Proof integrates Socure biometrics and anomaly detection to secure business agreements

The contracts, authorizations and forms that set out agreements between businesses and consumers represent a $200 trillion market, and Proof has tapped Socure’s expertise in synthetic identity and fraud detection to address that market with a new software product.

Defend from Proof combines more than 100 behavioral and data signals to look for fraud in business agreements. Socure contributes its Sigma Fraud suite for identity verification with or without biometrics, depending on the transaction, risk assessments based on behavior history and anomaly detection. Sigma Fraud is also fueled by data from the Socure Risk Insights Network, which draws on a consortium of 2,400 customers.

The combined platform analyzes PII, barcode data, device and behavioral intelligence, geolocation, and biometrics.

Proof is targeting the real estate, mortgage, auto, retirement, banking, legal services, and other industries.

“Partnering with Proof allows us to uniquely ensure identity-assured transactions for contracts, authorizations, forms, and high-risk financial events across various sectors,” says Socure Founder and CEO Johnny Ayers. “Our strategic visions are perfectly aligned, and together, we’re poised to redefine the standards of what’s possible.”

“Fraud is an increasingly serious problem across all industries, and companies need multi-layered defenses to help prevent billions of dollars in losses,” said Pat Kinsel, CEO of Proof. “Adding Socure’s digital identity verification capabilities to Defend, our fraud detection and prevention product, allows customers to secure transactions at every stage, quickly and accurately. We can’t think of a better partner and are excited to introduce Socure to Defend clients.”

Article Topics

biometrics  |  fraud prevention  |  identity verification  |  Proof  |  Socure  |  synthetic identity fraud