Alloy Embedded vs Covery
Alloy Embedded
alloy.com
Covery
covery.aiSide by side
| Figure | Alloy Embedded | Covery |
|---|---|---|
| Price from | — | €800/mo |
| Free plan | — | — |
| Free trial | — | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | — |
| Android | Yes | — |
| API | Yes | Yes |
| Plans published | 0 | 6 |
| Spec score · Fraud Detection Software | 8.0 (#8) | 8.2 (#5) |
| Founded | 2015 | 2016 |
| Headquarters | New York, New York, United States | Limassol, Cyprus |
| Integrations | Alloy describes an API-first architecture and low-code SDKs for embedding its tools into BaaS stacks, including integrations with payment processors, card issuers, and ledgering platforms. | Covery says it can integrate with payment gateways, CRMs, and other third-party services through its API. |
| Purpose | Alloy for Embedded Finance helps sponsor banks and BaaS providers enforce compliance and risk controls across partner portfolios. | Covery describes itself as a fraud and risk management platform for risk analysts, payment managers, AML professionals, BI specialists, and data scientists. |
| Security | Alloy states that it encrypts data in transit with TLS 1.2 and at rest with AES-256, and that it uses bcrypt for passwords. | Covery says its SaaS uses an ISO 27001-certified cloud service and that it has implemented GDPR controls under its Data Protection Expert. |
| Support | The product page invites prospective customers to schedule a demo and says Alloy will discuss their needs and answer questions. | Covery's API documentation directs customers who need assistance to [email protected]. |
Plans
Covery
- Startup€1,000 a month
- Small€1,750 a month
- Medium€2,250 a month
- Startup€9,600 a year
- Small€16,800 a year
- Medium€21,600 a year
In their own words
Alloy Embedded
Alloy Embedded provides identity and fraud risk controls for sponsor banks, BaaS providers, and fintechs. It centralizes KYC, KYB, AML, and fraud prevention policies across fintech partners, with real-time monitoring of partner activity and transactions. A portfolio dashboard shows aggregated partner performance for oversight, audit, and reporting; sponsor banks can also set partner autonomy and guardrails through parent-child accounts. Teams can create cloneable risk rulesets without coding and tailor controls to product type and partner maturity. Fraud detection analyzes identity, behavioral, and transaction data and can flag synthetic identities, account takeovers, and mule activity. The web SDK supports document checks, phone-based identity verification, and device risk assessment. Alloy says its API-first architecture and low-code SDKs integrate with payment processors, card issuers, and ledgering platforms. Pricing is on request; the embedded finance page offers complimentary audit access. Alloy lists SOC 2 and ISO 27001:2022 among its compliance materials and says data is encrypted in transit with TLS 1.2 and at rest with AES-256.