SYS-CON MEDIA Authors: Zakia Bouachraoui, Liz McMillan, Carmen Gonzalez, Roger Strukhoff, David Linthicum

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Socure Wins 2019 API World Award for Best in Data APIs

Socure, a leader in high-assurance digital identity verification, was awarded the 2019 API Award for Best in Data APIs by API World. Regarded as one of the most prestigious recognitions in the industry, the awards celebrate the technical innovation, adoption and reception of APIs and Microservices, including use by a global developer community.

This year, the API Awards received hundreds of nominations, and the Advisory Board to the API Awards selected Socure based on three criteria: (1) attracting notable attention and awareness in the API industry; (2) general regard and use by the developer & engineering community; and (3) being a leader in its sector for innovation.

“Today’s cloud-based software and hardware increasingly runs on an open ecosystem of API-centric architecture, and Socure’s win is evidence of their leading role in the growth of the API Economy,” said Jonathan Pasky, Executive Producer & Co-Founder of DevNetwork, producer of API Word & the 2019 API Awards. “Socure is an exemplary example of the API technologies now empowering developers & engineers to build upon the backbone of the multi-trillion-dollar market for API-driven products and services.”

“We are honored to have won this award,” said Tom Thimot, CEO of Socure. “This recognition underscores our commitment to identity verification – and our ability to eliminate fraud across industries in real-time.”

Socure provides a real-time predictive analytics platform that combines the newest forms of machine learning and artificial intelligence with digital, offline and social identity data to deliver the most accurate and robust KYC, identity verification and fraud risk prediction solution in the market. Socure deploys its advanced identity verification robot across email, phone, online/social, address, IP, physical documents and traditional offline proprietary predictors to help clients better assess identity risk and substantially increase acceptance, reduce fraud losses, and optimize manual review/step up authentication for transactions and applications in the digital world.

From a single RestFul API, Socure delivers best-of-breed email, phone, and address riskScore, NAPE correlation models, overall identity fraud risk prediction, KYC/CIP, AML Watchlist and physical document verification services. To learn more, please visit Socure and follow our blog.

About Socure ID+

Socure’s ID+ uses patented machine learning (ML) & artificial intelligence (AI) technologies to establish trust in online transactions. The platform provides an instant, multidimensional view of customers and potential customers so that financial services organizations can automatically approve digital transactions. ID+ combines AI, ML and clustering algorithms to continuously ingest, normalize and evaluate data from hundreds of online and offline data sources including credit bureaus, email history, phone records, IP addresses, social networks and more. This allows for real-time analysis of massive datasets at machine speed to achieve results far beyond the capabilities of humans and rules-based approaches. ID+ applies predictive analytics to real-time transactions and assigns a risk score to identities, and this is used to determine whether a request should be auto-accepted or flagged for manual review by a fraud analyst.

About Socure

Socure is the leader in high-assurance digital identity verification technology. Its predictive analytics platform applies artificial intelligence and machine-learning techniques with trusted online/offline data intelligence from email, phone, address, IP, social media and the broader Internet to authenticate identities in real-time. Socure powers financial inclusion, increasing acceptance as much as 40 percent for millennials and other thin-file consumers. It also reduces fraud for online new account opening by up to 90 percent, lowers manually reviewed knowledge-based authentication (KBA) rates by as much as 80 percent, and automates Customer Identification Program (CIP), Know Your Customer (KYC) and anti-money laundering (AML) compliance initiatives. Socure was founded in 2012 and is based in New York City.

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