Another company is turning to Socure for customer onboarding and identity verification. Dibbs operates a blockchain marketplace that issues NFT versions of physical collectibles to give users a way to invest in rare physical items that they might not be able to acquire on their own. They can also buy and sell their shares of those items to other people on the Dibbs platform.
Socure, meanwhile, is best known for its face-based identity verification technology. The company’s Socure ID+ platform allows people to register for services remotely, with advanced risk scoring to deliver extremely high auto-approval rates for mainstream (98 percent) and thin-file users (94 percent). In doing so, the company’s platform mitigates the need for time-consuming manual reviews in the onboarding process.
For its part, Dibbs believes that its use of Socure ID+ will improve trust and give people more confidence about the underlying security of its platform. That, in turn, will make people feel more comfortable making an investment, to the point that Dibbs expects to see a 20 percent increase in the number of first-time deposits from new customers.
“A data-driven approach to identity verification and fraud prevention is critical to the growth of marketplaces like Dibbs,” said Socure Founder and CEO Johnny Ayers. “In our work with Dibbs, we let more good customers in and keep bad actors out, while substantially increasing potentially the most valuable metric in deposit conversion rates to bring collectibles to the digital era.”
“Modern collectors expect an intuitive onboarding process that’s fast, secure, and convenient,” added Dibbs Co-founder and CEO Evan Vandenberg. “With Socure, we gain the trust of our customers from the start and accelerate first deposits without opening ourselves up to fraud.”
Dibbs cited Socure’s ease of use as a key factor in its decision, noting that the single API and customizable dashboard allowed it to implement the solution more quickly. In the meantime, Socure has published a primer that organizations can follow to make sure that they remain compliant with rapidly changing international sanctions requirements.