Multibillion-Dollar Investment Firm Betterment Says 'Yes' to More Good Customers Instantly
Betterment taps Socure to unlock frictionless customer experience and boost auto-approvals by 30%. Helps company achieve mission of empowering people to do what’s best for their money so they can live better.
$32 Billion
Total money in good hands
2010
The year Betterment changed everything
700,000+
Customers
Challenges
- Increasing manual review rates
- Drop off for “good” customers
- Onboarding friction
- Lack of machine learning
Solutions
- Sigma Identity Fraud
- Socure KYC
- Predictive DocV with Liveness
- Email RiskScore
- Phone RiskScore
- Address RiskScore
- Global Watchlist Screening with Monitoring
- Alert List
Key Results
- Auto-approval rates improved by 30%
- Reduced onboarding time
- Holistic view of identity
- Reduced fraud
- Sophisticated, scalable onboarding checks
Deploying Socure’s technology has significantly increased our ability to accurately pinpoint identity theft while also enabling us to auto-accept more good applicants. Our manual account reviews have also decreased dramatically. The innovations delivered by Socure help us to stay ahead of fraud trends while continuing to provide an optimal experience for our customers.”
Mark Kassardjian, Director of Operations, Betterment