Socure Recognized as a Leader in the October 2024 Gartner^® Magic Quadrant^™ for Identity Verification

It’s a big week at Socure — we’re excited to share that we’ve been named a leader in the inaugural October 2024 Gartner^® Magic Quadrant^™ for Identity Verification.

We believe this recognition reflects our consistent focus on delivering innovative, accurate, and customer-centric identity verification solutions.

We’ve demonstrated our team’s unwavering dedication to developing best-in-class identity verification solutions, and this relentless focus on innovation and our customers’ success drives us to continue setting high standards in the industry.

Leading with Fraud Prevention

Our Predictive DocV product is the first identity verification solution in the industry to offer a layered defense for document verification. Beyond the document forensic analysis and comparing a government-issued ID to the user’s selfie, DocV also analyzes PII, barcodes, and device and behavioral intelligence.

This comprehensive approach accurately detects and prevents deepfakes, fake IDs, and stolen or fabricated identities from entering the digital economy. DocV plays a crucial role in our mission to verify 100% of good identities in real time and eliminate identity fraud on the internet.

October 2024 Gartner^® Magic Quadrant^™ for Identity Verification

Fraud prevention is at the core of what we do at Socure, and our dynamic platform allows us to integrate data from diverse vectors, uniquely positioning us to lead in fraud prevention.

We go beyond basic document and biometric verification to answer the fundamental question, “Is this actually you submitting this application?” By combining data from document analysis, selfie, device, behavioral patterns, and even phone data (during an SMS handoff) with Socure Graph Intelligence, we provide an unparalleled, holistic view of identity.

Enhancing the User Experience

A seamless user experience is central to Socure’s mission. Our goal is to get the best image quality on the first capture attempt, reducing the need for resubmission.

This careful design has led to:

• 96% auto-decision rate in production
• 98% true accept and true reject rates
• All in less than two seconds, enhancing both efficiency and customer satisfaction

Ensuring Accessibility and Inclusion

Accessibility is central to our mission of verifying 100% of individuals. Our team works diligently to ensure our products are accessible across all channels, meeting WCAG 2.2 guidelines and surpassing industry standards for inclusivity. Beyond traditional screen reader support, we utilize on-device computer vision models to provide voice-guided assistance, helping users capture high-quality document images effortlessly.

Maximizing Value for our Customers Through Automation

We are leading the charge in maximizing automation. Our goal is to provide exceptional value by streamlining our customers’ decision flows and enhancing scalability and reliability — without sacrificing accuracy and protection.

In-house computer vision models power automation for the entire DocV solution. This starts with the guided capture app that verifies image quality at each step, to the patented fake ID detection that identifies fabricated documents, to dynamic biometric verification checks that are continuously trained to catch spoofing attempts and sophisticated deepfakes. DocV delivers an automated response in under 2 seconds, with real-time quality checks on both device and server-side to power high confident decisions with fewer resubmits, minimizing the time a user spends in the verification process.

Expanding Use Cases

It’s critical to re-verify and confirm the authenticity of a customer’s identity after it has already been verified previously. Reverification is typically done when there are security concerns, such as suspicious activity or changes to account details, or when a long period of time has passed since the initial identity verification.

DocV now goes beyond onboarding with Selfie Reverification and Secondary Document Capture, broadening the capabilities of our identity verification solutions to protect our customers and consumers.

Access October 2024 Gartner^® Magic Quadrant^™ for Identity Verification

We’re grateful to Gartner^® for this recognition. We also want to extend our heartfelt thanks to our customers for their trust and collaboration. Your feedback and partnership have been instrumental in driving our innovation and success. We look forward to continuing our work to build a more secure and inclusive future for identity verification.

Download a complimentary copy of the report here.

About Gartner^® Magic Quadrant^™:
The Magic Quadrant report is the culmination of rigorous, fact-based research in specific markets resulting in a non-biased wide angle view of the relative position of providers in the market segment. Gartner evaluates each vendor and based on their assessment positions them into one of four quadrants: Leaders, Challengers, Visionaries, and Niche Players. The Magic Quadrant for Identity Verification report enables businesses to gain deep insights into the identity verification market and assess how vendors in this space align with their unique business and technology requirements.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Socure.