Alternative Data, ‘Digital Exhaust’ Provide Key Insights to Better Fraud Prevention, Digital Identity Verification

Socure is the sponsor of the “Future of Payments Fraud Summit” at the conference, where Madhu and other top executives from industry-leading firms such as the Federal Reserve Bank, Visa, and USAA will discuss ways for financial institutions to:

  • Mitigate against new vulnerabilities in digital payments;
  • Explore the next generation of authentication and find the balance between security and customer experience; and
  • Solve key risk management issues across the enterprise.

The BAI Payments Connect conference focuses exclusively on empowering payments leaders to make smart business decisions with an unbiased, 360° view of payments fraud, strategy and operations to drive positive change in their organizations.Socure Digital Identity Verification at BAI Payments Connect 2016

“We are delighted to open the discussion about innovating the way financial institutions look at digital identity verification,” Madhu said. “Digital identity has become a cornerstone of interacting with consumers. As more accounts are born and primarily reside online, fraud prevention is paramount--yet market forces dictate that processes be intelligent and low-friction to serve current customers and onboard new ones quickly.”

Socure and its flagship ID+™ digital identify verification solution leverage the Socure Social Biometrics Platform for real-time authentication. ID+ helps institutions resolve identities and comply with regulatory requirements for KYC/CIP and AML/OFAC, providing validation of all dimensions of a consumer’s digital identity, enabling them to optimize manual reviews and sharply reduce online fraud.  ID+ delivers real-time intelligence that can be used in automated decisioning to increase conversion rates, for fraud mitigation to reduce losses and improve false positives, and to meet regulatory requirements.

In addition, Socure recently became the first digital identity verification solution in the market with a completed SOC 2 report, an internationally recognized auditing standard created by The American Institute of Certified Public Accountants (AICPA). Socure’s compliance with SOC 2 Type 1 ensures that Socure is ready to meet the stringent governance and compliance constraints of financial institutions worldwide, more quickly and with faster and with greater accuracy than previously possible.

Find Socure in the expo hall at booth #209. CEO Sunil Madhu will be a part of the panel discussion on Tuesday, March 8th at 1:30pm entitled “Combatting Payments Fraud through Enhanced Tools and Technology,” 

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About BAI and BAI Payments Connect
BAI is passionate about the pursuit of trusted information, powerful tools, and actionable insights that provide financial services leaders with the clarity and confidence needed to prepare for tomorrow, while performing better today. For over 90 years, this has been our mission: empowering leaders to make smart business decisions, drive positive change, and move the industry forward. Because a strong financial services industry helps consumers, businesses, and communities thrive.

BAI Payments Connect focuses exclusively on empowering payments leaders to make smart business decisions with an unbiased, 360° view of payments fraud, strategy and operations to drive positive change in their organizations through actionable insights from industry experts, thought leaders and innovative solutions providers. The objective and comprehensive content covers all aspects of the payments ecosystem, giving payments leaders a holistic perspective and fresh ideas that can drive revenue and move their organizations forward. For more information visit:

BAI is the Bank Administration Institute and BAI Center. 

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Socure is the leading platform for digital identity verification and 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, healthcare, telecom, and e-commerce industries, including four 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, the top online gaming operator, the top Buy Now, Pay Later provider, and over 100 of the largest 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.


Janine Savarese
Savarese Communications
(908) 461-5767