News

Financing Will Accelerate Go-to-Market Strategy, Expansion

PRESS RELEASE

NEW YORK, NY – December 13, 2016 -- Socure, a pioneer in digital identity verification technology, today announced that it has closed a $13M round of funding led by Flint Capital, with participation from ff Venture Capital, Santander InnoVentures and Two Sigma Ventures, among others. The company will use the capital to scale operations, accommodating the 300% growth it has seen in 2016. The funds will enable Socure to more quickly innovate its digital identity verification platform, and continue to deliver the most predictive solution in the industry.  

Karen Webster and Socure’s Ken Allen hosted a digital discussion recently about how the payments and financial service providers should manage the digital identity crisis facing them and reliably authenticate consumers. One framework and 4 pillars later, they offered an approach that might help the ecosystem reconnect with its authentication ego-id-superego.

The smartest organizations are taking a layered approach to consumer decisioning,  by separating identity verification from credit determination. Big Data enables them to blend intelligence with conventional offline data for hyper-informed decisions, in a way that doesn’t cut corners on the best security practices. (PODCAST) 

Acquiring that financial health means financial institutions are able to not only know, but accurately identify, their customers.

But for many financial institutions, the use of credit as a determining factor on whether to provide access to banking products or not transforms the decision from one based on identity to one based on credit – a choice that can subsequently lock millions out of the financial world.