How they describe themselves: Socure provides a real-time predictive analytics platform that combines the newest forms of machine learning and artificial intelligence with digital, offline and social identity data to deliver an industry leading identity verification and fraud prediction solution. Socure deploys its proprietary identity verification robot across email, phone, online/social, address, IP and traditional offline proprietary predictors to help clients better assess risk and substantially increase acceptance, reduce fraud losses, and optimize manual review/step up authentication for transactions and applications in the digital world.
How they describe their product/innovation: Socure is announcing the first-ever digital-to-physical identity verification platform at FinovateFall 2017. Socure is extending its digital identity verification platform to include an integrated Document Authentication service (powered by Au10tix) to determine the likelihood that a government issued ID is authentic and associated with the PII provided. The new service can be invoked at any point in the verification process based on our client’s needs. Socure now provides best-of-breed email, phone, and address riskScores, overall identity risk prediction, KYC and physical document verification on a single, integrated platform.
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms