Socure releases ID verification platform in 11 states
Company says software can identify of-age and new-to-country players, reducing drop-off rates.
Socure, a provider of identity verification products, on Friday said its Socure ID+ platform will be available to digital gaming operators in 11 states.
New York City-based Socure currently is approved to partner with online gaming operators in Colorado, Illinois, Indiana, Iowa, Michigan and New Hampshire. The company said it has filed, or is in the process of filing, for vendor status in New Jersey, Pennsylvania, Tennessee, Virginia and West Virginia.
The company noted its Socure ID+ platform includes Intelligent KYC, DocV, Global Watchlist with Monitoring for compliance, and its flagship Sigma Fraud Suite.
According to Socure, Intelligent KYC incorporates data sources with advanced logic, while DocV is an automated document verification solution. The platform uses data sources that include more than 289 million verified identities, and more than 7 billion records from credit, utility, telecom and other sources.
The company said Intelligent KYC streamlines online identity verification by auto-accepting a significantly higher percentage of new players, including recently of-age players and new-to-country.
If an applicant fails the initial passive verification, they can be stepped up to Socure’s DocV solution, which guides the prospect through capturing a government-issued ID using their mobile device.
“The online gaming industry is experiencing unprecedented growth, with an increasing number of states allowing, or planning to allow, sports betting and casino expansions,” Socure founder and CEO Johnny Ayers said in a statement. “Considering the critical compliance requirements these operators face, our technology ensures that meeting those requirements does not mean slowing down business growth. Socure has a talented, dedicated team in place to support the online gaming industry and the massive growth anticipated over the next several years.”
Socure reports it has more than 350 customers across the financial services, gaming, telecom and e-commerce industries.
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