Sells banks, fintechs and government agencies API-based identity verification, identity-fraud scoring and sanctions screening, now packaged in the RiskOS decisioning platform and charged per evaluation or on usage-based enterprise contracts.
What is Socure, and which banks use it?
Socure, founded 2012 and based in Incline Village, Nevada, sells AI identity-verification, fraud and sanctions-screening software to banks, fintechs and government agencies through its RiskOS platform. It is private; an August 2026 investment led by Summit Partners valued it at $5.2 billion, as it bought agentic-AI firm Fravity. Among our 100 banks, Capital One, Citigroup, SoFi and Atlantic Union are named as users. Self-serve checks cost $0.80 to $1.30 per evaluation; enterprise pricing is usage-based and not published.
Category
Founded
2012
Headquarters
Incline Village, Nevada, US
Ownership
Private; an August 2026 strategic growth investment led by Summit Partners, with Goldman Sachs Alternatives, Wells Fargo and Docusign, valued Socure at $5.2 billion (Finovate reports the amount as $156 million). Earlier backers include Accel, T. Rowe Price-advised funds, Bain Capital Ventures and Tiger Global (2021 Series E at $4.5 billion), and the bank venture arms Citi Ventures, Wells Fargo Strategic Capital and Capital One Ventures.[24][25][11][10]
Deployment
API (cloud); self-serve Socure Launch or configurable Socure Enterprise on the RiskOS platform (Direct API, hosted UI, SDKs)
Pricing
Per-evaluation self-serve pricing (Socure Launch) with $1,000 of free monthly credits; usage-based enterprise contracts with volume discounts (Socure Enterprise / RiskOS)
Banks among the 100
4
- Socure reported $364 million in total annual recurring revenue at the end of Q2 2026, up 63% year over year, with 133% net dollar retention and more than 3,000 customers (vendor-reported); it had reported $315 million of ARR for 2025.
- On August 27, 2026 Socure announced a strategic growth investment led by Summit Partners at a $5.2 billion valuation, including an employee tender offer, and the acquisition of Fravity, whose AI agents for fraud and compliance investigations are to be delivered inside RiskOS as RiskOS_Agents.
- Fravity is Socure's fourth disclosed acquisition after Berbix (document verification, about $70 million, June 2023), Effectiv (risk decisioning, $136 million, announced October 2024) and Qlarifi (BNPL credit data, December 2025).
- Socure's own boilerplate says its customer base includes 18 of the top 20 banks and more than 600 fintechs, and its company page names Capital One, Citi and SoFi among organizations that use it; Capital One's head of fraud and servicing strategy was quoted in 2021 on Socure's effect on fraud accuracy.
- Socure publishes self-serve prices on its own site: $0.80 to $1.30 per evaluation for four pre-built Socure Launch bundles, with $1,000 of free monthly credits; enterprise RiskOS pricing is usage-based and not published.
- Reversals: Socure laid off 69 employees, 13% of staff, in June 2022; in April 2024 the neobank Aspiration sued it, alleging the platform caught no more than 31% of fraud threats and disputing about $4 million of annual-minimum fees, which Socure said it would defend.
- Socure's November 2021 Series E release says customers that became investors include Citi Ventures, Wells Fargo Strategic Capital and Capital One Ventures, so several large banks are both shareholders and, by Socure's account, users.
What does Socure sell to banks?
| Product | What it does | Status |
|---|---|---|
| RiskOS[3][15] | Decisioning and orchestration platform that runs Socure's products and 200+ third-party data products in no-code workflows from onboarding to login and payments; built on the Effectiv acquisition. | Generally available |
| Socure Verify (KYC / CIP identity verification)[4] | Checks submitted identity data against trusted sources for customer identification and KYC; Socure claims 99% verification of mainstream populations and 95% of Gen Z consumers (vendor figures). | Generally available |
| Sigma Identity Fraud[5] | Machine-learning model scoring third-party (stolen-identity) fraud risk at account opening in real time; Socure says customers can cut manual reviews below 5%. | Generally available |
| Sigma Synthetic Fraud[6] | Model that flags fabricated and manipulated (synthetic) identities and routes risky ones to step-ups such as eCBSV or document verification. | Generally available |
| Sigma First-Party Fraud[7][16] | Scores first-party ('friendly') fraud and bad-faith disputes using Socure's cross-industry First-Party Fraud Consortium data (190 million contributed identities and 325 million accounts as of December 2024). | Generally available |
| Predictive DocV (document verification)[13][2] | Government-ID scan and selfie match; version 3.0 launched in June 2023 after the Berbix acquisition, and sold self-serve at $0.80 per evaluation. | Generally available |
| Global Watchlist Screening with Monitoring[8] | Sanctions, watchlist and adverse-media screening and ongoing monitoring of individuals, businesses, wallets and payments; Socure claims 30% fewer false positives than legacy tools (vendor figure). | Generally available |
| Remote Verifier[22] | Live-agent identity verification inside RiskOS for the people automated checks cannot verify, launched July 2026 and available across industries. | Generally available |
| RiskOS_Agents (from Fravity)[24][25] | AI agents for fraud, risk and compliance investigations from the August 2026 Fravity acquisition, which Socure says will be delivered through RiskOS. | Announced |
How much does Socure cost?
How it is charged: Per-evaluation self-serve pricing (Socure Launch) with $1,000 of free monthly credits; usage-based enterprise contracts with volume discounts (Socure Enterprise / RiskOS).
| Product | Plan | List price | Unit | Checked |
|---|---|---|---|---|
| Socure Launch (self-serve bundles) | KYC + Fraud + Watchlist, DocV Step up[2] | $1.00 | per evaluation ($1,000 of free monthly credits) | Sep 24, 2026 |
| Socure Launch (self-serve bundles) | Prefill, KYC + Fraud + Watchlist, DocV Step up[2] | $1.30 | per evaluation | Sep 24, 2026 |
| Socure Launch (self-serve bundles) | Document Verification (DocV)[2] | $0.80 | per evaluation | Sep 24, 2026 |
| Socure Launch (self-serve bundles) | Document Verification (DocV) + Watchlist[2] | $0.90 | per evaluation | Sep 24, 2026 |
- Forbes, reporting on Aspiration's April 2024 lawsuit, describes Socure's pricing as an annual license payment, a monthly minimum fee and a variable fee based on transaction volume and services used; Aspiration's renewed contract carried annual minimums of $2.2 million in year one and $2.6 million in year two (figures from Aspiration's complaint as reported by Forbes). (Apr 9, 2024)[14]
Socure publishes per-evaluation prices only for its self-serve Socure Launch bundles; Socure Enterprise (full RiskOS) pricing is not published and is described on the pricing page as usage-based with volume discounts. The only reported enterprise contract terms come from a customer's lawsuit.
Which banks use Socure?
| Bank | What | Status |
|---|---|---|
| Capital One | Identity-fraud screening for the Capital One U.S. Card team, which Socure says raised approval rates and cut false positives; Capital One is also named on Socure's company page[10][1] | In production |
| Citigroup | Identity verification and fraud prevention; Socure's company page and December 2024 release name Citi among organizations that use Socure, and Forbes named Citibank as a customer in 2022[1][16][12] | In production |
| SoFi Technologies | Identity verification and fraud prevention; named a marquee customer in Socure's 2021 Series E release and a founding member of its First-Party Fraud Consortium (2024)[11][16][1] | In production |
| Atlantic Union Bankshares | Machine-learning identity verification and fraud management, listed among the bank's fintech partners in its December 2025 investor-day presentation[26] | In production |
Among the 100 largest US banks on this site, from sources that name the bank: the bank, Socure or the press. Status is the furthest stage a source confirms.
What is RiskOS?
Socure's decision engine and orchestration platform, built on the Effectiv acquisition (announced October 2024), which runs Socure's own identity, fraud and watchlist products alongside third-party data in one workflow; Socure cites an average workflow execution time under 150 milliseconds and more than 200 pre-integrated data products (vendor figures).[3][15]
What has Socure done, and when?
- Aug 27, 2026
- Jul 15, 2026
Launches Remote Verifier[22]
Live-agent verification inside RiskOS for the fewer than 1% of people Socure says its automated checks cannot verify.
- Feb 3, 2026
Launches SocureGov RiskOS[19]
A FedRAMP Moderate authorized version of RiskOS for government agencies, combining identity proofing, fraud detection and program integrity.
- Dec 11, 2025
Matt Thompson named President and CCO[18]
Socure said it had been profitable for 10 months in a row, with ARR nearing $300 million and 51% year-over-year revenue growth in Q3 2025.
- Dec 5, 2025
Acquires Qlarifi (BNPL credit data)[17]
Socure bought Qlarifi, a real-time buy-now-pay-later consumer credit database, to combine BNPL repayment data with its identity graph and RiskOS.
- Dec 5, 2024
First-Party Fraud Consortium reaches 190 million identities[16]
Socure said its consortium, whose founding members include five of the top 10 US financial institutions and SoFi, pooled 190 million contributed identities, 325 million accounts and 20 billion transactions.
- Oct 24, 2024
Agrees to acquire Effectiv for $136 million[15]
Socure signed an agreement to buy real-time risk-decisioning company Effectiv, the basis of its RiskOS platform, saying it then served more than 2,700 customers.
- Apr 3, 2024
Sued by neobank Aspiration[14]
Aspiration sued to avoid about $4 million of annual-minimum fees, alleging Socure caught no more than 31% of its fraud threats; Socure said it would defend the case.
- Jun 27, 2023
Acquires Berbix; launches Predictive DocV 3.0[13]
Socure's first acquisition, for about $70 million in cash and stock, added Berbix's document-forensics engine and led to Predictive DocV 3.0.
- Jun 17, 2022
Lays off 13% of staff[12]
Socure cut 69 jobs, mainly in marketing, sales and HR, as fintech customers slowed sign-ups; about 80% of its revenue was transaction-based, CEO Johnny Ayers told Forbes.
- Nov 9, 2021
$450 million Series E at $4.5 billion[11]
Accel and T. Rowe Price-advised funds led the round, with new investors Bain Capital Ventures and Tiger Global; Socure said four of the five largest banks used its ID+ platform.
- Jun 3, 2021
Capital One Ventures invests; Capital One card results disclosed[10]
Capital One Ventures made a strategic investment; Socure said Capital One had become one of its top clients, and Capital One's head of fraud and servicing strategy said Socure increased its accuracy in identifying fraud. Socure's Series D a month earlier valued it at $1.3 billion.
- Aug 25, 2020
$35 million round with Citi Ventures and Wells Fargo Strategic Capital[9]
A round led by Sorenson Ventures added Citi Ventures, Wells Fargo Strategic Capital and MVB Financial as strategic investors, bringing total funding to $96 million.
- Jan 1, 2012
Socure founded[12]
Socure was founded in 2012 to verify online identities with machine learning; it later moved its headquarters from New York City to Nevada.
What do banks use Socure for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| Identity and synthetic-identity fraud screening at account opening[10][5][6] | Sigma Identity Fraud and Sigma Synthetic Fraud scores on new applications; Capital One's U.S. Card team uses Socure to identify fraud. | In production | Fraud detection |
| Customer identification (CIP/KYC) and watchlist screening[4][8][11] | Socure Verify checks identity data for KYC, and Global Watchlist Screening screens and monitors customers against sanctions and adverse-media lists. | In production | AML / KYC |
| First-party fraud and bad-faith disputes[7][16] | Sigma First-Party Fraud draws on a consortium of banks, fintechs and other firms to flag dispute abuse and bust-out risk, including Regulation E dispute exploitation. | In production | Fraud detection |
| AI agents for fraud and compliance investigations[24][25] | RiskOS_Agents, from the Fravity acquisition, are meant to automate case investigation, onboarding due diligence, disputes and AML work. | Announced | Generative & agentic AI |
| BNPL credit data in lending decisions[17] | Qlarifi's real-time buy-now-pay-later repayment data, acquired in December 2025, is being combined with RiskOS decisioning for lenders. | Announced | Credit scoring & underwriting |
What has Socure disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Total annual recurring revenue (vendor-reported) | $364 million, up 63% year over year; 133% net dollar retention; 0.01% logo churn[23] | Jun 30, 2026 |
| Valuation | $5.2 billion after a Summit Partners-led strategic growth investment, reported by Finovate as $156 million[24][25] | Aug 27, 2026 |
| 2025 ARR and identity verifications (vendor-reported) | $315 million of ARR and more than 5 billion identity verifications in 2025[20] | Dec 31, 2025 |
| Customers (vendor-reported) | More than 3,000 customers, including 18 of the top 20 banks and more than 600 fintechs; 95 new customers added in Q2 2026[23] | Jun 30, 2026 |
| Fravity results across existing deployments (vendor-reported) | Cost per case cut by 80%, case resolution up to 5x faster, false positives cut by as much as 70%[24] | Aug 27, 2026 |
| Series E (2021) | $450 million at a $4.5 billion valuation[11] | Nov 9, 2021 |
“AI broke the economics of fraud and compliance operations, and no institution is going to hire their way out of it,”[24]
Johnny Ayers · Co-Founder and CEO, Socure · Aug 27, 2026
“Integrating Socure’s technology has meaningfully increased our accuracy in identifying fraud, resulting in a reduction in customer friction while also preventing additional fraud,”[10]
Sarah Strauss · Senior Vice President, Head of Fraud & Servicing Strategy, Capital One · Jun 3, 2021
“We do not comment on pending litigation, but we look forward to defending this matter through the legal process.”[14]
Socure · Statement to Forbes on the Aspiration lawsuit · Apr 9, 2024
Who runs Socure?
Matthew Thompson
President and Chief Commercial Officer (since December 2025; previously Chief Revenue Officer)[18]
Chung-Man Tam
Chief Product Officer (joined May 2026; previously SVP of Product Development at Affirm)[21]
Pablo Abreu
Chief AI and Innovation Officer (since May 2026)[21]
Arun Kumar
Chief Technology Officer[1]
Which rules apply to a bank using Socure?
| Authority | Why it matters here | Documents |
|---|---|---|
| Federal Reserve | Socure's Sigma fraud scores and identity-verification models are vendor machine-learning models used in onboarding decisions; a bank relying on them is expected to validate and monitor them under the revised interagency model risk guidance (SR 26-2), while agentic tools such as RiskOS_Agents fall outside its scope. | SR 26-2 |
| OCC | Outsourcing customer identification and fraud screening to Socure is a third-party relationship under OCC Bulletin 2023-17, including due diligence on the consortium data Socure pools across clients; OCC Bulletin 2026-13 sets model-risk expectations for the vendor models themselves. | OCC Bulletin 2023-17 OCC Bulletin 2026-13 |
| FinCEN | Socure's document verification, selfie match and synthetic-identity models are bought against the deepfake identity documents and synthetic identities that FinCEN's 2024 alert describes, and its KYC and watchlist products feed the bank's own BSA/AML program. | FIN-2024-Alert004 (Deepfake Media) |
| CFPB | When a Socure identity or fraud score, or Qlarifi BNPL data, contributes to declining a credit application, the bank's ECOA/Regulation B and FCRA adverse-action notice duties apply to that decision. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) FCRA adverse action and credit-score disclosures (15 U.S.C. 1681m, 1681g(f)) |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness.
What should a bank note before buying Socure?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
Self-serve prices are published; enterprise prices are not
Socure lists $0.80 to $1.30 per evaluation for four pre-built Socure Launch bundles, but full RiskOS contracts are usage-based and unpriced; the only public enterprise terms (annual license, monthly minimum, variable fees, multimillion-dollar annual minimums) come from a customer's lawsuit.
02
Performance figures are Socure's own
Verification rates (99% of mainstream populations), manual-review reductions and Fravity's 80% cost-per-case cut are vendor-reported; Aspiration's 2024 complaint alleged the platform caught no more than 31% of its fraud threats versus up to 95% advertised.
03
Bank customer evidence is mostly name-level
Socure names Capital One, Citi and SoFi as users and Atlantic Union lists it in its technology stack, but only Capital One's use (U.S. Card fraud) is described in a source; '18 of the top 20 banks' is an unnamed vendor claim.
04
Several customer banks are also shareholders
Citi Ventures, Wells Fargo Strategic Capital and Capital One Ventures invested in Socure, and Wells Fargo joined the August 2026 round; the record does not say whether investment terms relate to commercial terms.
05
The product set changed quickly through acquisitions
Berbix (2023), Effectiv (2024), Qlarifi (2025) and Fravity (2026) were each folded into RiskOS; RiskOS_Agents and Qlarifi BNPL data were announced rather than shown in use at a bank as of September 2026.
What are the alternatives to Socure?
Feedzai
RiskOps platform for bank fraud, scam and AML prevention: transaction scoring, behavioral biometrics and network intelligence.
Featurespace
Real-time behavioral fraud and AML scoring for banks and processors (The Featurespace Platform, formerly ARIC Risk Hub); a Visa unit.
BioCatch
Behavioral-biometric and device intelligence that scores digital banking sessions for account takeover, scams, mules and application fraud.
Sardine
Fraud and AML platform: device and behavioral signals, transaction monitoring, sanctions screening and AI agents for alert review.
Alloy
Identity and fraud prevention platform: onboarding KYC/KYB, fraud and login risk scoring, AML monitoring and data orchestration.
Pindrop
Phone-channel fraud scoring, passive caller authentication and voice deepfake detection for bank contact centers.
How much does Socure cost?
Socure publishes self-serve prices for its Socure Launch bundles: $0.80 per evaluation for document verification, $0.90 with watchlist screening, $1.00 for KYC plus fraud plus watchlist with a document step-up, and $1.30 with prefill, plus $1,000 of free monthly credits. Enterprise RiskOS pricing is usage-based with volume discounts and is not published; a 2024 lawsuit reported by Forbes described an annual license, monthly minimums and volume-based fees.
Which banks use Socure?
Among the 100 largest US banks we track, Socure names Capital One, Citi and SoFi as organizations that use it, and Capital One's fraud strategy head was quoted in 2021 on Socure improving fraud accuracy for its U.S. Card team. Atlantic Union lists Socure among its fintech partners for identity verification and fraud management. Socure also says its customers include 18 of the top 20 banks, without naming them all.
Who owns Socure?
Socure is privately held. An August 2026 strategic growth investment led by Summit Partners, with Goldman Sachs Alternatives, Wells Fargo and Docusign, valued it at $5.2 billion. Earlier investors include Accel, T. Rowe Price-advised funds, Bain Capital Ventures, Tiger Global, Sorenson Ventures, Commerce Ventures and the venture arms of Citi, Wells Fargo and Capital One. Founder Johnny Ayers is CEO.
Is Socure a bank or a regulated financial institution?
No. Socure is a software and data vendor that sells identity verification, fraud scoring and sanctions screening to banks, fintechs and government agencies. The banks using it remain responsible for their customer identification, BSA/AML and fraud controls, and supervisors treat Socure as a third-party provider whose models and data the bank must oversee.
What did Socure buy Fravity for?
Socure announced the Fravity acquisition on August 27, 2026 without disclosing a price. Fravity, founded in 2024, builds AI agents for investigations and workflows in onboarding, business due diligence, dispute resolution and AML compliance (Finovate); Socure plans to deliver them inside RiskOS as RiskOS_Agents. Socure says Fravity cut cost per case by 80% in existing deployments, a vendor-reported figure.
What is Socure RiskOS?
RiskOS is Socure's decisioning and orchestration platform, built on its 2024 acquisition of Effectiv. It runs Socure's identity verification, fraud models, document verification and watchlist screening together with more than 200 third-party data products in configurable workflows covering onboarding, login, payments and account changes. Socure cites an average workflow execution time under 150 milliseconds.
Has Socure had layoffs or legal disputes?
Yes. In June 2022 Socure laid off 69 employees, 13% of its staff, mainly in marketing, sales and HR, as fintech customers slowed sign-ups; Forbes also reported discrimination claims sent to arbitration and a suit by co-founder Sunil Madhu over stock options. In April 2024 the neobank Aspiration sued Socure over about $4 million of annual-minimum fees, alleging weak fraud capture; Socure said it would defend the case.
- About Socure | The AI Platform for Identity & Risk (undated page, retrieved 2026-09-24)
- Socure Pricing | AI-Powered Identity & Fraud Prevention Platform (undated page, retrieved 2026-09-24)
- RiskOS®: Data Orchestration Platform & Risk Decisioning (undated page, retrieved 2026-09-24)
- KYC Verification Software | Socure Verify (undated page, retrieved 2026-09-24)
- Third-Party Fraud Detection Software | Sigma Identity Fraud V4.5 (undated page, retrieved 2026-09-24)
- Synthetic Identity Fraud Detection | Sigma Synthetic V4.5 | Socure (undated page, retrieved 2026-09-24)
- Sigma First-Party Fraud Detection Software | Socure (undated page, retrieved 2026-09-24)
- Sanctions Screening Software for Compliance | Socure (undated page, retrieved 2026-09-24)
- Socure Closes New Round of Funding, with Participation from Major Banks
- Socure Increases Approval Rates and Slashes False Positives for Capital One U.S. Card Team as Capital One Ventures Completes Strategic Investment in Company
- Socure Accelerates Mission to be the First to Verify 100% of Identities and Eliminate Identity Fraud Across all Industries with a $450M Investment Led by Accel and T. Rowe Price at a $4.5B Valuation
- Facing Slowing Growth And Worker Discontent, High-Flying Fintech Unicorn Socure Lays Off 13% Of Staff
- Socure Acquires Berbix for Approximately $70 Million in Cash and Stock, Together Delivering the Fastest, Most Accurate ID Verification Solution Worldwide
- Troubled Fintech Aspiration Sues Vendor, Alleging Former Exec Was Influenced By Lavish Perks
- Socure to Acquire Effectiv for $136M
- Socure's First-Party Fraud Consortium Achieves Unprecedented Scale, Uniting Industry Leaders Across Industries to Combat $100B Problem
- Socure Acquires Qlarifi, Establishing the First Real-Time BNPL Credit System and Setting a New Standard for Safe, Low-Cost Payments
- Socure Names Matt Thompson President & Chief Commercial Officer in the Wake of Accelerating Hypergrowth
- Socure Launches SocureGov RiskOS® to Help Government Agencies Outpace Fraud and Modernize Digital Identity
- Socure Named to Forbes Fintech 50 as the Top Startup Powering Identity and Risk Infrastructure
- Socure Appoints Chung-Man Tam as Chief Product Officer, Names Pablo Abreu Chief AI and Innovation Officer
- Socure Launches Remote Verifier to Verify 100% of Identities
- Socure Q2 2026 Results: $364M Total ARR and 63% YoY Growth
- Socure Announces Strategic Growth Investment at $5.2B Valuation and Acquires Agentic Operations Platform Fravity
- Socure Secures New Investment, Acquires Fraud Platform Fravity
- Atlantic Union Bankshares Investor Day presentation, December 10, 2025 (Form 8-K, Exhibit 99.1)
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