With Socure’s Predictive Document Verification solution, hundreds of validation checks are performed on every document and selfie resulting in unrivalled auto-decision rates and risk insights. Its multi-dimensional predictive signals inform ML-driven decisioning to identify more good customers and eliminate fraudsters in real-time.
“Socure’s Predictive Document Verification helps us onboard new customers quickly and scale more rapidly than we could with other tools. It is the only solution providing a single, comprehensive view on the digital identity, not just on document authenticity and matching, but for actual risk and fraud decisions. No other solution compares in terms of accuracy or insights,” said Alex Faivusovich, fraud prevention manager at Lili. “With DocV, we gain confidence in knowing we are doing business with consumers who are who they say they are and won’t put our business at risk.”
Socure Predictive Document Verification’s advanced image capture delivers up to 98% auto-decisioning rates within seconds, whereas other, less sophisticated image capture tools result in only 65% to 70% auto-decisioning. Socure’s Predictive Document Verification also thwarts spoofing attacks with 99.5% accuracy by utilising best-in-class, NIST PAD Level-2 liveness detection and enhanced biometrics to match the selfie to the photo on the ID. The liveness detection checks work passively in the background, so fraudsters can’t detect it’s happening. No user blinking or head rotation is required, reducing consumer friction. Unlike other tools, a single selfie image fulfils both facial recognition and liveness detection.
“The use of document identification and verification solutions to verify a user’s identity is growing due to the surge in online, digital interactions,” said David Mattei, senior analyst at Aite-Novarica Group. “Socure’s Predictive Document Verification product goes beyond traditional document validation and photo-to-selfie matching. It looks at other risk attributes such as device fingerprints, phone number, and other digital identity signals to deliver a more comprehensive risk profile of the user.”
Using proprietary computer vision technology, Socure’s Predictive Document Verification extracts document PII and verifies it by linking it to authoritative data sources, such as credit header, utility, telecom records, and more. From there, device, phone, and address data are also collected and evaluated during the onboarding process, and then Socure derives predictive signals like phone to name correlation, address to name correlation, device intelligence, and IP distance from the physical address, all elements that are nearly impossible to fabricate.
The amalgamation of these predictive signals informs a final decision (pass, reject, or resubmit), blocking risky attempts to enter a customer’s ecosystem while helping them onboard more legitimate customers faster, or identify existing good users with less friction. The hundreds of predictive signals incorporated into the document verification and biometric matching process provide the industry’s only digital identity continuum measuring against fraud risk.
Socure’s Predictive Document Verification employs the industry’s only machine learning classification models trained with 530 million known good and bad identities and 400+ offline/online data sources to assess risk. As massive quantities of data are critical to improve the accuracy of Socure’s Predictive Document Verification, Socure has developed a process for continuous improvement using feedback data from a broad range of clients representing multiple industries. Also critical to Socure’s fraud detection engine, is the incorporation of hundreds of highly predictive features that are unique to identity and device components that can indicate fraud intent to drive more predictive, data-driven outcomes.
Socure’s Predictive Document Verification also includes another industry-first feature. The name from the document is checked against Socure’s Global Watchlist module to match the identity against a wide range of enforcement lists for KYC and AML sanctions screening. This additional check prevents businesses from opening accounts or conducting transactional activity with high-risk individuals due to corruption, drug trafficking, terrorism, and other criminal activity.
Integration and Configuration:
Socure’s Predictive Document Verification is easy to integrate via direct API as well as Mobile and Web SDKs. The Mobile SDK is lightweight at only 5Mbs and available for iOS, Android, and React Native. It allows customers to integrate image capture seamlessly into their existing app, with advanced computer vision models for optimal user experience. The Web SDK delivers easy integration with a browser-based widget and capture app. It supports businesses in initiating requests via SMS/email links, QR code scans, or directly from a call center dashboard.
Socure’s Predictive Document Verification can be tailored to a brand’s standards or workflow using no-code, configurable dashboards, which include customisable logos, buttons, descriptions, SMS messages, and more. The mobile dashboard features 170+ customisable attributes, while the web dashboard features 100+ customisable attributes.
“Legacy providers that specialise only in identity document verification aren’t able to integrate seamless risk checks because they don’t have historical data, the machine learning engine, or the 1000s of predictive signals to deliver near perfect fraud classification. This means their customers are missing critical insights or are left with cobbling together disparate products that are costly to deploy and manage as they’re loaded with compounding false positives,” said Johnny Ayers, founder and CEO of Socure. “What’s worse, the legacy approach still leaves gaps in determining whether it’s safe to do business with a consumer and predict the likelihood that person will commit fraud in the future while frequently requiring multiple retries on the capture of the document. With Socure’s Predictive Document Verification, we provide a single solution that eliminates the guesswork, with the highest degree of accuracy and customer experience.”