NEW YORK--(BUSINESS WIRE)--Socure, a leading provider of predictive analytics for digital identity verification, today announced it was named a Cloud 100 Rising Star for 2018 by Forbes. Cloud 100 Rising Stars are the 20 fastest-growing cloud companies that are still too small or too young for the TheForbesCloud 100 list of the biggest and best private companies in the cloud. The company was also recently named anIDC Innovatorfor identity proofing by research firm International Data Corporation (IDC).
According to Forbes, “The Forbes Cloud 100 represents a who's who of the biggest and best private companies in the cloud, but it doesn’t tell the whole story. Right behind this year's winners is a new crop of underdogs, breakout up-and-comers in cloud computing who are looking to follow in their footsteps—or even come for their laurels.
At Socure, CEO Tom Thimot and cofounders Sunil Madhu and Johnny Ayers are using identity-verification software to create new opportunities for “credit invisible” people such as immigrants and young adults.”
“Being named a Forbes Cloud 100 Rising Star is a special honor and powerful validation for our business model and technology,” said Tom Thimot, CEO for Socure. “Our ability to solve the digital identity verification problem for financial institutions and payment processors using advanced data science techniques, including artificial intelligence and machine learning, addresses a huge market opportunity. The traditional credit bureau approach has run its course and can’t meet the digital and mobile-first requirements of today’s younger consumers.”
Socure ID+ Platform The patented Socure ID+ predictive analytics platform verifies whether digital identities are authentic, fake, synthetic, or stolen. It is powered by Aida, the world’s first digital identity verification robot, which combines artificial intelligence, unsupervised machine learning and clustering algorithms to validate customer identity from consented online, social, mobile, and offline data in real-time. By calculating risk and correlation scores, Socure ID+ empowers businesses to dramatically increase online transaction acceptance rates, as well as reduce manual reviews and fraud.
Socure is the leader in high-assurance digital identity verification. The company’s predictive analytics platform applies artificial intelligence and machine learning to trusted online/offline sources including email, phone, address, IP address, social media and traditional GLBA/DPPA data to authenticate identities in real-time. The Socure ID+ platform reduces fraud by up to 90 percent, lowers manual review/knowledge-based authentication (KBA) rates by as much as 80 percent, and automates Customer Identification Program (CIP), Know Your Customer (KYC) and anti-money laundering (AML) compliance initiatives.