How To Ensure Your Organization Can Onboard Gen Z
Blog post from Socure
Generation Z, born between 1996 and 2012, is projected to become the leading consumer group within the next decade, with global income expected to rise from $7 trillion to $33 trillion by 2030. However, many Gen Z consumers have limited credit histories and favor alternatives such as Buy Now, Pay Later over traditional credit products, making credit-dependent identity verification systems less effective and potentially causing businesses to lose legitimate applicants. Socure argues that its identity verification platform uses alternative data sources and AI-driven analysis alongside credit information to improve coverage and automated approvals while managing fraud risk, reporting a 10% coverage increase for consumers aged 18–25 and a 30–40% advantage over legacy providers. For consumers who remain difficult to verify, the company integrates the government-backed eCBSV service, which validates personal information against U.S. Social Security databases and is presented as a way to increase assurance, reduce synthetic identity fraud, and expand access for credit-invisible or underbanked applicants.
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