Socure Wins Best in Future of Trust Award for Public.com Deployment

Socure is the proud recipient of a Best in Future of Trust Award. The Awards are handed out by the International Data Corporation (IDC), which specifically recognized Socure for its deployment with the investing platform Public.com.

In that regard, Socure, IDC, and Public.com all emphasized the impressive results that the partnership has produced. Public.com is currently using Socure’s identity verification technology for fraud prevention and new customer onboarding, and indicated that its manual review costs have plummeted 30 percent since it implemented the solution. Socure’s platform is able to achieve auto-approval rates of 98 percent, which dramatically lowers the number of cases that need to be referred to an agent and frees up employees to deal with more important tasks.

According to Public.com, the company’s enterprise value has gone up 15 percent as a direct result of those efficiency gains. The company also suggested that Socure’s high auto-approval rates have helped raise inclusion on the platform, and made its investing services more accessible to a wider range of people.

The Socure solution is compliant with the latest regulatory standards, and enables a smoother onboarding process for end users. IDC listed privacy, compliance, risk management, cybersecurity, ethics, sustainability, and transparency as some of the key criteria it evaluates when selecting the winners of the Best in Future of Trust Awards.

“The average loss from consumers who are victims of identity fraud runs in tens of billions of dollars, making robust identity verification an important consideration for all organizations,” said IDC Future of Trust Research Director Amita Potnis. “Public.com has displayed effective and efficient user verification and made financial investments more accessible through technology for its customers.”

Socure’s ID+ Platform was the top-rated solution in Aite-Novarica’s most recent Global Document Identification and Verification Impact Report. The company itself is now valued at $4.5 billion after bringing in $450 million in funding in November. 

–

January 28, 2022 – by Eric Weiss