The upgrade ensures Kasasa clients experience the benefits of identity verification accuracy and increased approval rates at account opening while reducing fraud
Kasasa, an award-winning financial technology and marketing provider, and Socure, the leading provider of digital identity verification and fraud solutions, announced that 225 of Kasasa’s INMO clients, comprised solely of community financial institutions that leverage Kasasa’s digital account opening platform, have upgraded to Socure’s industry-leading identity verification and fraud platform.
“Socure’s identity verification solution offers 98% auto-accept rates for mainstream populations, up to 94% for hard-to-identify populations, and our fraud capture rates are the highest in the industry”
This change allows Kasasa to provide hundreds of community banks and credit unions with best-of-breed identity verification technology, equipping them with the tools they need to open accounts digitally with confidence.
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“We recognize that most financial institutions struggle with auto-accept rates for hard-to-identify populations, such as the Gen Z, millennial, credit invisible, thin-file, and new-to-country populations that comprise a majority of the applicants at our community bank and credit union clients,” said Gabe Krajicek, CEO of Kasasa. “Partnering with a vendor like Socure helps us advance our mission of providing community financial institutions with the technology they need to compete with megabanks.”
“Socure’s identity verification solution offers 98% auto-accept rates for mainstream populations, up to 94% for hard-to-identify populations, and our fraud capture rates are the highest in the industry,” said Johnny Ayers, founder and CEO of Socure. “By working with Kasasa, we are proud to provide more than 200 community banks and credit unions with the same best-in-class platform that four of the five largest banks use today. Our platform helps ensure financial inclusion, a frictionless user experience, and improved reduction in fraud.”
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Kasasa, committed to providing community banks and credit unions with the best products and digital experiences for account holders, partners exclusively with community financial institutions across the country to help keep money local. The company serves 900 community financial institutions nationwide, representing 3 million consumer bank accounts across nearly 4,000 branches in all 50 states.
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