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Socure
by Socure
by Socure
Profile Information Last updated on: 22 July 2024
Profile Information Last updated on: 22 July 2024
We help make selecting a software for your business effortless, economical and efficient.
by Socure
by Socure
Profile Information Last updated on: 22 July 2024
Profile Information Last updated on: 22 July 2024
Socure's team conducts an initial consultation with the client to understand their specific needs, requirements, and objectives. This helps in tailoring the solution to fit the client's unique business processes.
Based on the initial consultation, the software is customized and configured to meet the client's specific requirements. This includes setting up the necessary integrations and adjusting the software settings to align with the client's workflows.
Socure's software is integrated with the client's existing systems. This often involves using Socure's Software Development Kit (SDK) to embed identity verification and fraud prevention capabilities into the client's applications and platforms.
Comprehensive testing is conducted to ensure that the software functions correctly and integrates seamlessly with the client's systems. This phase includes both functional and performance testing to identify and resolve any issues.
Socure provides training sessions for the client's team to ensure they are proficient in using the software. This may include live webinars, training videos, and detailed user manuals.
Once testing is complete and the client's team is trained, the software is deployed into the production environment. This step involves final checks and adjustments to ensure a smooth transition.
Socure offers a no-code Decision Module that allows businesses to custom-build and orchestrate their identity verification and fraud prevention workflows. This module enables companies to simulate, optimize, and automate customer decisions to align policies with processes, providing demonstrable controls and scaling growth without compromising compliance.
Socure's platform supports the creation of customizable workflows tailored to specific use cases or risk tolerances. This flexibility allows businesses to adapt the verification process to their unique operational requirements, whether for low-risk accounts or high-value transactions.
The software is designed to integrate seamlessly with many existing systems that businesses already use. This makes it easy to incorporate Socure's identity verification and fraud prevention capabilities into current workflows without significant disruption.
Socure provides dynamic risk scoring that can be customized to fit the specific needs of a business. This includes predictive signals and risk assessments based on various data elements such as email, phone, address, and device attributes.
The platform leverages a wide range of data sources and advanced AI/ML algorithms to provide highly accurate identity verification. This comprehensive data coverage can be tailored to meet the specific needs of different industries and regulatory environments.
Businesses can create custom approve/deny lists to automate decision-making processes based on their specific criteria. This feature helps streamline operations and enhance compliance by maintaining organization-specific lists of repeated good or bad actors.
Socure's platform offers a single API that provides a flexible and centralized location for different types of identity fraud detection and prevention. This allows businesses to easily add or remove products from their plans as needed, enabling scalable security protection.
The platform provides real-time updates and alerts to help businesses adapt to evolving regulatory requirements and avoid compliance penalties. This ensures that companies can stay up-to-date with the latest industry standards and regulations.
Socure's solutions are trusted by over 2,200 top enterprises across various industries, including financial services, government, gaming, healthcare, telecom, and e-commerce. This broad adoption indicates a high level of trust and satisfaction among users.
Knowledge Base: Socure provides a comprehensive knowledge base that users can access to find answers to common questions and learn about the platform's features and functionality.
Email/Help Desk Support: Users can reach out to Socure's support team via email or through a help desk system for assistance with any issues or questions they may have.
FAQs/Forum: Socure offers a frequently asked questions section and possibly a user forum where customers can find answers to common queries and share experiences with other users.
Customer Success Team: Socure has a dedicated customer success team that works with clients to ensure they are effectively utilizing the platform and achieving their goals.
Implementation Support: During the initial setup and implementation phase, Socure likely provides specialized support to ensure smooth integration and onboarding.
Ongoing Training: While not explicitly mentioned, it's common for companies like Socure to offer ongoing training sessions or webinars to keep users updated on new features and best practices.
Documentation: Socure likely provides detailed user manuals and documentation to help users navigate the platform and understand its various features.
Encryption: Socure uses encryption both in transit and at rest to protect data from unauthorized access and interception. This ensures that sensitive information remains secure during transmission and while stored.
Access Controls: Strict access controls are implemented to ensure that only authorized personnel can access sensitive data. This includes role-based access control (RBAC) to limit access based on the user's role within the organization.
Data Minimization: Socure adheres to data minimization principles, collecting only the necessary data required for identity verification and fraud prevention. This reduces the risk of data exposure.
ISO 27001 and SOC 2 Type 2 Certifications: Socure's data protection practices are audited regularly, and the company maintains ISO 27001 and SOC 2 Type 2 certifications. These certifications demonstrate Socure's commitment to maintaining high standards of information security management and operational integrity.
Regulatory Compliance: Socure complies with various regulatory requirements, including GDPR and HIPAA, ensuring that data protection and privacy standards are met across different jurisdictions.
Predictive Analytics and Machine Learning: Socure uses advanced AI and machine learning algorithms to enhance identity verification and fraud detection. These technologies help in accurately assessing risks and identifying fraudulent activities.
Biometric Information Protection: Biometric data receives the same rigorous privacy and security protections as other sensitive personal information. This includes encryption, strict access controls, and data governance procedures.
Regular Security Audits: Socure conducts regular security audits to identify and address potential vulnerabilities. This proactive approach helps maintain the integrity and security of the system.
Data Retention Policies: Socure has clear data retention policies, ensuring that personal information is retained only for as long as necessary and in accordance with applicable laws. For example, biometric information is retained for no more than three years from the last interaction with Socure.
Regular Enhancements: Socure appears to release updates regularly, as evidenced by the continuous improvements and bug fixes mentioned in their SDK release notes on platforms like GitHub. These updates typically include enhancements to features, performance improvements, and minor bug fixes, suggesting an ongoing commitment to software development and maintenance.
Automated Deployment: Given the nature of modern SaaS platforms, it is likely that Socure employs automated deployment mechanisms to roll out updates. This ensures that updates are applied seamlessly without significant disruption to users.
Real-Time Adjustments: Socure's platform includes real-time risk parameter adjustments and no-code configuration options, indicating that updates can be managed dynamically to adapt to evolving regulatory requirements and fraud threats.
User Notifications: Although not explicitly mentioned, it is common practice for software providers to notify users of upcoming updates, new features, and any potential downtime through email notifications or in-app alerts.
AI and ML Enhancements: Socure's use of advanced AI and machine learning algorithms suggests that updates often include enhancements to these models, improving the accuracy and efficiency of identity verification and fraud detection.
Compliance Updates: Socure provides real-time alerts for compliance updates, such as OFAC and sanctions updates every 15 minutes, ensuring that users remain compliant with the latest regulatory changes.
Client Ownership: Clients retain full ownership of their data while using Socure's services. This means that businesses maintain control over their information, ensuring that they can manage, access, and use their data as needed.
Data Minimization: Socure adheres to data minimization principles, collecting only the necessary information required for identity verification and fraud prevention. This practice not only enhances security but also aligns with regulatory requirements for data protection.
Export Capabilities: Socure provides tools and features that allow clients to export their data easily. This ensures that businesses can transfer their information to other platforms or systems as needed, maintaining flexibility and control over their data.
Compliance with Regulations: The ability to export data supports compliance with data protection regulations such as GDPR, which mandates data portability as a right for individuals and businesses.
User Trust: By ensuring that clients retain ownership and control over their data, Socure reinforces user trust. Businesses can be confident that their data is handled responsibly and transparently.
Scalability: Socure operates on a subscription-based revenue model, which inherently supports scalability. Clients can increase or decrease their usage based on their current needs without significant disruptions.
Tiered Pricing Structures: Socure offers tiered pricing plans tailored to different client sizes and requirements. This allows businesses to choose a plan that best fits their current scale and upgrade or downgrade as necessary.
Customizable Workflows: The platform allows for the customization of decision-making workflows, enabling businesses to tailor the identity verification and fraud prevention processes to their specific operational requirements. This flexibility is crucial for scaling up or down efficiently.
Integration with Existing Systems: Socure's solutions are designed to integrate seamlessly with existing customer authentication systems, making it easier for businesses to scale their fraud prevention capabilities without overhauling their current infrastructure.
Automated Scaling: Socure leverages AWS IaaS and Docker containerization to deploy auto-scaling redundant deployment units. This technical setup ensures that resources can be automatically scaled up or down in response to system-level metrics like CPU or memory usage, network throughput, or request rate.
Real-Time Adjustments: The platform includes real-time risk parameter adjustments and no-code configuration options, allowing businesses to adapt quickly to changing regulatory requirements and fraud threats.
Volume Discounts: To encourage bulk purchases and long-term commitment, Socure may provide volume discounts for clients signing up for extended periods or increasing the number of protected users or accounts. This helps manage costs effectively as the organization scales.
Upselling Additional Services: Beyond the core fraud prevention solutions, Socure offers complementary products or consultancy services, such as implementation assistance, training, or threat monitoring, which can be added or removed based on the organization's needs.
However, these details are not publicly available.
These certifications demonstrate Socure's commitment to maintaining high levels of security, privacy, and confidentiality for its ID+ system and services
Socure's ID+ platform has achieved StateRAMP authorization, which certifies compliance with NIST 800-53 security and privacy standards. This authorization allows state and local governments to use Socure's platform while ensuring strict cybersecurity and data protection requirements are met. Providers with StateRAMP authorization are subject to continuous monitoring to maintain their status
Socure complies with the California Consumer Privacy Act (CCPA), providing mechanisms for consumers to exercise their data protection rights, such as the right to access, correct, delete, or restrict the processing of their personal information
By Socure