Socure is a predictive analytics platform that utilizes machine learning algorithms to verify digital identities of consumers in real-time. This technology mitigates the risk of fraud and enhances compliance for businesses by ensuring accurate identity verification.
Funding
$95M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+5Founders
Product
Problem
Businesses face increasing challenges in accurately verifying digital identities, leading to fraud losses and compliance issues. Traditional identity verification methods often fail to detect sophisticated fraud attempts and can create friction for legitimate customers.
Solution
Socure offers an AI-driven platform that provides comprehensive digital identity verification and fraud prevention. The platform, RiskOS™, leverages machine learning and a vast network of online and offline data to verify identities in real-time. Socure's technology analyzes various data points, including email, phone, address, IP, device information, and behavioral patterns, to create a dynamic, 360-degree view of each identity. This approach enables businesses to automate risk and trust decisions across the customer lifecycle, from onboarding to authentication and transactions. Socure's recent acquisition of Effectiv further enhances its capabilities by integrating real-time decisioning, transaction monitoring, and know-your-business (KYB) solutions into its platform.
Target Audience
Socure primarily serves financial institutions, fintech companies, government agencies, and e-commerce businesses that require robust identity verification and fraud prevention solutions.
Features
- AI-powered platform with machine learning for accurate identity verification and fraud prevention
- RiskOS™ decisioning engine for customizable risk strategies and workflows
- Digital Intelligence for device and behavioral biometrics analysis
- Socure Verify+ for precise and inclusive identity verification
- Global Watchlist Screening with Monitoring for sanctions and PEP screening
- Sigma Identity Fraud and Synthetic Fraud models for third-party and synthetic fraud detection
- Email, Phone, and Address RiskScores for assessing risk associated with contact information
- Predictive DocV for ID document and biometric verification with liveness detection
- API access for seamless integration into existing systems
- Case management tools for streamlined manual reviews and investigations