NEW YORK--(BUSINESS WIRE)--Socure, the leading provider of identity verification and fraud prevention services, today announced that company co-founder Sunil Madhu has resigned as Chief Strategy Officer and member of the Board of Directors. Mr. Madhu was instrumental in helping Socure develop its proof of concept digital identity platform into a market leading technology. He is departing to pursue a new venture.
“All of us at Socure will miss Sunil’s intellect, creativity and guidance, but are excited to see what he will invent next,” said Tom Thimot, CEO of Socure. “Sunil and his team built a world class technology platform that is being used by leaders in financial services and other sectors. Socure will continue to expand on Sunil’s original vision and beyond.”
“After building the most accurate AI powered identity verification platform in the world, which has outperformed Google and IBM in head-to-head customer tests, I'm leaving Socure in the capable and experienced hands of my friend and colleague, Tom Thimot and our amazing team,” said Sunil Madhu. “Having helped the company consistently scale its annual revenue by 300% for the past several years, I’m turning my attention to a disruptive new venture."
Socure is the leader in creating high-assurance digital identity verification technology. Its predictive analytics platform applies artificial intelligence and machine-learning techniques with trusted online/offline data intelligence from email, phone, address, IP, social media and the broader Internet to authenticate identities in real-time. Socure powers financial inclusion, increasing acceptance as much as 40 percent for millennials and other thin-file consumers. It also bolsters CIP/KYC programs and AML compliance for enterprises in the US, helping them to reduce fraud up to 80 percent and lower manual review costs as much as 90 percent. Socure was founded in 2012 and is based in New York City.