Effectiv and Socure Partner to Fight Financial Crime in Financial Institutions and Fintechs

Team Effectiv

Team Effectiv

September 1, 2022

Socure, the leading provider of digital identity verification and fraud solutions, and Effectiv, a fraud and compliance automation platform, announce a new partnership that enables customers to digitally and accurately ensure the identity of both consumers and businesses utilizing real-time, predictive analytics.

“Partnering with Socure strengthens the fight against identity theft with KYC (Know Your Customer) and KYB (Know Your Business) initiatives, aligning perfectly with Effectiv’s solution empowering financial institutions during the onboarding process for all account types,” said Ravi Sandepudi, CEO, Effectiv. “We’re excited to partner with Socure to help our clients defeat fraud and stay compliant.”

Effectiv provides a fast-to-market solution with a zero-code implementation with customizable, automated workflows including KYC/KYB integrations. Superior case lifecycle and operations management solutions all live within one single platform that scales dynamically while utilizing machine learning and AI-driven automation to boost efficiency.

“We’re excited to partner with Effectiv to help our clients gain the confidence they need during the onboarding process for both consumers and businesses,” said Evan Rabinowitz, Socure’s vice president of channel partnerships. “Financial institutions and fintechs will benefit from Effectiv’s best-in-class, real-time fraud prevention platform and the unparalleled accuracy of Socure’s digital identity verification solution.”

Socure is the market leader in identity verification and fraud prevention. Its graph-defined platform combines advanced machine learning and artificial intelligence with all elements of a consumer’s identity to deliver the most accurate and robust identity verification and proofing, KYC, and fraud risk prediction solutions in the market.

About Effectiv

Effectiv provides a fraud and compliance automation platform for fintechs, mid-sized banks, and credit unions. Its mission is to automate compliance needs while helping customers manage fraud with a best-in-class solution combining human and artificial intelligence interaction.

Built by a team who enabled enterprises like U.S. Bank, Chime, Google, PayPal, and Walmart to manage fraud and risk, Effectiv’s solutions utilize hundreds of industry-leading data sources to help financial institutions establish customized solutions based on their unique needs.

About Socure

Socure is the leading platform for digital identity verification and trust. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from physical government issued documents as well as email, phone, address, IP, device, velocity, date of birth, SSN, and the broader internet to verify identities in real time. The company has more than 1,100 customers across the financial services, government, gaming, healthcare, telecom, and e-commerce industries, including four of the top five banks, seven of the top 10 card issuers, the top three MSBs, the top payroll provider, the top credit bureau, the top online gaming operator, the top Buy Now, Pay Later (BNPL) providers, and over 250 of the largest fintechs. Marquee customers include Chime, SoFi, Varo, Gusto, Public, Stash, and DraftKings. Socure customers have become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, and Synchrony. Additional investors include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures, and others.

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