Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today announced its partnership with Socure to deliver best-in-class digital identity verification and fraud protection capabilities through Q2 Open’s CorePro, an agile, cloud-based core processor and system of record.


According to a recent survey published by Q2 and Cornerstone Advisors, 43 percent of respondents listed easy account setup as a top reason to adopt fintech solutions. By integrating with Socure's AI-based Know Your Customer (KYC) identity risk scoring, CorePro users will eliminate tedious out-of-wallet questions, simplify onboarding processes and grow the number of overall new accounts opened, while increasing protection against identity fraud.

“At Q2, we are continually evolving our banking-as-a-service solutions to enable banks and fintechs to quickly develop and deploy best-in-class digital financial experiences,” said Paul Walker, general manager of Q2 Open. “Our partnership with Socure reinforces our commitment to provide secure and agile solutions to banks and fintechs, and to offer better identity verification and fraud protection that enables a truly frictionless customer onboarding process.”

CorePro is a modern and cost-effective core-processing platform that enables flexible, digital solutions such as demand deposit accounts, debit accounts and direct banking. With Socure, CorePro will empower banks and fintechs with faster, more accurate identity verification decisions to create a more streamlined and inclusive financial experience for a broader base of customers. Instead of relying on credit bureau data, which inherently excludes those who lack sufficient credit or do not have access to traditional financial services, Socure uses a combination of online and offline data to create a more complete footprint of a consumer's digital identity.

“Socure is excited to partner with the Q2 team,” said Johnny Ayers, founder and SVP of Socure. “By integrating Socure’s predictive analytics platform into CorePro’s banking-as-a-service capabilities, we believe that together we can drive the future of digital account opening across the fintech and broader financial services industries.”

Socure’s solutions continue to displace legacy identity verification systems across the U.S. where accuracy, automation and speed are critical. Customers include three of the top five U.S. banks, seven of the top 10 U.S. card issuers, as well as the majority of leading digital banks, lenders and insurers across the U.S.

About Q2 Holdings, Inc.

Q2 is a secure, cloud-based digital transformation solutions company headquartered in Austin, Texas. Since 2004, it has been our mission to build stronger communities by strengthening their financial institutions. Our digital banking solutions for deposits, money movement, lending, leasing, security and fraud enable financial institutions to deliver a better financial experience to their account holders. Our bank and credit union customers, along with emerging financial services providers, also benefit from actionable data analytics and access to open technology tools. To learn more about Q2, visit www.q2ebanking.com.

About Socure ID+

Socure ID+ uses patented Machine Learning and Artificial Intelligence technologies to establish a trusted digital identity for online and in store applications. The company’s predictive analytics platform provides an instant, multidimensional view of customers and potential customers that allow organizations to automatically maximize overall approval rates, while minimizing fraud losses within their KYC, AML and Fraud programs. Socure’s ID+ combines multiple types of Machine Learning to continuously ingest, normalize and evaluate data from hundreds of online and offline data sources including credit bureaus, carrier phone records, IP addresses, social networks and more. This allows for real-time analysis of datasets at machine speed to achieve results far beyond the capabilities of humans and rules-based approaches. Socure was founded in 2012 and is headquartered in New York City with offices in San Diego, San Francisco and Chennai, India.

MEDIA CONTACTS

For Q2, Emma Chase

Red Fan Communications

O: (512) 551-9253 / C: (512) 917-4319

emma@redfancommunications.com

For Socure, Janine Savarese

Peppercomm

T: (212) 931-6147 / C: (908) 461-5767

jsavarese@peppercomm.com

Topics: Fraud Prevention, Identity verification

Socure

Socure

Socure is the leader in Day Zero digital identity verification technology. Its predictive analytics platform applies artificial intelligence and machine-learning techniques with trusted online/offline data intelligence from email, phone, address, IP, device, velocity, and the broader internet to verify identities in real-time. The company has more than 300 customers across the financial services, gaming, telecom, and eCommerce industries, including three of the top five US banks, eight of the top 10 card issuers, three of the top MSBs, the largest payroll service, the second-largest retailer in the world, and over 100 of the largest and most successful fintechs such as Varo Money, Public, Chime, and Stash. Socure recently received numerous industry awards and accolades including being named “Best New Technology Introduced over the Last 12 months – Data and Data Services” at the 2020 American Financial Technology Awards (AFTAs), ranked number 70 on Deloitte’s Technology Fast 500™, being named a Gartner Cool Vendor, recognized by Forbes as one of the “Top 25 Machine Learning Startups to Watch,” listed to CB Insights: The Fintech 250, and awarded Finovate’s Award for Best Use of AI/ML, to name a few. For more information visit www.socure.com.