INCLINE VILLAGE, Nev., April 18, 2024 /PRNewswire/ — Socure, the leading provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention, today launched its next generation Document Verification (DocV) solution, purpose-built to tackle the rash of stolen identities, spoofing, and highly sophisticated deepfake attacks that are accelerating in their complexity across nearly every segment of the digital economy.
Open source generative AI tools have intensified the enablement of easy-to-create fraudulent identities alongside the inexpensively purchased stolen IDs and personally identifiable information (PII) found on the black market. Legacy document verification solutions that aren’t investing extensively in R&D are allowing fraudsters to beat their systems using these techniques: tampered headshots, non-live selfie presentation attack, duplicative headshots of the same person across varied PII/documents, mismatch of PII provided in form field vs extracted from document or barcode extraction, substantially different age prediction between headshot and document date of birth, document invalidity, deepfake selfie of true ID owners’s face, forged or blurred barcodes, image from a digital screen, repeat device usage across multiple documents in short periods of time and more.
Sprinting ahead of these rapidly evolving complexities, many that are used in conjunction with one another in a single attack, Socure has launched a proprietary solution that combats every single dimension of a potential attack at once, making it prohibitively expensive, time-consuming, and outright unattainable for the fraudsters to evade detection – all in less than 2 seconds and with no impact to the user experience. This multi-layered defense approach ensures that increasingly complex attacks cannot circumvent the system that now analyzes 1000s of document signals in real-time with a broader view of the identity risk by also analyzing PII, barcode data, device and behavioral intelligence, geolocation, and biometric signals, all resulting in the attainment of Socure’s market-leading accuracy.
In addition, Socure’s next generation DocV alleviates consumer friction concerns presented by typical document and biometric verification solutions, bringing the verification speed down to a P95 of 1.5 seconds, compared to the industry average of more than 30 seconds, with some requiring minutes to return a decision.
“Socure continues to get better and better for our partners with each passing day, improving user experience, accuracy, speed to decision and operational efficiency. The Socure brand is known for continuous innovation as we strive for perfection and this announcement is representative of our continued advances. With generative AI fraud tools in the hands of bad actors, we are seeing attacks at massive scale with the use of incredibly accurate deepfakes and manipulated documents that easily fool legacy biometric and template-based solution providers,” said Johnny Ayers, founder and CEO of Socure.
For example Dave, a Socure neobank customer since 2020, has seen a dramatic 57% increase in DocV auto approval rates resulting in a 21% lift in their overall acceptance rate. Additionally their team has fully automated the experience eliminating the need for manual reviews. It’s also important to their business to stay ahead of growing generative AI threats.
“At Dave, it’s essential to have strong document verification that allows us to safely accept more good consumers, making Socure a trusted partner in our growth strategy,” said Stav Gil, Vice President of Platform and Operations at Dave. “Generative AI fraud attacks will be an ongoing threat in digital banking, and we are excited to continue to partner with Socure as it brings new models to market.”
Combatting Generative AI Attacks with Generative AI Solutions – Socure on Offense
Deepfake Selfie Detector
In its most recent innovation cycle, the Socure document verification is shutting down fraudsters who are wielding generative AI tools to spin up sophisticated, hyper-realistic deepfakes that fool legacy document verification checks, mimicking both credentials and the selfies taken to match those IDs. These deepfakes are not discernible to the human eye, and they’re outpacing the traditional machine learning models used by most providers in the market.
Attacking generative AI for ‘bad’ with generative AI for ‘good’, the Socure data science team generated hundreds of thousands of carefully curated deepfakes using more than 20 different AI generators to ensure production of a very realistic diversity of body shapes, ages, skin tones, postures, lighting conditions, backgrounds and ethnicities. These deepfakes train Socure’s selfie models to thwart spoofing attacks with incredible precision. See Socure’s AI-generated deepfake selfie images here.
The deepfake selfie detector is only the newest layer of defense against these robust attacks. Socure also delivers detection for instances in which fraudsters attempt to submit a photo of another image or capture a digital image off a screen, as well as proprietary injection attack detection (with multiple patents having already been filed), which prevent digitally created deepfake selfies from being injected into the capture or verification session.
A Barcode Tells a Thousand Words … or Should
Generative AI tools have made it possible for fraudsters to recreate driver licenses and ID cards with near perfect visual accuracy, including the barcode. There’s a catch – real barcodes tell the story of an identity with encoded PII and built-in security features from the issuing agency. But that’s not the case for a fake barcode.
Socure’s patented fake ID detection technology can identify anomalies in even the most carefully-constructed barcodes. This also addresses the challenge of barcodes that are blurred or difficult to read due to natural wear and tear.
Socure’s barcode enhancement system takes any unreadable, machine generated or low quality barcode as input and then reconstructs a clean, “super resolution” barcode that is easy to read while maintaining the PII originally encoded within. This allows the system to verify front and back consistency, check barcode security compliance with issuing authority standards, and protect against deceptive barcode fraud that can easily fool a human reviewer.
Proprietary Predictive Fraud Signals from Across the Socure ID Graph
Socure’s DocV also stands out in the market because it goes beyond verifying the validity of a presented ID to examine the correlation and risk related to the identity behind the credential – a powerful combinatorial capability unique to Socure. The solution maps and analyzes contextual data on consumers, 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 fuses device and phone ownership information, behavioral data, PII, and geolocation data with document authenticity analysis, face image comparison, liveness detection, deepfake detection, and barcode detection–all built in-house, making it nearly impossible for a fraudster to create a digital doppelganger.
Ideal Use Cases for DocV:
- Age verification:
- Incorporates online gaming and gambling, alcohol and cannabis purchases and delivery, online adult content websites with minimum-age requirements, and social media sites requiring parental consent.
- Driver verification:
- Validates the legitimacy and age for an individual to engage in a particular activity, including micromobility, car-sharing services, ride-sharing drivers, car rentals, food delivery services, alcohol and cannabis delivery.
- Identity Verification and KYC for New Applications or High-Risk Transactions:
- Delivers heightened verification for high risk or irreversible transactions such as wiring a large sum of money or cryptocurrency purchases
- Step-up Authentication:
- Provides a step-up verification process to keep out fraudsters while giving good consumers a secure verification option
- Two and three party marketplace ID verification:
- Defers fraud in order to build trust between the two or three-parties in a marketplace. Protecting brand reputation and customer trust & safety requires fraud protection, especially when digital interactions become face-to-face such as home rental services and delivery services.
- Obtain verifiable parental consent:
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- Protects access to social media, gaming, and financial services when parental consent is required on behalf of minors who are not legally allowed to consent for themselves.
- Accessing government services:
- Enables the American public to provide proof of government identification when accessing government services in a seamless and friction-free identity verification process.
For more information on DocV visit Socure’s website or read more in our blog. To learn more about our approach to biometrics and privacy, read our white paper. To watch our on-demand webinar entitled, No Bad Biometrics, Only Bad Actors: Legal Insights on Guiding Principles to Biometric Verification click here.
About Dave
Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, a FDIC member. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X.
About Socure
Socure is the leading provider of digital identity verification and fraud solutions. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online and offline data intelligence to verify identities in real-time. Socure is the only vertically integrated identity verification and fraud prevention platform with both IAL-2 and FedRAMP Moderate certifications, delivering advanced levels of assurance and the highest standards for security and compliance. The company has more than 2,200 customers across the financial services, government, gaming, healthcare, telecom, and e-commerce industries, including four of the five top banks, the top credit bureau and more than 400 fintechs. Organizations including Chime, SoFi, Capital One, Robinhood, 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.
