August 24, 2016
Socure Launches Facial Recognition Capability
Sept. 17, 2015
Socure, a New York City-based provider of authentication technology, today launched a facial recognition solution it said can confirm a person’s identity within seconds. Socure’s core platform uses “social biometrics”—data culled from social media profiles that creates a fingerprint establishing users’ identities—to prevent account takeover and account creation fraud. The new solution, called Perceive, uses patent-pending technology to compare the user’s face on a device’s camera to photos available from online social media sources adding an additional layer of authentication.
While Socure currently works with financial institutions, CEO Sunil Madhu told CardNotPresent.com he sees obvious applications for online merchants selling high-value products cross-border.
“If I wanted to buy a $7,000 leather jacket from a boutique in Italy, I never would have been able to complete that transaction,” Madhu said. “My card would have been declined and the only way I could have done it is to fly to Rome.”
Because the solution compares the user’s face to existing photos, Perceive is able to avoid the “training” process involved in some biometric authentication technologies (e.g., having to lay your finger on an iPhone’s touch pad in several different ways and, perhaps, repeating the process for different fingers). Madhu drew a distinction between identity and trust and said the Socure solution ensures the latter.
“There are lots of types of identity providers on the Internet, but no single entity responsible for trust,” he said. “We put trust into identity wherever an identity originates.”