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Socure Estimates Financial Losses from Synthetic Fraud to Reach Nearly $5B by 2024

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Thursday, October 20, 2022

If synthetic identity fraud continues to go unchecked, losses will double from the estimated $2.48 billion this year to nearly $5 billion in 2024, the research shows.

Key Points:

If synthetic identity fraud continues to go unchecked, losses will double from the estimated $2.48 billion this year to nearly $5 billion in 2024, the research shows.
The report documents some of the most recent patterns employed by synthetic fraudsters, such as launching increased attacks on demand deposit accounts (DDAs).
At Socure, we strongly believe we can eradicate synthetic fraud within the next three years, and stop the damage that bad actors are committing against consumers and our financial system.
Synthetic Identity Fraud is Growing, Morphing
The Department of Justice has said that synthetic identity fraud is the countrys fastest growing financial crime.

Socure Launches Newest Sigma Synthetic Fraud Model Adding Unrivaled Precision to its Identity Fraud Suite

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Thursday, October 20, 2022

Socure , the leading provider of digital identity verification and fraud solutions, today announced the debut of its newest Sigma Synthetic Fraud model, a synthetic identity fraud detection solution that identifies manipulated and fabricated identities with unmatched precision.

Key Points:

Socure , the leading provider of digital identity verification and fraud solutions, today announced the debut of its newest Sigma Synthetic Fraud model, a synthetic identity fraud detection solution that identifies manipulated and fabricated identities with unmatched precision.
Core to the precision of Sigma Synthetic Fraud is the integration of two critical fraud-fighting features: powerful machine learning technology (ML) and expert fraud investigators.
Socure combines the knowledge and expertise of fraud investigators with the computational and statistical capabilities of advanced ML, making its solution highly effective in detecting synthetic identity fraud.
With Sigma Synthetic Fraud, Socure fraud investigators provide clean, corrected, and properly classified fraud labels for unlabeled or mislabeled raw data.

Autonomy and Nova Credit Launch Partnership to Expand Access to Electric Vehicles

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Wednesday, October 19, 2022

Today Nova Credit , the worlds leading consumer-permissioned credit bureau, and Autonomy , the nations largest electric vehicle subscription company, announced a partnership to help make access to electric vehicles easier for credit customers with thin file or no credit history The partnership will enable Autonomys application process with Nova Credits cash flow underwriting solution, Cash Atlas, allowing Autonomy to qualify a greater number of customers with thin file, or no credit history for a vehicle subscription.

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Today Nova Credit , the worlds leading consumer-permissioned credit bureau, and Autonomy , the nations largest electric vehicle subscription company, announced a partnership to help make access to electric vehicles easier for credit customers with thin file or no credit history The partnership will enable Autonomys application process with Nova Credits cash flow underwriting solution, Cash Atlas, allowing Autonomy to qualify a greater number of customers with thin file, or no credit history for a vehicle subscription.
This streamlined, data-driven process will help Autonomy sustain rapid yet qualified customer growth as it expands into additional geographies and other in-demand electric vehicles.
Autonomy and Nova Credit will be attending Money 20/20 October 23-26, 2022 in Las Vegas.
Nova Credit is a consumer-permissioned credit bureau with two products that help businesses make more fair and informed decisions on millions of thin file, no credit history, or new-to-country applicants.

Media Alert: Socure Spotlights Vital Role of Accurate Identity Verification in Financial Services, Government During Money20/20 Conference

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Tuesday, October 18, 2022

Featured at the event, Jordan Burris, Vice President, Public Sector Strategy at Socure, and other notable experts, will discuss The State of Identity in Government , in which they will outline initiatives around identity verification and fraud prevention within federal and state governments.

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Featured at the event, Jordan Burris, Vice President, Public Sector Strategy at Socure, and other notable experts, will discuss The State of Identity in Government , in which they will outline initiatives around identity verification and fraud prevention within federal and state governments.
Session details are as follows:
Attendees can stop by booth #1000 to learn how organizations can drive revenue growth with highly accurate identity verification while reducing soaring fraud during an economic downturn.
To learn more about how to join Socure at Money20/20 or to book an on-site meeting, visit www.socure.com/money2020
Socure is the leading platform for digital identity verification and trust.
Socure customers have become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, and Synchrony.

Bond Launches Credit Card as a Service Using i2c’s Global Platform

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Monday, October 17, 2022

i2c Inc. , a leading provider of digital payment and banking technology, today announced its partnership with Bond Financial Technologies Inc. , the leading embedded finance platform, to offer easier credit access to Americans through the Credit Builder Card and Bond Credit .

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i2c Inc. , a leading provider of digital payment and banking technology, today announced its partnership with Bond Financial Technologies Inc. , the leading embedded finance platform, to offer easier credit access to Americans through the Credit Builder Card and Bond Credit .
Powered by i2cs agile SaaS platform, Bond Credit Builder Card allows businesses to offer a secured credit building program for their customers in a matter of weeks, not months, with approved customers being able to use their card wherever Mastercard or Visa are accepted.
With consistent on-time payments, Bond-secured Credit Builder Card users will be able to increase their credit scores over time.
With our credit products being backed by i2cs agile processing platform, companies can now launch credit programs with Bond quickly and seamlessly.

Goldman Sachs Recognizes Socure Founder & CEO Johnny Ayers as One of the Most Exceptional Entrepreneurs for the Second Year in a Row

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Wednesday, October 12, 2022

Socure , the leading provider of digital identity verification and fraud solutions, announced today that Founder and CEO Johnny Ayers has been recognized by Goldman Sachs (NYSE:GS) as one of the Most Exceptional Entrepreneurs of 2022 for the second year in a row.

Key Points:

Socure , the leading provider of digital identity verification and fraud solutions, announced today that Founder and CEO Johnny Ayers has been recognized by Goldman Sachs (NYSE:GS) as one of the Most Exceptional Entrepreneurs of 2022 for the second year in a row.
This elite group of entrepreneurs includes visionary founders that continuously disrupt the status quo and establish a new gold standard within their industries.
Were delighted to recognize Johnny as one of the most exceptional entrepreneurs of 2022, said David M. Solomon, Chairman and CEO of Goldman Sachs.
Im humbled to be honored by such a reputable and respected brand as Goldman Sachs for the second year in a row.

SoFi Schedules Conference Call to Discuss Q3 2022 Results

Retrieved on:

Tuesday, October 11, 2022

SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of ambitious people.

Key Points:

SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of ambitious people.
SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.
The information that SoFi posts on these channels and websites could be deemed to be material information.
As a result, SoFi encourages investors, the media, and others interested in SoFi to review the information that is posted on these channels, including the investor relations website, on a regular basis.

OatFi emerges from stealth to improve working capital for SMBs with $8 million in Seed funding

Retrieved on:

Tuesday, October 11, 2022

OatFi, a company that provides working capital infrastructure for B2B payments platforms, today announced an $8 million Seed round.

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OatFi, a company that provides working capital infrastructure for B2B payments platforms, today announced an $8 million Seed round.
This brings the total funding to $11.25 million, following a $3.25 million pre-seed round co-led by Portage Ventures and Picus Capital earlier this year.
OatFi provides the end-to-end infrastructure for B2B payment platforms to launch embedded working capital tools such as buy now pay later (BNPL) or various receivables financing products.
An SMBs working capital issue could exist on both sides of their cashflow conversion cycle, depending on their relationship with suppliers and customers.

Canadian Startup SRTX Wins $1 Million Grand Prize at Startup World Cup 2022, Organized by Pegasus Tech Ventures

Retrieved on:

Monday, October 10, 2022

SAN JOSE,Calif., Oct. 10, 2022 /PRNewswire/ -- Months of preparation and pitching by thousands of entrepreneurs around the world came down to ten finalists at the Startup World Cup Grand Finale event on September 30, 2022, at the Marriott Marquis in San Francisco. The event was organized and by Pegasus Tech Ventures, a Silicon Valley-based global venture capital firm. An all-female panel of independent venture capital investors judged the pitches of the ten finalists and ultimately awarded the grand prize - a $1 million investment - to SRTX, a materials science technology company that won the regional Startup World Cup competition in Toronto, Canada.

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The event was organized and by Pegasus Tech Ventures, a Silicon Valley-based global venture capital firm.
We congratulate the SRTX team for their tremendous success at the Startup World Cup 2022 Grand Finale," said Anis Uzzaman, Founder and CEO of Pegasus Tech Ventures and Chairman of Startup World Cup.
Startup World Cup was created by Pegasus Tech Ventures to celebrate entrepreneurship around the world.
Startup World Cup is organized by Pegasus Tech Ventures in partnership with investors and local sponsors.

QED Investors Named to Inc.’s 2022 List of Founder-Friendly Investors

Retrieved on:

Thursday, October 6, 2022

Inc. today announced QED Investors was named to its annual Founder-Friendly Investors list, honoring the venture capital and private equity firms with the best track record of success backing entrepreneurs.

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Inc. today announced QED Investors was named to its annual Founder-Friendly Investors list, honoring the venture capital and private equity firms with the best track record of success backing entrepreneurs.
QED is thrilled to again be named to Inc.s list of founder-friendly investors, said QED Investors Managing Partner, Nigel Morris.
To see the complete list, go to: https://www.inc.com/founder-friendly-investors/2022
QED Investors is a global leading venture capital firm based in Alexandria, Va.
Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide.