Socure, the leader in Day Zero digital identity verification, announced DocV, a fully-automated omnichannel document verification service that expedites onboarding, reduces fraud, and works to eliminate costly manual reviews. Combining the power and scale of machine learning to accurately verify the authenticity of government-issued IDs, DocV produces auto-decisioning rates as high as 98%, in seconds.
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Socure, the leader in Day Zero digital identity verification, today announced DocV, a fully-automated omnichannel document verification service that expedites onboarding, reduces fraud, and works to eliminate costly manual reviews.
The most scalable and accurate document verification service available, DocV applies advanced analytics and computer vision to quickly confirm the authenticity of any government-issued ID, including more than 3,500 document types from around the world. The image capture tool built into DocV automatically adjusts for and offsets user-error, and the back-end forensic analysis technology is fully-automated—eliminating the need for human intervention and manual checks. An additional layer of security checks for liveness, matching the photo on a consumer’s ID with a selfie in under 15 seconds.
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“As more sophisticated fraud attacks are on the rise, financial institutions and other organizations are bolstering identity verification protocols, including KYC/CIP, fraud prevention, and sanction screening,” said Johnny Ayers, Founder & Chief Product Officer of Socure. “DocV, now a central pillar of Socure’s integrated identity engine (ID+), drastically reduces the operational burden and cost associated with manually verifying identities while accelerating revenue growth, reducing identity fraud, and reducing friction during the authentication process.”
Unlike most document verification services where only a physical ID and selfie photos are authenticated, Socure’s forward-thinking approach to DocV is unmatched. Companies count on Socure to deliver the most robust, holistic, and accurate approach to fraud prevention and KYC, not only by the authentication of an ID card and selfie, but also by seamlessly analyzing other dimensions of an identity such as device risk, phone and email correlation, sanctions screening, and correlating the data on the ID against authoritative data sources.
DocV is designed to quickly and accurately assess the validity of users when applying for new accounts and services, providing access to customers locked out of existing accounts, detecting account takeover attempts, and processing high-dollar transactions for a broad range of industry verticals, including financial services, healthcare, telecommunications, online gaming, real estate, digital currencies, sharing economies, and more.
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