Live from MoneyConf: Socure pick up investment from Santander
Dylan Kelly Published on June 22, 2016
Today at MoneyConf, Santander’s fintech VC fund, Santander InnoVentures, announced its investment in MoneyConf startup Socure. They’re an industry leader focused on real-time digital identity verification solutions.
Based in New York, Socure uses trusted data from consumers, like info on their social media usage, to accurately and efficiently confirm the identity of consumers in real-time. The serivce is primarily used within financial institutions for activities like opening new bank accounts or issuing credit and debit cards.
The technology can also be used in fraud prevention and compliance, ensuring firms meet requirements of directives like anti-money laundering (AML) regulations. Socure already count Kabbage and StashInvest Feedzai as partners or customers.
How Socure can help you confirm a transaction from your mobile device while walking down the street
“With this latest funding announcement, we’re extremely excited to continue our work in tackling the issues associated with identity fraud, while continuing to improve access to the financial system for the unbanked and under-banked, whether in established economies or emerging markets,” said Socure’s Founder and CEO, Sunil Madhu.
Víctor Matarranz, Senior EVP Strategy at Grupo Santander, was at MoneyConf today to talk about how Santander is evolving.
“We believe the flexibility of fintech companies, and experience and soundness of banks such as Santander form the perfect partnership, good for startups and good for banks like Santander, as it helps us accelerate our digital transformation,” said Matarranz in his keynote at MoneyConf, sponsored by Banco Santander.
Víctor Matarranz on MoneyConf Centre Stage today