Socure, the provider of digital identity verification and fraud solutions, has announced that Dibbs, the real-time, blockchain-enabled marketplace for collectors, “is using the Socure ID+ platform to provide a faster, more accurate collector onboarding experience.”
With the accuracy of Socure’s graph-defined identity verification and fraud platform, Dibbs expects “at least a 20% increase in first-time deposits.”
New customers are now “verified in milliseconds, establishing trust with even the most privacy-conscious collectors at first deposit.”
Evan Vandenberg, co-founder and CEO of Dibbs, stated:
“With emerging digital technologies powering new ways for collectors to access, buy, and sell the items they care about most, the collectibles market is only getting more competitive. Modern collectors expect an intuitive onboarding process that’s fast, secure, and convenient.”
Vandenberg added:
“With Socure, we gain the trust of our customers from the start and accelerate first deposits without opening ourselves up to fraud. Collectors can then more quickly access and own highly sought-after physical collectibles that are authenticated, vaulted, insured, tokenized, and minted into the digital ecosystem by Dibbs.”
As noted in an update shared with Crowdfund Insider, Dibbs “enables collectors to buy and sell fractions of physical collectibles in real time.”
By minting collectibles as NFTs, the company “gives customers access to items they’re passionate about, and highly sought-after physical items maintain relevance and gain utility in the digital world with instant, flexible liquidity.”
Using Socure’s ID+ platform, Dibbs can “unlock, scale, and speed up customer acquisition.”
From a deployment perspective, Dibbs also “benefits from Socure ID+’s quick implementation process via a single API and a no-code customization dashboard.”
Additionally, Socure’s auto-approval rates (up to 98% for mainstream populations and up to 94% for hard-to-identify populations such as Gen Z, millennials, credit invisible, thin-file, and new-to-country) and dynamic risk scoring “mean dramatically reduced manual reviews and real-time verification for low-risk customers.”
Johnny Ayers, founder and CEO of Socure, remarked:
“A data-driven approach to identity verification and fraud prevention is critical to the growth of marketplaces like Dibbs. In our work with Dibbs, we let more good customers in and keep bad actors out, while substantially increasing potentially the most valuable metric in deposit conversion rates —helping to bring collectibles to the digital era with the most accurate identity fraud classification model in the industry. And we do so without compromising on customer acquisition speed, experience or scale.”
Dibbs is “a real-time, blockchain-enabled marketplace for collectors.” Collectors can “access and own highly sought after physical collectibles that are authenticated, vaulted, insured, tokenized, and minted into the digital ecosystem by Dibbs.”
Through this approach, Dibbs “ensures that physical collectibles maintain relevance in an increasingly digital-first world.”
Since its launch in 2021, Dibbs has reportedly “processed millions of dollars across hundreds of thousands of transactions.”
Dibbs has “raised more than $15 million in venture capital from a variety of notable investors, ranging from Amazon, Foundry Group, and Tusk Venture Partners to athletes including Chris Paul, Channing Frye, Skylar Diggins-Smith, DeAndre Hopkins, Kevin Love and Kris Bryant.”
Based in Los Angeles, Dibbs “is available on iOS, Android, and the web.”
Socure claims to be “the leading platform for digital identity verification and trust. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from name, email, phone, address, IP, DOB, SSN, device, velocity, behavioral, physical documents and the broader internet to verify identities in real time, no matter how the identity is presented.”
The company has over 1,000 customers “across the financial services, government, gaming, healthcare, telecom, and e-commerce industries, including four of the top five banks, seven of the top 10 card issuers, three of the top MSBs, the top payroll provider, the top credit bureau, the top online gaming operator, the top Buy Now, Pay Later (BNPL) providers, and over 250 of the largest fintechs.”
Marquee customers “include Chime, SoFi, Varo, Public, Stash, and DraftKings.:
Socure customers have “become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, Voyager, and Synchrony.”
Additional investors “include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures, and others.”