NEW YORK, March 02, 2016 (GLOBE NEWSWIRE) -- Socure (www.socure.com), the industry leader in digital identity verification, today announced that Sunil Madhu, its chief executive officer, will speak to banking industry leaders about ways to reduce payment fraud, at next week’s BAI Payments Connect conference, being held in San Diego. The three-day conference is the only one of its kind, devoted exclusively to the needs of today's payment leaders.
Socure is the sponsor of the “Future of Payments Fraud Summit” at the conference, where Madhu and other top executives from industry-leading firms such as the Federal Reserve Bank, Visa, and USAA will discuss ways for financial institutions to:
- Mitigate against new vulnerabilities in digital payments;
- Explore the next generation of authentication and find the balance between security and customer experience; and
- Solve key risk management issues across the enterprise.
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The BAI Payments Connect conference focuses exclusively on empowering payments leaders to make smart business decisions with an unbiased, 360° view of payments fraud, strategy and operations to drive positive change in their organizations.
“We are delighted to open the discussion about innovating the way financial institutions look at digital identity verification,” Madhu said. “Digital identity has become a cornerstone of interacting with consumers. As more accounts are born and primarily reside online, fraud prevention is paramount--yet market forces dictate that processes be intelligent and low-friction to serve current customers and onboard new ones quickly.”
Socure and its flagship ID+™ digital identify verification solution leverage the Socure Social Biometrics Platform for real-time authentication. ID+ helps institutions resolve identities and comply with regulatory requirements for KYC/CIP and AML/OFAC, providing validation of all dimensions of a consumer’s digital identity, enabling them to optimize manual reviews and sharply reduce online fraud. ID+ delivers real-time intelligence that can be used in automated decisioning to increase conversion rates, for fraud mitigation to reduce losses and improve false positives, and to meet regulatory requirements.
In addition, Socure recently became the first digital identity verification solution in the market with a completed SOC 2 report, an internationally recognized auditing standard created by The American Institute of Certified Public Accountants (AICPA). Socure’s compliance with SOC 2 ensures that Socure is ready to meet the stringent governance and compliance constraints of financial institutions worldwide, more quickly and with faster and with greater accuracy than previously possible.
Find Socure in the expo hall at booth #209. CEO Sunil Madhu will be a part of the panel discussion on Tuesday, March 8th at 1:30pm entitled “Combatting Payments Fraud through Enhanced Tools and Technology,” see the Payments Connect 2016 Agenda for more information at https://www.bai.org/paymentsconnect/conference/agenda
Socure (www.socure.com) is the leader in digital identity verification. Its technology applies machine-learning techniques with trusted online/offline data intelligence from email, phone, address, IP, social media and the broader Internet to authenticate identities in real-time. Socure bolsters CIP/KYC programs and AML/OFAC compliance for enterprises in the US, and powers financial inclusion verifying identities in over 180 countries, helping them to combat identity fraud, increase consumer acceptance, and to reduce compliance and manual review costs. Socure was founded in 2012 and is based in New York City.
About BAI and BAI Payments Connect
BAI is passionate about the pursuit of trusted information, powerful tools, and actionable insights that provide financial services leaders with the clarity and confidence needed to prepare for tomorrow, while performing better today. For over 90 years, this has been our mission: empowering leaders to make smart business decisions, drive positive change, and move the industry forward. Because a strong financial services industry helps consumers, businesses, and communities thrive.
BAI Payments Connect focuses exclusively on empowering payments leaders to make smart business decisions with an unbiased, 360° view of payments fraud, strategy and operations to drive positive change in their organizations through actionable insights from industry experts, thought leaders and innovative solutions providers. The objective and comprehensive content covers all aspects of the payments ecosystem, giving payments leaders a holistic perspective and fresh ideas that can drive revenue and move their organizations forward. For more information visit: BAIPaymentsConnect.com
BAI is the Bank Administration Institute and BAI Center.
*Tweet text: Digital Identity leader @SocureMe - #Fraud Summit sponsor @BAI_Info #PayConnect 2016 in San Diego: http://www.socure.com/news/BAIPC2016
Source: Socure; BAI