Socure Announces Industry-First Predictive Document and Identity Verification Solution with Unparalleled Precision and Multi-Dimensional Risk Insights

Solution Delivers Up to 98% Auto-Decision Rates for Increased Customer Conversions While Providing 99.5% Accuracy in Detecting Spoofing and Presentation Attacks

Socure, the leading provider of digital identity verification and fraud solutions, announced the industry’s first predictive document and identity verification solution with native fraud risk signals and intelligence. Socure’s Predictive Document Verification goes beyond simply authenticating a government-issued ID and matching a selfie to the photo on the ID, but also predicts whether or not the identity itself is safe to do business with by employing real-time data linking for better accuracy and real-time identity trust decisions.

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“With DocV, we gain confidence in knowing we are doing business with consumers who are who they say they are and won’t put our business at risk.”

With Socure’s Predictive Document Verification solution, hundreds of validation checks are performed on every document and selfie resulting in unrivaled auto-decision rates and risk insights. Its multi-dimensional predictive signals inform ML-driven decisioning to identify more good customers and eliminate fraudsters in real time.

“Socure’s Predictive Document Verification helps us onboard new customers quickly and scale more rapidly than we could with other tools. It is the only solution providing a single, comprehensive view on the digital identity, not just on document authenticity and matching, but for actual risk and fraud decisions. No other solution compares in terms of accuracy or insights,” said Alex Faivusovich, fraud prevention manager at Lili. “With DocV, we gain confidence in knowing we are doing business with consumers who are who they say they are and won’t put our business at risk.”

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Socure Predictive Document Verification’s advanced image capture delivers up to 98% auto-decisioning rates within seconds, whereas other, less sophisticated image capture tools result in only 65% to 70% auto-decisioning. Socure’s Predictive Document Verification also thwarts spoofing attacks with 99.5% accuracy by utilizing best-in-class, NIST PAD Level-2 liveness detection and enhanced biometrics to match the selfie to the photo on the ID. The liveness detection checks work passively in the background, so fraudsters can’t detect it’s happening. No user blinking or head rotation is required, reducing consumer friction. Unlike other tools, a single selfie image fulfills both facial recognition and liveness detection.

“The use of document identification and verification solutions to verify a user’s identity is growing due to the surge in online, digital interactions,” said David Mattei, senior analyst at Aite-Novarica Group. “Socure’s Predictive Document Verification product goes beyond traditional document validation and photo-to-selfie matching. It looks at other risk attributes such as device fingerprints, phone number, and other digital identity signals to deliver a more comprehensive risk profile of the user.”

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