Socure selfie biometrics helps investment platform capture UK clients
Biometric identity verification platform Socure has been chosen by a fintech client to help it conquer new markets.
The New York-based company will help U.S.-based investment platform Public acquire more clients in the United Kingdom by providing identity verification with selfie biometrics and liveness checks at account opening for British citizens. The company says that the partnership will allow Public to minimize the number of third parties in its work.
“Every new market comes with its own sets of opportunities and challenges, and the UK is no different,” says Dann Bibas, General Manager of International at Public. “We think UK customers want to invest in U.S. stocks with fewer costs and more tools at their fingertips. As we grow into new markets, we look forward to learning from our customers and improving Public’s offering accordingly.”
Public will be using Socure’s eKYC (Know Your Customer) solution. In higher-risk scenarios, Socure is promising that its Predictive DocV 3.0 software can overcome obstacles in validating the legitimacy of a government-issued ID.
DocV3.0 coaches users to submit usable images of IDs and selfies for face biometrics matching and can determine whether to reject or accept a credential in under 4 seconds. The software integrates technology from Berbix, which Socure acquired in June 2023. This week, Berbix received a patent for the “virtual authentication detection” technology that powers DocV 3.0.
Socure’s latest clients include fantasy sports gambling platform PrizePicks and digital lending company MeridianLink. The company also works with Chime, SoFi, Robinhood, Gusto, Public, Poshmark, Stash and DraftKings.