“Fraud causes global governments several trillions of dollars of loss annually from a GDP perspective, so it’s a big problem for global economic growth,” says Sunil Madhu, Founder and CEO of Socure. According to Madhu, a big part of the problem stems from the current bureau-based identity verification process that many businesses use for establishing new customers. Socure offers an alternative method; one that uses predictive analytics machine learning to compare and evaluate information that is given in the real world by potential new customers with information in the digital world. In a matter of seconds, Socure’s machine learning models are able to differentiate between risky and non-risky profiles, and to accurately predict whether or not an individual poses a fraud risk. Socure has already been used across 108 countries and continues to grow. Tune in to learn more.
Madhu also discusses: