level of global demand and usage, with new installs of the top 20 apps for crypto wallets and exchanges growing 902% year-over-year in Q4 2021, according to a new report by Apptopia and Adjust.

The US saw the highest growth in crypto apps in Q4 (645%), followed by Asia-Pacific (475%), Europe, Middle East, and Africa (284%), and Latin America (182%).

Overall, the adoption of crypto apps grew significantly in 2021.

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Just look at the charts

1. From open banking to open finance

SourceDeloitte

2. Platform banking models for financial firms

SourceSkaleet

Today’s stories

Adyen moves into embedded finance
Adyen has announced its expansion beyond payments to build embedded financial products for businesses (Finextra)

Blockchain.com hits $14 billion valuation
Crypto exchange Blockchain.com reached a $14 billion valuation in a Series D funding round, more than doubling its previous value (CoinDesk)

How banks can make a smooth transition to digital CX
Using a digital customer service platform can ensure a single engagement across channels. Three steps help smooth the transition to a better multi-channel experience (The Financial Brand)

Robinhood is nearing the launch of retirement accounts
Robinhood may be coming closer to launching retirement accounts, according to evidence found within the beta version of the iPhone app (PYMNTS)

Mastercard taps Goldman Sachs IT lead for B2B post 
Mastercard has appointed Goldman Sachs’ head of digital for transaction banking, Chad Wallace, as executive vice president for its B2B solutions (Finextra)

Stay ahead of the game with Outlier — Tearsheet’s exclusive members-only content program and join the leading financial services and fintech innovators reading us every day.

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