Socure Named a Leader in Inaugural Gartner® Magic Quadrant™ for Identity Verification

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Oct 23, 2024, 15:12 ET

INCLINE VILLAGE, Nev., Oct. 23, 2024 /PRNewswire/ -- Socure, the leading provider of artificial intelligence for digital identity verification, fraud prevention and sanction screening, has been recognized as a Leader in the inaugural Gartner Magic Quadrant for Identity Verification released this week. A complimentary version of the full report can be found here.

The Gartner view of the market is focused on transformational technologies or approaches delivering on the future needs of end users. Gartner defines identity verification as the combination of activities during a digital interaction that brings a real-world identity claim within organizational risk tolerances. Identity verification capabilities provide assurance that a real-world identity exists and that the individual claiming the identity is its true owner and is genuinely present during the digital interaction. The report evaluated 11 vendors on 15 different sets of criteria and placed Socure in the Leaders Quadrant.

Socure's DocV solution stands out in the market because it goes beyond verifying the validity of a presented ID by examining the correlation and risk related to the identity behind the credential – a powerful combinatorial capability unique to Socure. The solution maps and analyzes 1000s of data points, leveraging insights from Socure's rich identity graph, which provides a view of whether the PII on the credential has been used with other identities, or was historically linked to risk.

The solution also uniquely fuses device, network and phone ownership information, behavioral data, PII, and geolocation intelligence with document authenticity analysis, biometric comparison, liveness detection, deepfake detection, and barcode fraud analysis – all built in-house. It combats every dimension of a potential injection or presentation attack at once, making it prohibitively expensive, time-consuming, and unattainable for the fraudsters to evade detection – all in less than 2 seconds and with the best-in-class user experience.

"I'm incredibly proud of our product, data science and engineering team's achievement in being named a Leader in Gartner's Magic Quadrant for Identity Verification," said Johnny Ayers, founder and CEO of Socure. "We believe this recognition is a testament to the relentless dedication and innovation of our DocV, mobile engineering and computer vision teams. Our unique approach to ID verification, which goes beyond simple document template checks to analyze the entire identity behind the credential, is setting the bar for best-in-class performance in the industry. This recognition reflects our commitment to using our unique 360 degree view of the identity powered by AI and computer vision to relentlessly innovate, provide beautiful user experiences and increase the value being realized by our thousands of partners."

Additional detail on the overall Gartner Magic Quadrant evaluation can be found on the Socure blog. For more information on Socure's solutions visit www.socure.com.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Socure
Socure is the leading AI provider of digital identity verification and fraud solutions. Its predictive analytics platform applies AI and machine learning techniques with trusted online, physical and offline data intelligence to verify identities and fraudulent transactions in real-time. The company has more than 2,700 customers across the financial services, government, gaming, healthcare, telecom, insurance, marketplaces, and e-commerce industries, including eighteen of the top twenty banks, the largest HR Payroll providers, the largest sportsbook operators, 27 states, four federal agencies and more than 500 fintechs. Organizations including Capital One, Citi, Chime, SoFi, Green Dot, Robinhood, Dave, Gusto, Public, Poshmark, Stash, DraftKings, PrizePicks and the State of California trust Socure for accurate and inclusive identity verification and fraud prevention. Learn more at socure.com.

SOURCE Socure