'Socure' Announced a 783% Revenue Growth and Improved Services
Colin Smith — March 29, 2022 — Tech
References: socure & businesswire
'Socure' is a leading provider of solutions for digital identity verification and digital fraud prevention. The company was founded in 2012, and has seen explosive growth in recent years. Socure announced a revenue growth of 783% from 2017 to 2020, as well as a 221% consumer growth per year since then. Socure has also won a spot on the 'Deloitte Technology Fast 500' for its incredibly fast-growing company.
With this new growth and high revenue stream, Socure will improve its services, scale its client base wider, and continue to remain at the cutting edge of digital identity verification. As of November 2021, Socure is actively used by large credit card providers, banks, online gaming companies, marketplaces, telehealth providers, and countless other e-commerce and online service providers. Socure enables its clients to benefit from a quick and easy verification system that assures each user's identity while preventing fraud and harmful data breaches.
Image Credit: Shutterstock
With this new growth and high revenue stream, Socure will improve its services, scale its client base wider, and continue to remain at the cutting edge of digital identity verification. As of November 2021, Socure is actively used by large credit card providers, banks, online gaming companies, marketplaces, telehealth providers, and countless other e-commerce and online service providers. Socure enables its clients to benefit from a quick and easy verification system that assures each user's identity while preventing fraud and harmful data breaches.
Image Credit: Shutterstock
Trend Themes
1. Enhanced Digital Identity Verification - Socure's success in fraud prevention industry presents opportunities for enhancing digital identity verification systems to prevent fraud and protect user data.
2. Increased Reliance on Online Services - The rapid growth of Socure's fraud prevention solutions suggests a trend towards increased reliance on online services, creating opportunities for companies to offer secure and trustworthy digital experiences for users.
3. Expansion of Digital Payments - The growth of companies like Socure in digital fraud prevention also creates opportunities for the expansion of digital payments and financial inclusivity.
Industry Implications
1. Financial Services - Socure's success in digital identity verification and fraud prevention presents opportunities for financial service providers to offer better services to customers, reduce fraud and protect user data.
2. Online Retail - E-commerce and online retail companies can benefit from Socure's advanced verification system to offer a secure and trustworthy user experience, reducing fraud and improving customer trust.
3. Telemedicine - As Socure's verification system is used by telehealth providers, there is an opportunity for telemedicine to expand and become more accessible to patients by introducing digital verification systems.
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