Socure launches RiskOS for identity verification and fraud prevention

Developed following the company’s acquisition of Effectiv, RiskOS combines a decision-making engine with existing identity verification systems to address the challenges posed by increasingly sophisticated fraud and evolving regulatory requirements. 

The platform is engineered to handle tens of thousands of real-time computations per second and comes with more than 50 pre-integrated third-party data feeds. Its no-code interface allows users to adjust workflows, integrate additional data sources, or update decision logic within minutes rather than weeks or months. 

RiskOS leverages a large dataset built from over 4 billion known outcomes across more than 2,800 customers in over 40 industries. This dataset supports its AI-driven identity verification process, which reportedly re-identifies 96.4% of previously verified identities. Each user is assigned a unique identifier that aids in monitoring changes, assessing risk, and tracking various data points, such as device information, email, phone numbers, transaction history, and behavioural patterns, over time.

Main uses cases

RiskOS is designed to support several applications aimed at managing identity risks and fraud. In consumer onboarding, the platform integrates digital identity and compliance checks with third-party data sources to streamline the approval process.  

For business onboarding, it automates Know Your Business (KYB) workflows to reduce manual processing and ensure compliance. The system also offers real-time bank account verification to confirm account ownership and prevent unauthorised transactions. Additionally, by analysing device signals, behaviour, and identity data, RiskOS provides measures to detect and mitigate potential account takeover attempts. For digital marketplaces, the platform supports trust and safety initiatives by enabling identity verification with minimal personal information. 

In the company press release, officials from Socure explained that the new platform expands the range of challenges the company can address by facilitating the integration of third-party solutions into its decision-making process. They also noted that the current applications in areas such as anomaly detection, workflow automation, and strategy optimisation mark the initial phase of incorporating advanced automation and intelligence throughout the customer lifecycle.