Q2, a cloud-based digital banking solution provider,will use Socure’s AI driven identity verification platform that enables a combination of digital and physical identity verification procedures as required by its customers:
“CorePro is a core-processing platform for demand deposit accounts, debit accounts and direct banking. Under the partnership, CorePro claims to help banks and fintech companies implement a faster and more accurate identity verification system for an improved financial experience covering a larger customer pool.
Socure does not use credit bureau data that would normally not include consumers with insufficient credit or who lack of access to traditional financial services, but relies on a mix of online and offline data to establish the consumer’s digital identity.
“Socure is excited to partner with the Q2 team,” said Johnny Ayers, founder and SVP of Socure. “By integrating Socure’s predictive analytics platform into CorePro’s banking-as-a-service capabilities, we believe that together we can drive the future of digital account opening across the fintech and broader financial services industries.”
Socure boasts a high number of customers across the U.S., including three of the top five banks, seven of the top 10 US card issuers, leading digital banks, lenders and insurers.”
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group