Partnering for Advanced Business Identity Verification: Socure and Baselayer Join Forces to Implement RiskOSTM Technology
Socure and Baselayer Join Forces for Smarter, Faster, and Safer Business Identity Verification
In a significant move, Socure, a leading identity verification and fraud prevention solution, has partnered with Baselayer, a market-leading Business Identity, Credit, and Fraud provider. This collaboration marks the latest expansion of Socure's RiskOS partner ecosystem, now including over 85 pre-integrated data providers.
The partnership aims to unify and de-risk the fragmented business identity landscape, as stated by Jonathan Awad, Co-Founder & CEO of Baselayer. This unified approach will enable government agencies, marketplaces, and financial institutions to streamline grant disbursements, contract vetting, and onboarding processes.
The Socure-Baselayer integration brings together Know Your Business (KYB), fraud detection, and continuous risk monitoring into one seamless process. This integration accelerates onboarding while proactively stopping fraud. Baselayer's business identity network, which aggregates fraud and risk signals from over 2,200 financial institutions, is integrated into Socure's RiskOS platform.
The combined solution delivers smarter verification and risk decisions at scale. It provides real-time alerts on risky behaviors, early detection, and continuous monitoring. Businesses with low risk can be greenlit faster using corroborated identity signals, preventing unnecessary burdens on good customers and enabling smoother onboarding, especially beneficial for sole proprietors and small businesses.
Moreover, the partnership enhances fraud detection, reduces false positives, and increases automation in complex KYB workflows, resulting in faster revenue capture, improved compliance, and a streamlined onboarding experience for all.
In banking and lending, institutions can accelerate KYB and underwriting with higher auto-approval rates and fewer false positives. Fintechs and B2B SaaS platforms can fight promotional abuse and duplicate account creation using Baselayer's fraud signals layered into RiskOS workflows.
Johnny Ayers, Founder and CEO of Socure, states that RiskOS was purpose-built to be the most open, intelligent, and powerful decisioning platform in the industry. RiskOS is an extensible risk decisioning platform that allows for real-time workflows and confident decisions with unparalleled speed and precision.
The collaboration showcases Socure's commitment to growing its partner ecosystem. The partnership now touches approximately 40 percent of the U.S. financial services market. The key benefits of this partnership for businesses include enhanced identity verification, fraud prevention, and streamlined onboarding through a unified and intelligent platform combining their capabilities.
[1] Unified KYB and fraud detection in a single workflow [2] Access to extensive consortium fraud signals [3] Network intelligence surfacing subtle fraud patterns [4] Early detection and continuous monitoring [5] Reduced friction and false positives in onboarding [6] Privacy-preserving data sharing
- The Socure-Baselayer integration, as part of Socure's RiskOS platform, now unifies Know Your Business (KYB) and fraud detection in a single workflow, aimed at streamlining onboarding while proactively stopping fraud.
- By integrating Baselayer's business identity network - which aggregates fraud and risk signals from over 2,200 financial institutions - into its platform, Socure provides access to extensive consortium fraud signals, enabling early detection, continuous monitoring, and reduced friction and false positives in the onboarding process.
