Socure and SpecTrust Partner to Seamlessly Deliver Digital Identity Verification and Fraud Solutions

SecurityNewsRegulation and Compliance Managment

By AIT News Desk On Sep 10, 2021

Joint solution to be demoed at FinovateFall 2021

Socure, the leading provider of digital identity verification and fraud solutions, and SpecTrust, a next-generation risk management platform, will offer the recently launched SpecTrust ROAM, a no-code fraud fighting platform, to work in conjunction with the industry-leading Socure ID+ digital identity verification and fraud solution. This solution will be demoed live at the upcoming FinovateFall on September 13 at 9:00 AM EDT, in New York City.

The Socure ID+ platform achieves industry-leading accuracy and breadth of coverage of good and bad identities and models, continuously updated with performance feedback data from Socure’s vast network of more than 500 customers. Through its proprietary AI/ML technology, Socure has disrupted the market by significantly reducing fraud and customer friction for companies across multiple online industries. Along with its mission to eliminate identity fraud and auto-approve more customers quickly, Socure powers financial inclusion—auto-approving up to 94% of hard-to-identify populations, including Gen Z, millennials, thin-file, credit invisible, and new-to-country consumers.

SpecTrust’s risk orchestration, assessment, and mitigation platform enables cybercrime defense teams to instantly identify attack signatures, launch deep investigations, automate defenses, and mitigate confirmed threats before they reach an application or website. This is done without writing a single line of code. SpecTrust ROAM unifies an enterprise’s teams, data, and tools into one platform to solve for risk and fraud challenges.

Together, the partnership will enable powerful user experiences by ensuring trustworthy interactions at account onboarding, account takeover, funds transfer, payments processing, and identity verification across numerous industries, including fintech, banking, credit union, eCommerce marketplace, and payment processing.

”Our alliance accelerates Socure ID+ integrations for our joint customers, enabling businesses to deploy identity verification and fraud solutions in a matter of minutes. When it comes to deploying and tuning defenses, enterprise risk and technology teams can enjoy the same streamlined experience they strive to deliver for their own users,” said Patrick Chen, SpecTrust COO and co-founder.

In an initial beta phase, SpecTrust client GiftDeals was able to integrate the joint solution without tapping any engineering resources. “GiftDeals selected SpecTrust to gain visibility across multiple internal and external services. We connected several of our internal systems without needing to utilize engineering resources. Through SpecTrust, we have a no-code platform to immediately access and take action on Socure’s identity verification intelligence for all of our internal and external services much faster than we could have achieved on our own,” said Brian Spring, General Manager of GiftDeals.