By making use of Socure’s identity verification and fraud platform, namely SocureID+, eCU Technology customers are enabled to verify and onboard consumers securely and accurately in real-time, eliminating friction at sign-up for legitimate users and blocking fraudulent applicants, while concomitantly reducing wait times and freeing up internal resources.
Consumers are looking for a digital-first, friction-free experience with financial institutions, which is considered critical in attracting and retaining new customers, and as the identity fraud landscape evolves, trust and security are paramount. Within this context, Socure officials believe the integration of Socure’s services into eCU Technology’s workflows to help ensure that their joint credit union customers can simplify their processes, expedite decision-making, prevent fraud, and increase consumer satisfaction.
Socure’s predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online and offline data intelligence from physical government-issued documents, as well as email, phone, address, IP, device, velocity, date of birth, SSN, and the broader internet to verify identities in real-time. Whereas other providers may boast more data, oftentimes they lack the advanced analytics required to derive reliable value from the data, and, in worst scenarios, output inconsistent risk results. Per the press release, Socure’s platform looks to deliver increasingly accurate and robust identity verification and proofing, Know Your Customer (KYC/CIP), fraud risk prediction, and document verification solutions in the market.
When commenting on the announcement, eCU Technology officials expressed enthusiasm towards the strategic partnership with Socure and the integration of their identity verification and fraud prevention services into the company’s workflows. As eCU Technology is committed to empowering its clients with the necessary tools to provide advanced experiences to their members, the partnership with Socure is in alignment with this mission.
More to this point, the spokesperson believes that by joining forces with Socure they can further strengthen clients’ ability to mitigate risks, prevent fraud, and build lasting relationships. Per their statement, the collaboration marks a step forward in the company’s ‘pursuit of excellence and innovation’, and they are looking to see how it will positively impact clients and their members alike.
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