Socure Recognized as a Gartner Cool Vendor in AI for Banking and Investment Services
NEW YORK–(BUSINESS WIRE)–#AML—Socure, a leader in Day Zero digital identity verification, today announced it has been recognized in the April 24, 2020 Cool Vendors in AI for Banking and Investment Services report by Gartner, Inc.
The report identifies Socure as a Cool Vendor. It states, “Banks are optimizing operations via usage of AI technologies such as deep learning, predictive analytics and natural language processing. Technology and service providers in banking and investment services developing tools using AI methods should observe the selected vendors for disruptive ideas.” Specifically, the Gartner report recognizes vendors that “…are helping optimize operations at banking and investment services by assisting a wide number of organizations — including small and midsize banking and investment services institutions — in reducing cost, increasing revenue, improving customer experience and more.”
The Socure ID+ identity verification platform applies artificial intelligence and machine learning with trusted online and offline data intelligence to calculate an actionable “trust score” for digital identities in less than a second. It also provides users with a detailed explanation as to how it came to its conclusions, enabling financial institutions to have much greater confidence in their fraud protection programs, reduce the need for manual reviews, and optimize their resources.
“We are honored to be named a Gartner Cool Vendor for our use of AI and machine learning, which is the core of our business,” said Tom Thimot, CEO, Socure. “By utilizing advanced data science and machine learning techniques, we are able to improve the overall identity verification performance and user experience for banking and other financial institutions, as well as their customers.”
For more information about Socure and the ID+ identity verification platform, visit www.socure.com.
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Socure is the leader in Day Zero digital identity verification technology. Its predictive analytics platform applies artificial intelligence and machine-learning techniques with trusted online/offline data intelligence from email, phone, address, IP, social media and the broader internet to verify identities in real-time. Socure powers financial inclusion, increasing acceptance as much as 40 percent for millennials and other thin-file consumers. It also reduces fraud for online new account opening by up to 90 percent, lowers manually reviewed knowledge-based authentication (KBA) rates by as much as 80 percent, and automates Customer Identification Program (CIP), Know Your Customer (KYC) and anti-money laundering (AML) compliance initiatives. Socure was founded in 2012 and is based in New York City.
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