Money 20/20, Sunil Madhu, Artificial Intelligence, Identity theft

Reflections on Money2020 from a First-timer

Posted by Jeff Scheidel on Dec 5, 2018

As the premier outlet for vendors and customers in the financial services industry, Money20/20 is THE place to see the latest products in fintech, as well as learn about future trends. But like with Gartner Conferences or Oracle OpenWorld or the Identity Summit, you still have a measure of vendors who seem to be saying similar things. How can every vendor truly be the best? It takes a lot to rise above the noise and differentiate. We like to think Socure did that very thing this year. We were loud and fun, but we also proved that we’re three steps ahead when it comes to identity fraud prevention and auto-acceptance.

Identity verification, socure, Credit bureau, Millennials, Fraud, Identity theft

How to improve end-to-end customer life-cycle management through data science

Posted by Socure on Oct 2, 2018

In today’s digital world, identity verification is becoming increasingly important as the threat of identity fraud continues to grow. In 2017, there were more than 1,200 data breaches, with more than 2 billion separate identities stolen. Already in the first half of 2018, identity theft and synthetic identity attacks have more than doubled from Q4 of 2017. Traditional identity verification uses static rules and linear models applied to credit bureau data, which is often stale and easily accessible to fraudsters because, if we’re being honest, your birthday, Social Security number, and mother’s maiden name have already most likely been leaked in some previous data breach. So with these kinds of numbers, it’s clear that companies must rethink how best to originate user accounts online and develop new approaches for verifying their users. 

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