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The Green Sheet Online Edition

December 14, 2020 • Issue 20:12:01

New Products

Verify docs, reduce fraud with automated ID verification

Product: DocV
Company: Socure

Socure, a company that specializes in Day Zero digital identity verification, added DocV to its integrated identity engine and technology suite. Designed to expedite onboarding, reduce fraud and eliminate manual reviews across multiple channels, the solution can accurately verify government-issued IDs in seconds, according to Johnny Ayers, founder and CEO at Socure.

"DocV provides an extra layer of security at the top of the funnel, or [when] used in conjunction with Sigma Identity Fraud, Sigma Synthetic Fraud, Compliance Suite (KYC, AML), and Device Risk to maximize the trust in the identity being presented," Ayers said. "By combining multiple dimensions of an identity such as phone, device, and document into a single service, Socure enables our customers to achieve the highest degree of accuracy with the lowest degree of friction."

Ayers further noted that DocV works well as a stand-alone method. When used as a component of Socure's identity verification and fraud prevention suite, the solution can strengthen high-risk identity authentication. The integrated solution can potentially replace multiple vendors by consolidating specializations, such as know your customer (KYC), customer identification programs (CIP) and fraud decisioning workflows, he added.

Holistic fraud prevention

DocV checks multiple data points such as National Institute of Standards and Technology-level facial recognition, or liveness, to correlate with a submitted document, Ayers explained. It uses dynamic risk thresholds and 3D technology to examine consumer identities.

"DocV can confirm the authenticity of any government-issued ID, including more than 3,500 document types from around the world," said Peter Curtis, vice president, growth marketing at Socure. "As we continue to face a rise in sophisticated identity fraud attempts and our reliance on digital transactions increases, it is critical to process transactions quickly and securely."

Another benefit of using DocV in conjunction with Socure ID+ is that it combines multiple identity dimensions, Ayers maintained. This enables users to assess individual identities based on "something you have, something you are, and something you know," he stated, adding that this unified, automated approach to fraud and compliance is available through a single API.

Simple integrations

Socure's DevHub provides developers with guides, tools and resources to simplify integrations, Ayers noted. Socure's customizable interface enables clients to design the look and feel of the SDK. The user-friendly SDKs have a point-and-click graphical interface and require no coding. A business manager or product owner can configure these SDKs with a few clicks, he added. DocV can be integrated on mobile, web SDK or with a RESTful API. Developers have multiple options for integrating DocV as a standalone product or as a part the Socure ID+ product suite.

DocV can distinguish between legitimate and fraudulent high-dollar transactions. Its fast response times can help customers who are locked out of accounts or facing account takeover attempts. These capabilities are useful in financial services, telecommunications, healthcare, online gaming, real estate, digital currencies, sharing economies, and other industries.

Brandable, configurable

Ayers went on to say that Socure has put great effort into creating tools that enable customers to customize, white label and brand the DocV solution without relying on additional development resources. These tools enable clients and prospects to configure DocV for their own needs, he stated, while having control of the process.

Nearly 100 customization points, built directly into the customer dashboard, make the process intuitive and easy to use, Ayers added. This applies to color or design of the front-end app or specific list searches for anti-money laundering or matching requirements for KYC. "We have a huge ecosystem of GTM partners where customers can consume Socure's services through any number of our channel partners," Ayers said. "We also have deployed web SDKs in addition to native iOS and Android SDKs as well as JavaScript (JS) that help speed up deployments to as little as a few minutes." end of article

Website: www.socure.com Contact: peter@socure.com

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