How Socure KYC Increases Coverage and Accuracy Performance, Boosting Customer Acceptance

How to accurately verify thin- to no-file prospects. These are your potential customers who may be new to the country, never had a bank account or credit card, just left for college so they don’t have a permanent address, or are just getting a job for the first time and therefore don’t have a long verifiable history.

Valid prospects can’t sign on as your customers simply because their credit files are thin. Legitimate populations who want to do business with you instead get turned away by your legacy identity verification provider (and then become your competition’s customers).

Patented AI and ML technology provide automated data curation from hundreds of sources, including telco, utility, streaming, military lending act, higher education, eCBSV (SSA), and much more. This opens the door to hard-to-verify populations and provides unrivaled auto-approval speed and accuracy for the validation of all prospects.

The most accurate identity coverage across all industries and markets, including for the hardest-to-validate populations. You seamlessly onboard previously unreachable prospects for new business growth.

How to fully trust in your identity validation completeness and correctness. This includes both false acceptance and false rejection of valid customers.

Poor correlation between only two sources—whether that’s due to typos or simply limited depth of validation—leads to inaccurate results. Identities are looked at only across a single binary match, which leaves massive gaps where bad actors can enter and good prospects can slip through.

Socure’s identity clustering looks holistically at each prospect, to generate and evaluate extensive records and identity footprints through multi-dimensional matching. Socure pairs broad coverage with advanced query tools to provide industry-leading accuracy up to 98% approval rates.

You’ll see +20-40% approval rates over legacy providers for hard-to-identify 18-23-year-olds, and increase your overall approval rates by +15-40% for your target audience—all while also reducing false rejects and boosting accuracy. Socure brings the business-critical, hard-to-identify demographics into your revenue stream.

Effort-intensive and costly manual reviews are often the only way to parse through false negatives and ensure true positives.

Because of incomplete or inaccurate identity correlation and shallow data sources, the verification process is full of gaps and outdated data. Manual review is the only way to resolve these issues. But that takes resources, time, and money—all while adding friction to your customers’ experience.

Socure’s unmatched data coverage, along with automated data ingestion and cleansing, informs the most comprehensive master records, as well as the largest repository of known good and bad identities.

With enhanced identities and better data, you get more accurate matches. And as the accuracy of those matches increases, the number of manual reviews decreases—all the way down to zero.

Today’s sophisticated digital customers expect seamless service delivery. Any friction is a reason to abandon your site and see if your competitors want their money instead.

With slow performance and response time, prospects face friction before they can become customers, often causing them to abandon the process.

Socure instantly matches user-inputted PII to a master record. Valid prospects seamlessly become customers, without friction on your end or theirs, as multiple correlations are made to determine an accurate outcome in milliseconds.

You hypercharge new customer onboarding, with a friction-free customer experience.