Financial services institutions are increasingly looking to the digital channels to acquire new customers. A large and growing portion of new bank customers tend to be millennials, who comprise over one-quarter of the global population and are now the largest demographic segment in the United States.

SOC2 compliance

Banking Services for a New Market Segment

Because the millennial population almost exclusively uses digital channels for communication, shopping, and financial needs, understanding how to serve this market segment is critical. The problem banks face, however, is that much of the millennial population (and most of the unbanked/underbanked) have little to no traditional credit bureau data to use for identification purposes.

Acquire New Customers with Less Credit Data

Several of the largest and most innovative banking providers trust Socure to provide accurate, secure, reliable, and compliant digital identity verification services. Socure’s intelligence goes far beyond traditional credit data to include additional offline and online data available from both public and private sources. Socure applies sophisticated, proven machine learning and artificial intelligence techniques to the data to produce the most accurate and reliable results possible.

Socure is the only identity verification vendor to achieve SOC2 compliance certification and employs a comprehensive model governance process utilized at top tier financial institutions.

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