Socure is partnering with the Social Security Administration (SSA) to provide their Electronic Consent Based Social Security Number Verification service. Socure’s Intelligent KYC will be the first solution with eCBSV integrated.
Available via Socure’s existing KYC module May/June 2021.
Who Can Participate?
A Financial Institution as defined by section 509 of GLBA*, a service provider, subsidiary, affiliate, agent, subcontractor, or assignee of a Financial Institution, who is signing this user agreement as a Permitted Entity.
Does it cover minors?
Yes, but a parent or legal guardian must sign the Written Consent and provide a birth certificate or court documentation proving the relationship.
How is consent captured?
An electronic form of consent that incorporates SSA specified consent language into the Permitted Entity’s or Financial Institution’s existing electronic business process (includes audio recording for contact center).
What happens to my data?
An automated audit trail record is created and stored for five (5) years.
I’m Enrolled, Next Steps?
The Socure team will help you: • Register • Update commercial agreements • Select deployment options (tiers and workflows) • Certify consent • Go live
United States depository institutions, including commercial banks, insured banks, thrift institutions, trust companies, U.S. branches of foreign banks, and all private banks and bankers
Credit card issuers or operators
Brokers or dealers in securities or commodities
Currency exchanges or parties involved in the transmission of funds
Futures commission merchants, commodity trading advisors, and registered commodity pool operators
Investment banks and bankers
Loan and finance companies
Individuals involved in real estate closings and settlements
Dealers in precious metals or gems
Gaming establishments with annual revenues exceeding $1 million
Other institutions, including travel agencies, and those engaged in the sale of cars, boats, and airplanes
Ready to see the power of Socure?
Request a demonstration or simply contact our sales team to learn more about Socure.