Socure, a digital identity verification technology, has launched ‘Intelligent KYC’ based on advanced graph analytics and machine learning.
The new solution incorporates a wealth of data sources along with advanced graph analytics and unsupervised ML to produce expansive and actionable insights when it comes to identity verification. Businesses leveraging Intelligent KYC from Socure can achieve up to 20% higher auto-approvals vs. legacy IDV systems, according to the official press release.
Traditionally, KYC has primarily relied on credit bureau data and analytical approaches, sometimes lacking info on important segments of the population, such as thin-file millennials or new-to-country individuals. Socure’s ML solution incorporates many data sources, tapping into more than 310 million entities and three billion records from credit header and inquiry, utility, telecom, and other authoritative sources.
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