MKT 038 IS Public Sector Info Sheet FINAL2.pdf

Info Sheet

Socure

Delivering Trusted Identity to Power the Future of Government Services. Unmatched Accuracy in Identity Verification to Improve Program Integrity While Ensuring Inclusion.

Key Benefits

Socure delivers the most accurate and inclusive identity platform in a zero trust world. The company has proven this out with over 1,000 top enterprise customers in the U.S. across industries, including top government agencies and large financial institutions. Socure customers include four of the five top banks, seven of the 10 top credit card issuers, and over 250 of the largest fintechs. Socure is now offering its solutions to public sector agencies.

Socure enables government agencies to gauge whether an identity is real and actually belongs to the person applying for benefits and access to government services. Ultimately, Socure helps agencies modernize their approach to serving citizens, providing highly accurate, fully-automated decisions on identity, significantly reducing or eliminating the need for manual reviews, while improving program integrity and protecting taxpayer dollars from fraud.

Further, Socure's solutions provide the broadest and most accurate identity coverage available for all ages and demographics, including hard-to-verify citizens, such as thin-file and credit-invisible consumers. The company's platform ensures equity and inclusion in the assessment of identities for all individuals, including younger demographics, new-to-country, and historically underrepresented groups.

Socure Powers Digital Transformation for Government Agencies

Identity Verification

With the broadest identity coverage for every population and group available in the market, Socure's identity verification solution is unmatched in its ability to determine with confidence the validity of any identity online. Socure's capabilities go well beyond what legacy, credit bureau data-based solutions can deliver. With legacy systems, if one element of the PII fails an assessment, the entire identity decision fails or is sent for manual review, introducing friction and delaying citizens' access to benefits and services. Socure's machine learning-powered platform leverages multiple, redundant data sources to automatically assess each element of an identity, to accurately verify the identity and reduce the manual review queue.

Program Integrity

Fraud is dynamic, and ensuring the integrity of your program by identifying fraud before it can cause damage requires a modern, cloud-based approach as agencies work to digitize citizen interactions. With a repository of 530 million known good and bad identities, Socure detects risky behavior at the first interaction with a new identity and throughout a citizen's lifetime to deliver an AI-based proactive vs reactive approach. To stay ahead of the changing fraud landscape, our data and fraud models are continuously updated to ensure detection of new fraud attacks before they can scale.

Document Verification

For agencies requiring quick and accurate remote document verification, Socure's predictive document verification quickly confirms the authenticity of any identity document in circulation. An additional layer of security enables matching a photo of a consumer's identification with a selfie in under 15 seconds. Socure's document verification goes beyond simply matching the selfie to an authenticated government-issued ID by checking the validity of other identity elements on the ID such as name, date of birth, and address, ensuring all elements belong to the person presenting the ID, as well as the risk associated with the device. The solution is 100% software-driven, with no manual reviews required.

The Socure Approach

Socure's team of identity experts, fraud analysts, and data scientists work closely with our customers to understand the profile of their populations, develop risk strategies, and implement high-performance, cloud-based identity verification, fraud detection, and document verification systems.

Our solutions are trusted by four of the top five banks, seven of the top 10 card issuers, three of the top MSBs, the top payroll provider, the top credit bureau, top crypto exchanges, top Buy Now, Pay Later providers, the largest online gaming operators, and over 250 of the largest fintechs.

For more information, visit socure.com or contact us at sales@socure.com.