Socure acquires Effectiv for $136M to enhance fraud detection and serve midmarket clients.
Socure, a Nevada-based digital identity verification firm, is set to acquire San Francisco's Effectiv for $136 million. This acquisition aims to enhance Socure's fraud detection capabilities and expand its service to midmarket clients. Effectiv's AI-driven platform will allow Socure to implement complex risk decisioning and integrate various fraud controls, improving real-time decision-making against identity theft and fraud. Socure currently serves over 2,700 clients, including major financial institutions.
5 months ago
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