Socure Launches AIDA Identity Verification Bot

Socure, a provider of predictive analytics for digital identity verification, has launched Aida (Authentic Identity Agent), a purpose-built bot for establishing trust in online transactions.

Aida uses artificial intelligence to process billions of multidimensional online and offline data points per second to validate the authenticity of digital identities in real time. Aida provides this multidimensional view of consumers by applying self-training, predictive analytics models to hundreds of online and offline data sources.

"Socure is solving the single most difficult problem in identity verification, validating a person that's never done business with an organization before," said Sunil Madhu, chief strategy officer at Socure, in a statement. "Using traditional approaches for vetting the identity of new customers in a mobile and digital world has been a miserable failure. Aida can assess in real time and with unprecedented levels of reliability whether a digital identity is authentic, synthetic, or has been stolen by performing beyond-human analysis at machine speed. Aida essentially lives every minute of every day to verify identities and fight fraud."

Aida learns customer identity from their digital footprints to calculate risk and correlation scores.

Aida combines artificial intelligence, unsupervised machine learning and clustering algorithms to perform the following tasks:

• Ingesting, normalizing, and evaluating data from hundreds of online and offline data sources, including credit bureaus, email history, phone records, IP addresses, social networks, and more;
• Automatically generating fully explainable and transparent machine learning models in hours, while continuously training and improving them; and
• Performing predictive analytics on real-time transactions to assess and assign risk scores to identities, which are used to determine whether requests should be auto-accepted or flagged for manual review by fraud analysts.

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