USD 35mln raised by Socure for digital identity verification and fraud prevention

Thursday 27 August 2020 12:50 CET | News

Socure has raised USD 35 million to support the growth of the company’s ‘Day Zero’ digital ID verification and biometric technologies.

The reason behind this is also to facilitate its machine learning capabilities, and further its identity fraud elimination mission. The investment round was led by Sorenson Ventures, with existing investors Commerce Ventures, Scale Venture Partners, and Flint Capital participating, along with new strategic investors Citi Ventures, Wells Fargo Strategic Capital, and MVB Financial Corp.

Biometric Update reports that Socure recently launched a module for document checking and biometric selfie capabilities with liveness detection to help financial institutions and other organisations meet toughening regulations and prevent sophisticated fraud attacks.

More: Link

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Keywords: Socure, digital identity verification, fraud, biometrics, iD, financial institutions, attacks, regulations
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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