Protecting Millions in Revenue: How a Tier 1 Bank Strengthened Fraud Defenses and Elevated the Customer Experience
Three of the top 10 banks in the U.S. replaced legacy, in-branch identity checks with Socure – cutting fraud losses, reducing customer dropoff, and delivering a faster, more seamless branch experience that saves millions annually.
The Challenge
- Tellers were rescanning documents up to three times per customer, adding more than 20 seconds with each retry as the line continued to grow
- Legacy solutions were unable to efficiently capture fraud–approving fraudulent users while rejecting good users
The Solution
- Deployed DocV across 2,200+ branches, automatically detecting the document’s orientation, flipping and rotating images without manual intervention
- Reduced resubmit rates and end-to-end processing time to under 10 seconds using accurate scanning technology
- Decreased customer friction and overall document decision time
- Centralized fraud intelligence across digital, branch, and call center channels, so a fraudster who fails online can’t simply walk into a branch and try again
The Impact
2.4x
improvement in counterfeit detection rate saving millions in potential fraud losses
Under 10s
end-to-end processing time reduced from minutes, with decision time under 1s
1s
decision speed
12x
reduction in false accept rates
3x
decrease in false reject rates
95%+
submission auto approval rate with less than .5% false accept and reject rates