How Socure Helped a Global Remittance Leader Turn KYC Complexity into a 10-Point Gain
Blog post from Socure
A global remittance provider improved KYC approval rates by using its existing data more effectively rather than adding data sources or changing policies. In a proof of concept using identical rules, Socure’s adaptive identity-verification model applied broader data coverage, graph intelligence, and data normalization to standardize regional variations in addresses, postal codes, and date formats before decisions were made. The analysis found that formatting inconsistencies alone had caused rejections of 1.8% of addresses and 1.3% of dates of birth, while relaxing day-month date transpositions produced a further 5.3% approval increase without added risk. Across 60,000 labeled transactions, U.S. approvals rose from 60% to 70%, with similar global gains, fewer false positives and manual reviews, and stable fraud and loss rates, suggesting that adaptive interpretation of inconsistent identity data can recover legitimate customers previously blocked by rigid validation.
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