Socure, a leader in high-assurance digital identity verification, today announced that Erick Soto, Vice President of Product, will demonstrate Socure’s latest ID+ platform v3.0 at BankAI, an industry conference where practitioners and business leaders will share examples of their real world AI deployments.

Presenting on Monday, October 7 at 11 a.m. CDT in Chicago, Erick will demonstrate how ID+ integrates instantly into existing on-boarding or ID verification processes, providing the cornerstone of a solid KYC/CIP program. To experience the demo and learn more, please visit Booth 103 inside the exhibit hall during dedicated hours.

“Using our unique predictive analytics platform, we apply artificial intelligence and machine learning to both trusted online and offline sources of data to enable real-time identity authentication,” said Erick Soto, Vice President of Product for Socure. “Our platform has helped customers reduce their fraud by 85 percent, saving more than $50 million in financial losses. We are looking forward to demonstrating how our platform works to all attendees at BankAI.”

Socure’s 3.0 platform features a modular design and includes a single API to handle digital to physical identity verification. The combination of digital identity verification with an optional physical document authentication provides the greatest level of assurance achievable that an identity is valid, belongs to the user being verified and is risk free.

About Socure ID+

Socure’s ID+ uses patented machine learning (ML) & artificial intelligence (AI) technologies to establish trust in online transactions. The platform provides an instant, multidimensional view of customers and potential customers so that financial services organizations can automatically approve digital transactions. ID+ combines AI, ML and clustering algorithms to continuously ingest, normalize and evaluate data from hundreds of online and offline data sources including credit bureaus, email history, phone records, IP addresses, social networks and more. This allows for real-time analysis of massive datasets at machine speed to achieve results far beyond the capabilities of humans and rules-based approaches. ID+ applies predictive analytics to real-time transactions and assigns a risk score to identities, and this is used to determine whether a request should be auto-accepted or flagged for manual review by a fraud analyst.

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Socure is the leading platform for digital identity trust. 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 500 customers across the financial services, gaming, telecom, and e-commerce industries, including three of the top five banks, seven of the top 10 card issuers, three of the top MSBs, the top payroll provider, the top credit bureau, and over 100 of the largest and most successful FinTechs. Marquee customers include Chime, Varo Money, Public, Stash, and DraftKings. Investors include Accel, Commerce Ventures, Scale Venture Partners, Flint Capital, Capital One Ventures, Citi Ventures, Wells Fargo Strategic Capital, Synchrony, Sorenson, Two Sigma Ventures, and others.

Socure has received numerous industry awards and accolades, including being named to Forbes America’s Best Startup Employers 2021, being awarded Best New Technology Introduced over the Last 12 Months – Data and Data Services at the 2020 American Financial Technology Awards (AFTAs), being ranked number 70 in Deloitte’s Technology Fast 500™, being listed as a Gartner Cool Vendor, being recognized by Forbes as one of the Top 25 Machine Learning Startups to Watch, being named to CB Insights: The FinTech 250, and being awarded Finovate’s Award for Best Use of AI/ML, to name a few.

Contact

Janine Savarese
Savarese Communications
(908) 461-5767
jsavlowe@savcopr.com