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After flying every other week for literally decades, I recently took my first flight since the pandemic shut it all down, to attend Money20/20 in Las Vegas. I couldn’t believe how much I’d forgotten about the process. Booking, validating my known traveler number on my ticket, downloading my boarding pass, Uber to the airport, and TSA line.

I also ended up adopting a fellow traveler who had never flown by herself before and certainly never out of an airport as large as Chicago O’Hare. She was overwhelmed by the crowds, the mask mandates, the lines. I talked her through where she had to go. We went through different security lines, so when she popped out on the other side, I walked her to her gate and saw her off. I had come early anyway since, again, I didn’t know what to expect after such a long time away from the skies.

Socure Solves the Unknowns

There are a lot of unknowns in life. We didn’t know a pandemic was coming, or how we’d react, or how the authorities would handle it, and in fact, even they had to learn.

Socure’s customers deal with the unknown every single day. Each consumer who applies to them for credit cards, accounts, loans, crypto, insurance, whatever it is, is a potential risk. Even when these people are “known,” it’s not guaranteed that they are who they claim to be. Since the pandemic, there have been more fraudulent claims for unemployment than legit ones. This is what Socure addresses: we say “this person is who they say they are,” or “nope, they’re not.”

It’s more difficult for those just entering the job market or credit-worthiness space. They’re often called “thin-files” because not much exists in their credit-tracking manila folder. Not a lot of info is available about them in the multiverse that will easily show their bona fides. Therefore, it’s just as difficult for those financial organizations to bring them into the family: I’d like to trust you, Junior, but y’know, I’m just not sure. Nothing personal, but your background is thin.

Thin-File? No Problem

And here’s where Socure comes in again. Through our vast machine learning and the execution of our artificial intelligence, we’ve developed onboarding models that can do a lot with little data. Sure, the more you know about somebody, the easier it is to tie it all together into a holistic identity. But when you don’t have everything you want, you have to optimize what you’re given. Socure trains our platform on literally hundreds of millions of known outcomes from our extensive consortium. And after continually training on all those knowns, we’ve learned how to identify the unknowns. We can tell a good from a bad, with the industry’s highest level of accuracy. We auto-accept 60% more than the typical competitor, and capture 45% more fraud.

Socure lets in far more goods and rejects far more bads. In between, we drastically shrink the number of applicants who get subjected to unnecessary friction through KBA or manual review (and we provide integrated Predictive DocV for when a bit of friction is utterly required). This translates into far more revenue, and far fewer losses. We’re not just safeguarding your business, we’re enabling that business to confidently go forward and grow, just like we’re doing.

Visit Socure at Money20/20

Socure customers feel comfortable flying into the thick clouds of finance with us as their identity verification platform, out front to make the unknowns known. So if you want to know more about us, come check us out. And if you’re in Vegas for Money20/20, stop by our booth #2407. I guarantee you’ll know a whole lot more after speaking to Team Socure.

Posted by

Jeff Scheidel

Jeff Scheidel

Jeff Scheidel is a technologist with 38 years in software, including 26 years in security solution design. He is the author of numerous white papers on security and regulatory compliance, as well as a McGraw-Hill book on identity, access, database, and application protection. Jeff is an expert on compliance requirements across a number of industries, and has presented at a wide variety of security events.