Socure launches intelligent KYC based on graph analytics and machine learning

Monday 15 June 2020 10:15 CET | News

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.

Socure offers its KYC solution both individually and as part of an end-to-end integrated engine for identity fraud, AML, and digital document verification. ​Combining ID+ KYC with fraud risk assessment can boost accuracy, auto-acceptance, with reduction to fraud losses.
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Keywords: KYC, iD, digital identity, IDV systems, Socure, graph analytics, machine learning, fraud risk, AML, identity fraud, document verification
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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