Socure’s First-Party Fraud Consortium Achieves Unprecedented Scale, Uniting Industry Leaders Across Industries to Combat $100B Problem

INCLINE VILLAGE, Nev.: First-Ever Cross-Industry Initiative Brings Together Financial Institutions, FinTechs, Payment Platforms, Sports Betting and BNPL Providers INCLINE VILLAGE, Nev., Dec. 5, 2024 /PRNewswire/ — Socure, the leading provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention today announced significant milestone achievements for its First-Party Fraud Consortium. The first of its kind, the consortium seeks to unify companies to tackle the complicated, multi-industry issue of First-Party Fraud by pooling data and insights which allow them to detect and stop fraud before it takes hold. The groundbreaking initiative has amassed data intelligence encompassing 190 million contributed identities, 121 million of which are unique identities, 325 million accounts, and 20 billion transactions, marking an unprecedented collaboration in financial services history.

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