#United States #AI Technology #Socure #Incline Village #RiskOS

Socure Introduces RiskOS™

Socure, a trailblazer in artificial intelligence for digital identity verification and fraud prevention, has rolled out its innovative RiskOS™ platform. This state-of-the-art engine is designed to tackle the pressing challenges of identity verification, compliance, and fraud prevention, which are increasingly crucial in today's digital landscape. With fraud costing businesses billions each year, the need for a cohesive solution has never been more vital.

What is RiskOS?

RiskOS™ is a comprehensive decisioning engine built upon Socure's extensive identity graph, which integrates advanced orchestration capabilities inherited from the recent acquisition of Effectiv. The platform is engineered to process tens of thousands of real-time computations every second, streamlining functions across risk, fraud, and compliance operations. It stands out by offering a no-code interface that allows businesses to make rapid changes to rules and workflows without the usual delays of traditional coding.

The Need for Speed and Accuracy

With identity fraud tactics becoming more sophisticated, organizations need tools that provide clarity and confidence in their identity verification processes. With a remarkable 96.4% identity recurrence rate backed by a consortium of over 4 billion outcomes from more than 2,800 customers across various sectors, RiskOS empowers businesses with actionable insights that enhance their verification efforts. Each identity is mapped to a unique Socure ID, facilitating proactive alerts on potential risks.

Transforming Identity Verification

RiskOS™ is particularly crafted to support various use cases:

1. Consumer Onboarding: The platform reduces friction during the onboarding process, drastically improving approval rates while minimizing fraud risks. Customers can verify identities with minimal PII, achieving an impressive approval rate of around 90%.
2. Business Onboarding: As businesses grapple with ever-evolving regulations, RiskOS automates complex Know Your Business (KYB) workflows, ensuring swift and compliant verifications.
3. Bank Account Verification: The surge in payment fraud necessitates real-time bank account validations which RiskOS provides effectively, allowing instantaneous checks on account status and ownership.
4. Account Takeover Prevention: The rise of GenAI in fraud methods is countered by RiskOS's predictive capabilities, which can identify unauthorized access attempts through real-time behavioral analysis.
5. Trust & Safety: By simplifying verification processes using minimal PII, RiskOS instills confidence across platforms, increasing user engagement and encouraging higher transaction volumes.

A Comprehensive Ecosystem

RiskOS is developed on a flexible platform that promises simplicity and scalability. By integrating with over 50 third-party data services—including partners like Middesk for business verification—the solution ensures that organizations can access the best tools for their specific needs. As a future-ready platform, it offers an open architecture that can streamline risk management across multiple industries, from banking to e-commerce.

Groundbreaking Features

RiskOS introduces several innovative functionalities:

• - A dynamic no-code rule builder that allows risk teams to adapt strategies without technical expertise.
• - Seamless data orchestration enabling real-time, sub-second decision-making across various business processes through a single API.
• - An integrated case management system that consolidates diverse data sources into one accessible hub.
• - Flexible APIs to manage data across numerous compliance and risk use cases effectively.
• - A/B testing capabilities that let organizations refine their strategies while running them alongside ongoing operations.

Conclusion

With the introduction of RiskOS™, Socure is set to redefine the standards for identity verification across digital marketplaces, financial services, and beyond. Businesses no longer have to navigate fragmented solutions or prolonged integration timeframes. Instead, RiskOS equips them with the tools to act swiftly and confidently in managing identity and compliance challenges, paving the way for a more secure and efficient digital economy.

For more information on how RiskOS can amplify your organization's identity verification capabilities, visit Socure's official site.