Largest skill-based gaming operator utilizes leading identity verification platform to prevent fraud and accelerate business growth

Socure, the leading provider of digital identity verification and fraud solutions, today announced that PrizePicks, the largest skill-based fantasy gaming operator, has successfully implemented Socure’s identity technology into their popular skill-based fantasy sports platform. Socure’s robust approach has enabled PrizePicks to experience double-digit growth in new member approvals, reduce fraud losses, and drive massive growth in customer lifetime value.

Socure’s platform gives PrizePicks a unified approach to verifying new player identities in real time with a proven, trusted, end-to-end platform, including KYC verification and identity fraud identification. By applying analytics models that track and correlate identity attributes, the Socure platform produces reliable, consistent and accurate determinations on the legitimacy of an identity. Socure’s KYC solution delivers industry-best pass rates of up to 98% for mainstream populations and its Sigma Identity Fraud models achieve the highest fraud capture rates along with the lowest false positive rates in the industry, consistently capturing fraud in the riskiest 3% population by up to 90%.

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Prospective members that fail initial checks are escalated to Socure’s Predictive DocV to digitally verify the authenticity of identity documents, along with selfie analyses to verify biometric and physical identification card matches. Its Predictive DocV solution sets a new bar in accuracy, speed, user experience, and fraud reduction, far outpacing market competitors.

“Capturing fraud at the top of the funnel was a big ticket item for us at PrizePicks,” said Jay Deuskar, co-founder and CTO at PrizePicks. “Socure’s integrated capabilities for KYC, fraud and document verification are impressive and have helped us implement a powerful verification workflow in a single solution.”

PrizePicks customers are sports fans who want a sleek and intuitive experience, Socure optimizes the account onboarding experience, making sure potential members don’t drop out of the process due to unnecessary friction. With Socure, PrizePicks has gained a frictionless, highly-accurate solution that delivers a solid foundation of reliable identification and protection in an easy to use format that further enables rapid growth.

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