Case Study: Leading Online Lender reduces fraud by 50% and expands loan approvals with Socure

Lending Online Company - Customer Case Study

Lending Online Company, a digital‑only lender focused on serving millennials with products like student loan refinancing, mortgages and personal loans, faced rapidly rising new‑account fraud as its customer base exploded. Existing device intelligence and credit‑bureau identity tools generated many false positives (more than 10 false alerts per true fraud) and still let fraud slip through, so the lender selected Socure for identity verification after proof‑of‑concept testing.

Socure deployed its AI‑driven, real‑time identity verification platform (later expanded to CIP, AML and document authentication), cutting fraudulent loan applications getting through by over 50% while adding no friction for legitimate customers. As a result, Lending Online Company was able to approve billions of dollars in new loans, increase auto‑accept rates and streamline reviews; the case study also highlights potential gains of 20%+ higher auto‑accept, >80% fraud‑loss reduction and >75% reduction in manual review time.