Overview
In today's digital age, accurate identity verification is crucial for businesses to mitigate fraud risk while providing a seamless customer experience. That's where Socure, an AI-powered global identity verification solution, comes into play. Socure's ID+ platform employs advanced AI/ML algorithms to leverage the most complete view of customer identity, enabling organizations to make fully automated risk decisions with radical accuracy. By integrating multiple identity elements and incorporating data from a vast network of intelligence, Socure's platform maximizes accuracy, reduces false positives, and eliminates the need for disparate identity verification products. Let's delve into the key features and use cases of Socure's innovative AI tool.
Key Features
Complete View of Identity : Socure's ID+ platform utilizes every element of identity, orchestrated by advanced AI/ML algorithms. This comprehensive approach maximizes accuracy and reduces false positives.
Advanced ML + Unrivaled Data Sources : Socure's platform harnesses advanced AI/ML techniques and incorporates the most accurate and up-to-date data sources for every identity element. With over 17,000 predictive features, Socure enables real-time fraud detection and identity verification decisions.
Identity Graph Consortium Network : Socure's ID+ platform integrates a real-time network of intelligence from billions of predictions and outcomes at the world's largest companies. By leveraging the industry-leading consortium network, Socure delivers maximum results across all industries.
1 Platform, 1 API : Socure's ID+ platform provides a unified solution for various identity verification needs, including graph-defined identity verification, third-party identity fraud detection, KYC compliance, document, and selfie verification, watchlist screening, age verification, device risk assessment, email risk analysis, phone risk evaluation, and address risk assessment.
Unmatched Accuracy for Unparalleled Results : Socure's ID+ platform boasts impressive results, including up to 98% frictionless auto-approvals, up to a 95% reduction in third-party and synthetic identity fraud, a 13x reduction in false positives, and as much as a 90% reduction in manual review.
Use Cases
User Onboarding : Socure's ID+ platform ensures seamless, secure onboarding of new customers by accurately verifying their digital identity and predicting potential fraud risks.
Identity Proofing : With advanced AI/ML algorithms and extensive data sources, Socure enables organizations to establish the authenticity of individuals' identities during various interactions, such as account updates and password resets.
USA PATRIOT Act Compliance : Socure's platform assists businesses in complying with the USA PATRIOT Act requirements by verifying the identity of customers and detecting potential risks associated with money laundering and terrorist financing.
Age Verification : Socure's ID+ platform verifies the age of consumers to restrict access to age-restricted products or digital content, ensuring compliance with regulations.
Trust & Safety : By leveraging Socure's AI-powered identity verification, businesses can enhance trust and safety measures, protecting themselves and their customers from fraudulent activities.
High-Value Transactions : Socure's platform enables organizations to assess the risk associated with high-value transactions by analyzing various factors, including device risk, email risk, phone risk, and address risk.
These are just a few examples of how Socure's AI-powered global identity verification solution can be utilized across industries to enhance security, streamline onboarding processes, and strengthen compliance efforts. Socure's unmatched accuracy and innovative features establish it as a leader in the field of identity verification.
Conclusion
Socure's AI-powered global identity verification solution, the ID+ platform, revolutionizes the way organizations approach identity verification. By utilizing advanced AI/ML algorithms, incorporating comprehensive data sources, and leveraging a vast network of intelligence, Socure empowers businesses to make fully automated risk decisions with radical accuracy. From user onboarding to compliance requirements and high-value transactions, Socure's ID+ platform offers a range of features to enhance security, reduce fraud losses, and provide a seamless customer experience. By choosing Socure, organizations can trust in the power of AI to unlock the full potential of identity verification in today's digital landscape.
