“By utilizing advanced data science and machine learning techniques, we are able to improve the overall identity verification performance and user experience for banking and other financial institutions, as well as their customers.”
The report identifies Socure as a Cool Vendor. It states, “Banks are optimizing operations via usage of AI technologies such as deep learning, predictive analytics and natural language processing. Technology and service providers in banking and investment services developing tools using AI methods should observe the selected vendors for disruptive ideas.” Specifically, the Gartner report recognizes vendors that “…are helping optimize operations at banking and investment services by assisting a wide number of organizations — including small and midsize banking and investment services institutions — in reducing cost, increasing revenue, improving customer experience and more.”
The Socure ID+ identity verification platform applies artificial intelligence and machine learning with trusted online and offline data intelligence to calculate an actionable “trust score” for digital identities in less than a second. It also provides users with a detailed explanation as to how it came to its conclusions, enabling financial institutions to have much greater confidence in their fraud protection programs, reduce the need for manual reviews, and optimize their resources.
“We are honored to be named a Gartner Cool Vendor for our use of AI and machine learning, which is the core of our business,” said Tom Thimot, CEO, Socure. “By utilizing advanced data science and machine learning techniques, we are able to improve the overall identity verification performance and user experience for banking and other financial institutions, as well as their customers.”