Debra Geister: The compliance landscape over the last several years is very different than it was. We’ve shifted from an in person environment to a more digital environment. And in order to keep up with that, technology has changed. Everything has changed about the way that we do business. The Socure identity verification solutions really are focused on making sure that we can address every customer journey out there.
Socure works very hard to provide a full suite of identity verification solutions that allows us to mitigate risk, identify and verify the customers that are in their portfolio, to be able to identify sanctions and risk. All of those things are tenet to how we build the Socure ID verification solutions to give them that flexibility and that capability to be dynamic.
Josh Linn: At the forefront of the industry, Socure’s data coverage takes a pioneering approach. We intentionally curate data sets for those that are most impacted by systemic oppression, like new to country, underbanked, credit invisible, even some of the most marginalized communities, ultimately building a more inclusive product that ultimately benefits everyone.
Our comprehensive approach means increased auto acceptance, increased fraud coverage, lower false positives, lower total cost of ownership, and smarter risk assessments.
Debra Geister: The data gives you a baseline set of information, but machine learning, artificial intelligence and those dynamic algorithms that allow us to be able to do a better job of identifying, those are the real superstars that help supercharge that data.
A lot of the identity verification solutions that are out in the marketplace today that have been there for quite some time, they are very focused on static technologies. The challenge with that is it provides a lot of inaccuracy in the way that they classify data in some cases. And we’ve seen this in up to 5 percent of the population that it’s just the wrong answer.
So I think in order for us to be able to be much more tuned into the changing environment and the dynamic nature of financial crime today, we have to have things like machine learning and AI as opposed to living in those legacy worlds.
Josh Linn: Our models don’t just follow patterns. They constantly adapt to identify evolving fraud tactics, looking at anomalies, historical depth of intelligence, and either agreement or disagreement even between data sets. And it’s that sort of dynamic learning that’s our competitive edge, producing the most precise and incisive results in the market.
Debra Geister: There are a number of what we call enablement tools to help support our businesses. Solutions like case management allow our customers to be able to respond. We also have a no-code decision capability that allows our customers to be able to respond very quickly to changes or to align with policy, whatever they choose to do using our identity verification solutions.
And finally, we also recognize that in the world of fintechs today, there is a banking as a service provider that’s behind the scenes. Socure is putting out into the market a capability that allows them to manage their portfolio at a single view, to have those demonstrable controls, and to be able to provide audit for their fintechs.
Josh Linn: Our AI driven identity verification solutions create a seamless user experience while minimizing friction and maximizing security. Legitimate users get swift access to services boosting their satisfaction, and our clients benefit from higher trust and loyalty. Socure’s approach isn’t just about improving customer experience, it’s about redefining it.
Socure’s data coverage isn’t just a checkbox, it’s a decisive advantage. Our AI powers combined with commitment to enhancing customer experiences position us not only as a market player, but as a market leader. We’re rewriting the rules, setting new landmarks. and giving businesses an unmistakable edge in today’s competitive landscape.
Socure provides the radical accuracy that our customers demand to face today’s new challenges.