Onboard More Good Customers with Unmatched Fraud Detection

Everyday, Socure runs hundreds of product bake offs against competitors.

In this production data, we see endless proof that your identity verification solution providers are approving hundreds of thousands of high-risk users

If you think radical accuracy doesn’t matter, take a look at the risky identities that our competitors allow in your doors.

30% of high-risk individuals approved by competitors “live” at prisons, cemeteries, and other suspicious commercial addresses.

But that is only one among many interconnected risk indicators.

One global identity verification software provider approved this guy using a stolen identity on a gaming platform.

Here’s what Socure detected:

• Address is a prison
• Potential residential IP proxy with anomalous volumes
• Suspicious copy and paste behavior for name fields
• Old Android device where identity history calls for latest IoS device
• AI-generated email designed to look legit
• Email domain is part of a high-velocity fraud attack

20% of all high-risk individuals approved by competitors are actually…dead people.

But that is only one among many interconnected risk indicators.

One credit bureau approved this money mule who was linked to a laundering scheme.

Here’s what Socure detected:

• Fraud ring attack using bots
• Identity reported deceased
• Anomalous velocity of new applications across the Socure network
• Historic unmatched email-to-name correlation
• Devices is potentially emulated
• Application speed too rapid
• Impossible travel detected

20% of high-risk individuals approved by competitors were using children’s stolen SSNs.

But that is only one among many interconnected risk indicators.

Another identity verification provider approved this synthetic identity, leading to first-party bust-out fraud.

Here’s what Socure detected:

• SSN is for a child
• Email address is <180 days old
• Email uses suspicious character patterns
• Phone number has in service between 7 and 30 days
• Socure network reports 3+ closed accounts within 90 days
• The Socure network reports multiple accounts with 5+ registered users

Thousands of high-risk individuals approved by competitors pass fake IDs that feature the same photo and different PII.

But that is only one among many interconnected risk indicators.

One global identity verification software vendor approved this woman on a dating website who is conducting romance scams.

Here’s what Socure detected:

• Same image shows up on multiple states’ IDs
• GenAI-generated ID template
• Machine-generated gibberish email address
• Prepaid phone associated with a high-fraud rate carrier

Socure would have blocked these fraudsters and auto approved up to 40% more good customers than all our competitors

We reduce fraud, convert more good customers, and lighten the operational load.

• 90% reduction in stolen or synthetic identities and deepfakes
• 94% auto decisioning on difficult-to-verify applicants (Gen Z)
• <2% riskiest populations sent to review

…with 25x ROI and tens of millions in incremental annualized dollar value.

Radical accuracy in identity.