CHENNAI, India–(BUSINESS WIRE)–#AML—Socure, the leader in Day Zero digital identity verification, today announced that it has been named the title sponsor of Shaastra 2020, the world’s first ISO 9001:2015 certified, wholly student-run tech festival, being held January 3-6 at IIT Madras in Chennai, India. The four-day festival, which is celebrating its 20th anniversary in 2020, fosters innovation through engineering across numerous industries. Shaastra sessions include unique design and build challenges, machine learning workshops, technical forums, “B-school-style”competitions, and a Socure-sponsored online Hackathon on January 3rd at 1pm IST.
“During my many years at Cognizant, I gained a deep appreciation of the quality of education delivered by IIT Madras,” said Tom Thimot, CEO, Socure. “As such, we could not be more excited about supporting these world-changing students as the title sponsor of Shaastra 2020. This is an extremely unique event showcasing the wealth of talent in the Chennai region and bringing together some of the best young minds to creatively solve major engineering and technical challenges.”
Thimot continued, “As a fully student-focused conference, we are especially passionate about doing our part to champion the next generation of data scientists through Shaastra’s innovative forum, as we continue to expand our presence in the area.”
Socure, with facilities in New York, San Francisco, San Diego and Chennai, is dedicated to “Identifying More Real People in Real Time.” The company has garnered numerous recent accolades for its breakthrough work in the areas of artificial intelligence and machine learning, including being named to the Forbes’ AI 50 list as one of America’s most promising AI companies, winning a 2019 API World’s Best Data API award, receiving a 2019 TIMMY Award for Best Tech Startup in New York City, and being honored with a 2019 FinTech Breakthrough Award for Innovation in Transaction Security.
Socure applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from email, address, phone, IP, social media and the broader Internet to verify identities in real-time. Socure’s Day Zero Identity Magic focuses on starting identity verification during the onboarding phase, which has the dual advantage of preventing fraudsters from penetrating systems while maximizing auto approval rates. In addition to providing unmatched accuracy and nearly instant customer identification, Socure gives organizations an instant, data-driven view of digital reputation and fraud risk, helping them unlock innovation and growth.
Its customers include three of the top five U.S. banks, seven of the top 10 U.S. card issuers, as well as the majority of leading digital banks, lenders and insurers across the U.S.
For more information about Socure, visit www.socure.com.
Socure is the leader in Day Zero digital identity verification technology. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from email, phone, address, IP, social media and the broader Internet to authenticate identities in real-time. Socure powers financial inclusion, increasing acceptance as much as 40 percent for millennials and other thin-file consumers. It also reduces fraud for online new account opening by up to 90 percent, lowers manually reviewed Knowledge-Based Authentication (KBA) rates by as much as 80 percent, and automates Customer Identification Program (CIP), Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance initiatives. Socure was founded in 2012 and is based in New York City.
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