Fraudsters are already connected. Banks, fintechs, and crypto platforms are not. That mismatch is why synthetic identities, mule pipelines, and illicit flows keep slipping through the cracks — moving between TradFi and digital assets before any one institution can respond. Synthetic identity fraud alone drove an estimated $20 billion in losses in 2022 (ABA Banking Journal), while 70% of fraud cases involve mule accounts that often span multiple institutions (FTC).
At the heart of the problem isn’t just better analytics or more alerts. It’s a lack of connectivity: fraud, AML, and compliance teams trapped in silos, and industries cut off from one another. Only 14% of eligible U.S. financial institutions participate in 314(b) information sharing (FinCEN), leaving most firms blind to threats outside their walls. The result is blind spots that criminals exploit and regulators increasingly refuse to tolerate.
That’s why FiVerity has joined the American Fintech Council (AFC) and is launching a dedicated members’ hub — making FiVerity the first permissioned, cross-industry collaboration platform that unites fintechs, TradFi, and crypto into a single layer of defense.
Other solutions already exist, but they’re limited:
FiVerity’s approach is different. By building a permissioned, intelligence-layered collaboration layer, AFC members can:
Disconnected defenses create inefficiency. Financial institutions report that 95% of AML alerts are false positives (ACAMS/Oracle), draining time and resources. Meanwhile, 56% of banks say fraudsters are better at information sharing than the industry itself (PwC). FiVerity’s model flips that imbalance.
This isn’t just another data exchange. It’s the counterforce financial crime fighters have been missing.
FiVerity’s Anti-Fraud Collaboration Platform is purpose-built for cross-industry defense in both fraud and anti-money laundering (AML). Unlike traditional consortiums or data vendors, FiVerity doesn’t just aggregate information — it transforms it into actionable fraud intelligence while preserving privacy. That makes it both regulator-ready and usable across industries that have never been able to collaborate at this level.
By normalizing identity attributes across PII, devices, payments, and wallets — and layering privacy-preserving matching and intelligence — FiVerity provides AFC members with a comprehensive view of threats without requiring them to give up control of their data.
This foundation then delivers tangible benefits to each segment:
FiVerity’s platform already provides intelligence coverage spanning over 95% of U.S. residents, delivering day-one value and engagement. Results have shown the ability to reduce investigation time by more than 50% by clustering and enriching alerts with fraud intelligence.
The AFC convenes responsible fintechs and innovative banks at the center of the U.S. financial system. By extending FiVerity’s connectivity across this community, the AFC members’ hub demonstrates a model for the industry: diverse participants linked into a single permissioned defense infrastructure.
The result is stronger defenses, faster investigations, and greater resilience against financial crime.
Fraud and AML challenges don’t sit neatly in one industry — they cross boundaries. That’s why defenses must do the same. Regulators are already signaling higher expectations: the OCC has reminded sponsor banks they must demonstrate effective oversight of fintech partners, including fraud and AML risk (OCC Bulletin 2023-17). Globally, the FATF has called for cross-industry collaboration as a missing piece in AML enforcement.
Without connectivity, each industry remains reactive — fighting yesterday’s fraud typologies while criminals innovate. With it, the industry can shift from reacting to leading.
The AFC members’ hub, powered by FiVerity, shows how permissioned, intelligence-driven collaboration can unify defenses, accelerate investigations, and give regulators confidence that oversight is real.
FiVerity’s mission is to fight financial crime with the power of connectivity and intelligence. Partnering with the American Fintech Council allows us to expand that mission — providing AFC members with the infrastructure to unify defenses, strengthen compliance, and stay ahead of evolving threats.
Together, we can close the gaps that criminals exploit and build a financial system that’s not just connected, but resilient.