US-based digital banking solutions provider Q2 Holdings has partnered with Socure to bolster identity verification capabilities.
Under the collaboration, Socure will equip Q2 Open’s CorePro platform with AI-based Know Your Customer (KYC) identity risk scoring solution.
The integration will enable CorePro to assist the financial institutions in streamlining and strengthening identity verification processes.
The Socure solution uses a combination of online and offline data to procure information. The process provides the financial institutions with a larger footprint of customer’s digital identity mitigating fraud threats.
Q2 Open general manager Paul Walker said: “At Q2, we are continually evolving our banking-as-a-service solutions to enable banks and fintechs to quickly develop and deploy best-in-class digital financial experiences.
“Our partnership with Socure reinforces our commitment to provide secure and agile solutions to banks and fintechs, and to offer better identity verification and fraud protection that enables a truly frictionless customer on-boarding process.”
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By GlobalDataCorePro is a core processing platform designed for financial institutions to launch bank account and debit card products.
The combination of Socure technology into Q2 platform will also expedite customer on-boarding process and eliminate redundant questionnaires.
Socure founder and SVP Johnny Ayers said: “By integrating Socure’s predictive analytics platform into CorePro’s banking-as-a-service capabilities, we believe that together we can drive the future of digital account opening across the fintech and broader financial services industries.”