Case Study: International Money Transfer Company achieves 45% reduction in fraud losses and 13% higher new-customer approvals with Socure

International Money Transfer Company Uses Socure to Identify Customers Online with High Accuracy and Low Risk

International Money Transfer Company, which enables global remittances for customers with and without traditional banking access, faced the challenge of verifying the “faceless customer” online and replacing a legacy, credit‑bureau‑dependent identity solution that excluded many users. To meet its mission of safe, inclusive transfers the company turned to Socure, leveraging Socure’s ID+ platform to get higher‑assurance digital identity verification.

Socure implemented its ID+ Fraud Scores and AML Standard solutions via a simple RESTful API that returns results in under a second and integrates into the company’s decisioning flow. The deployment cut fraud loss dollars by 45% (beating the original 25% target), increased new customer approvals by 13%, reduced manual review rates by 70%, and lowered false positives by 20%, while enabling faster, more accurate onboarding and continuous model improvement with Socure.