Trustly and Socure Partner to Offer Open Banking Pay-by-Bank Solution with Enhanced Onboarding

By Julie Muhn (@julieschicktanz) Posted on

Online payments expert Trustly and digital identity verification and fraud solutions provider Socure are combining their expertis, to launch a pay-by-bank solution with enhanced onboarding, leveraging the power of open banking. The new tool will offer businesses in a range of sectors– including investing, gaming, trading, and financial services– streamlined onboarding capabilities combined with pay-by-bank Read more…

Socure Makes $70 Million Acquisition

By Julie Muhn (@julieschicktanz) Posted on

Digital identity verification company Socure has acquired automated identity verification solution Berbix for $70 million. The deal marks the first-ever acquisition for Nevada-based Socure. Founded in 2018, Berbix launched a document verification solution with a forensics engine that detects spoofed IDs – including AI-generated fake IDs. Socure will leverage this technology to accelerate its international Read more…

Digital Identity Verification Specialist Socure Partners with Payments Innovator Alacriti

By David Penn Posted on

Socure and Alacriti have teamed up to bring third-party and synthetic identity fraud prevention to instant payments. The partnership will enable financial institutions to use end-to-end, turnkey, instant payment solutions with the benefit of integrated fraud prevention. This will benefit FIs using Alacriti’s Cosmos Payments Hub, which enables institutions to offer their customers modern money Read more…

Socure and Middesk Forge Industry-First Integrated KYB/KYC Verification Solution

By David Penn Posted on

Identity verification and fraud solution provider Socure is teaming up with business verification and identity platform Middesk. The partnership is the first instance in which two Know Your Business (KYB) and Know Your Customer (KYC0 innovators have created an integrated, end-to-end business verification solution. Socure, a Finovate alum since 2013, has raised more than $646 Read more…

Socure Locks in $450 Million in Series E Funding; Earns Valuation of $4.5 Billion

By David Penn Posted on

Digital identity verification and fraud solution provider Socure has scored $450 million in what the company called a “significantly oversubscribed” Series E funding round. The investment comes just seven months after the company’s $100 million Series D round, and boosts Socure’s valuation to $4.5 billion. “With this additional capital, we will substantially increase our level Read more…

Socure Secures Strategic Investment from Capital One Ventures

By David Penn Posted on

Digital trust and identity verification innovator Socure announced today that it has received a strategic investment from Capital One Ventures, Capital One Financial Corporation’s venture capital division. The amount of the investment was not disclosed, but it adds to the $196 million the company has raised to date. This sum includes a $100 million Series Read more…

Socure Secures Funding from Citi and Wells Fargo

By David Penn Posted on

In a round led by Sorenson Ventures, identity verification innovator Socure has locked in $35 million in new funding. The investment, which takes the company’s total capital to $96 million, featured the participation of three new funders: Citi Ventures, Wells Fargo Strategic Capital, and MVB Financial Corp, as well as existing investors Commerce Ventures, Scale Read more…

Socure Unveils New Digital Identity Verification Solution Intelligent KYC

By David Penn Posted on

Digital identity verification specialist Socure has introduced a new solution to help accelerate and scale customer acquisition. Intelligent KYC, launched last week, leverages advanced graph analytics, unsupervised machine learning, and a sizable volume of data sources to give businesses higher auto-approval rates compared to legacy identity verification systems, as well as fewer manual reviews. “In Read more…

Identity Verification Specialist Socure Raises $30 Million

By David Penn Posted on

Socure is the latest identity verification and fraud prevention innovator to attract the interest of – and big investment from – fintech’s venture capital community. The New York City-based company, which demonstrated its digital-to-physical identity verification platform at FinovateFall 2017, has scored $30 million in new funding in a round led by Scale Venture Partners. Read more…

Identity Risk Scoring from Socure Helps Radius Bank Reduce Online Fraud

By David Penn Posted on

A partnership between AI-powered identity risk scoring innovator Socure and workflow management specialist Alloy has enabled Radius Bank to decrease online fraud by 50%, increase new account conversions by 30%, and make manual review nearly a process of the past – reducing it by 95%. The joint solution marries Socure’s predictive analytics with Alloy’s decisioning Read more…