Socure to release new version of its beyond-human predictive analytics platform

Socure will soon release version 3.0 of its beyond-human predictive analytics platform, codenamed Sapphire, which features a modular design and includes a single API to accommodate digital to physical identity verification. The company has partnered with global ID authentication solutions developer AU10TIX to help in document processing. Available October 1, Sapphire features an ID-plus solution that includes several modular offerings via a single API to validate consumer’s PII (email, phone, address, date of birth, SSN, passport, driver license), correlate the

Securefact, Socure partner on identity verification solution for Canadian banks

Securefact and Socure have partnered to provide Canadian banks and credit unions access to a range of identity verification solutions in an effort to digitally onboard and verify more customers faster. Securefact’s digital identification service SIDni, combined with Socure’s Social Biometrics Platform will provide Canadian financial institutions with advanced identity verification capabilities by applying machine learning techniques with biometrics and data intelligence from email, phone, IP, social media and the internet. “Our partnership with Socure further demonstrates our commitment to

Socure joins FIDO Alliance as a sponsor member

Socure announced it has joined the FIDO (Fast IDentity Online) Alliance to lower the overall dependency on passwords to securely authenticate users of online services, as well as decrease the risks of online identity theft and fraud. As a sponsor member of FIDO Alliance, Socure will provide its expertise in digital identity verification via social biometrics to the organization’s ongoing efforts in establishing industry-wide, open specifications to improve the authentication process. “Today, more accounts are created and used almost exclusively

Socure Social Biometrics platform seeing rapid adoption

Socure announced at the Money 20/20 convention that its Social Biometrics Platform is being used by financial institutions and other firms to authenticate the identity of consumers in more than 175 countries worldwide. Social biometrics platform verifies the authenticity of customer identities registered on websites and mobile applications in an effort to prevent financial fraud. Enterprises using Social Biometrics APIs achieve higher user acceptance rates with lower friction, fraud losses and manual review costs, said Socure. The company said the

Biometrics and law enforcement, new SIBA CEO, identity as a service and more top stories

Here’s a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week. SIBA appoints new CEO In what is arguably one of the biggest biometrics stories this week, Secure Identity & Biometrics Association (SIBA) appointed former Raytheon executive Michael T. Dougherty as the organization’s new Chief Executive Officer. Law enforcement The FBI has recently expanded its biometrics programs with two major developments that will reportedly impact Americans on a day to day level more than

Socure intros facial authentication solution for fraud prevention

Socure announced it has introduced Perceive, a new solution designed to curb potential online financial fraud by using facial recognition to confirm a person’s identity. Perceive features a range of capabilities to combat the threat of account takeover and enables secure login authentications – almost instantly – for high-value, high-risk transactions. Earlier this week, Socure CEO and founder Sunil Madhu demonstrated the technology at financial and banking technology conference Finovate Fall in New York City. Using the Socure Social Biometrics

Feedzai integrates Socure social biometrics platform into risk management solutions

Risk and fraud management software developer Feedzai announced it has partnered with Socure to provide their mutual clients with a “plug-and-play” solution that combines online and social biometric data-based authentication with fraud risk scoring. Feedzai will incorporate the Socure Social Biometrics platform as part of its Fraud Prevention That Learns software to quickly process big data to reduce fraudulent transactions, chargebacks and decrease manual reviews costs for financial institutions. The risk and fraud management firm has also made updates to

Social biometrics firm Socure raises investment from Flint Capital

Flint Capital an international venture capital fund investing across US, Israel and Europe, has joined a $2.5 million round to finance online identity verification firm Socure. Socure has raised more than seven million dollars of investment capital, to date, from various investors including ff Venture Capital, Two Sigma Ventures and Founder Collective. The company’s clientele includes some of the largest banks, remittance and payments companies, card networks, lenders, merchants and credit bureaus across 32 countries. Socure has developed and patented

Socure completes Safe Harbor certification for “social biometrics” solution

Socure announced it has completed the U.S.–EU and U.S.–Switzerland Safe Harbor framework self-certification process from the U.S. Department of Commerce, proving that it handles sensitive customer and client data according to European Union and Swiss privacy standards. “We understand and value the importance of keeping the data we process safe, secure, and private, and our Safe Harbor certification tells the world we can work with data from within the EU and Switzerland with confidence,” said Sunil Madhu, CEO of Socure.

Socure completes $2.5 million financing round lead by ff Venture Capital

Socure announced it has completed its $2.5 million Series A funding round led by ff Venture Capital, with contributions from Founder Collective and Two Sigma Ventures. The company’s Social Biometrics solution uses online and social behavior checks in real-time to verify the authenticity of customer identities registered on websites and mobile applications. Enterprises using Socure’s Social Biometrics APIs are able to accomplish higher user acceptance rates with less friction, fraud losses and manual review costs. Additionally, Social Biometrics brings enterprises