INCLINE VILLAGE, Nev., June 30, 2022†BUSINESS WIRE†socurethe leading provider of digital identity verification and fraud solutions, today announced it has been voted “Best Decision Intelligence Company” in the 5e annual AI Breakthrough Awards program conducted by: AI breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global artificial intelligence (AI) market. Socure beat a highly competitive field of new and legacy providers and was recognized for its innovation, product design, user experience and overall technological advancement.
Socure is the industry’s leading and most valued identity verification company. The graph-defined identity verification and fraud platform combines advanced machine learning and AI with all core elements of a consumer’s identity, including device and behavioral biometrics to deliver the most accurate and robust identity verification and proofing, Know Your Customer (KYC) and fraud risk prediction solutions in the industry.
The company has more than 1,000 customers in the financial services, government, online gaming, healthcare, telecom and e-commerce sectors, including four of the top five banks, seven of the top 10 card issuers, the top three MSBs, the top payroll provider, the best credit bureau, the best Buy Now, Pay Later (BNPL) providers and over 250 of the largest fintechs.
Customers rely on the platform’s ability to not only provide the industry’s most accurate identity fraud classification model, but also deliver unparalleled accuracy with automatic approval rates of up to 98% for mainstream demographics and up to 94% for the hard-to-find. identify populations such as Gen Z, millennials, credit invisible, thin file, and new-to-country. This significantly reduces false positives, manual reviews and friction with customers, while hiring more good consumers quickly and safely.
“Millions of people who are bankrupt, without credit, or otherwise excluded from commercial offers and even government programs because of inaccurate, outdated identity verification solutions are unable to access services and benefits online. Unfortunately, solving both fraud protection and monetization needs was a largely unresolved challenge,” said James Johnson, director of AI Breakthrough. “Socure’s predictive analytics platform leverages groundbreaking AI and ML techniques with trusted online and offline data sources to accurately verify identities in real time — a true breakthrough in decision intelligence that we’re proud to recognize in our 2022 AI Breakthrough Awards program.”
The mission of the AI Breakthrough Awards is to honor excellence and recognize innovation, hard work and success in a range of AI and machine learning related categories including AI Platforms, Deep Learning, Smart Robotics, Business Intelligence, Natural Language Processing, industry-specific AI applications and much more. This year’s program attracted more than 2,950 nominations from over 18 different countries around the world.
About AI breakthrough
Part of Technical breakthrough, a leading platform for market intelligence and recognition for global technology innovation and leadership, the AI Breakthrough Awards program is dedicated to honoring excellence in artificial intelligence technologies, services, companies and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including AI Platforms, Robotics, Business Intelligence, AI Hardware, NLP, Vision, Biometrics and more. For more information visit AIReakthroughAwards.com†
Socure is the leading platform for digital identity verification and trust. The predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from physical government-issued documents, as well as email, phone, address, IP, device, speed, date of birth, SSN and the wider internet to verify identities in real time. The company has more than 1,000 customers in the financial services, government, gaming, healthcare, telecom and e-commerce sectors, including four of the top five banks, seven of the top 10 card issuers, the top three MSBs, the top payroll provider, the best credit bureau, best online gaming operator, best Buy Now, Pay Later (BNPL) providers and over 250 of the biggest fintechs. Marquee’s clients include Chime, SoFi, Varo, Gusto, Public, Stash and DraftKings. Socure’s clients have become investors in the company, including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, Voyager and Synchrony. Other investors include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures, and others.
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