How the Combined Flow Cuts Friction for Consumers
Socure announced today that its RiskOS platform will now incorporate Aeropay’s payment technology, creating a unified process that verifies a user’s identity, links a bank account, and evaluates transaction risk—all through a single, two‑click experience that starts with just a phone number.
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The new process begins when a user enters a mobile number. Socure’s AI‑driven identity engine instantly cross‑references the number with public and proprietary data sources to assess the person’s legitimacy. Once the identity check passes, Aeropay’s secure API prompts the user to link a bank account, again using the same phone number as the identifier. The entire sequence requires only two taps: one to submit the phone number and another to confirm the bank connection. According to the companies, this eliminates the need for separate forms, document uploads, or manual verification steps that traditionally slow down onboarding. Early testers reported completing the whole procedure in under a minute, a speed that could boost conversion rates for e‑commerce sites, fintech apps, and gig‑economy platforms.
Will This Integration Raise the Bar for Fraud Prevention?
Both firms argue that merging identity verification with real‑time payment risk assessment creates a stronger defense against fraud. RiskOS already scores users on a range of signals, from device fingerprints to behavioral patterns. By adding Aeropay’s transaction‑level data—such as account age, balance checks, and historical payment behavior—the system can generate a more nuanced risk decision before a transaction is authorized. „We’re moving from a siloed approach, where identity and payment risk are evaluated separately, to a holistic view that catches threats earlier,” said a Socure spokesperson. This could mean fewer false declines for legitimate customers and a tighter net around fraudulent actors who try to exploit weak onboarding flows.
The partnership also promises benefits for regulators and compliance teams. A single data pipeline reduces the chance of mismatched records and simplifies audit trails, making it easier to demonstrate adherence to Know‑Your‑Customer (KYC) and Anti‑Money‑Laundering (AML) requirements. As digital payments continue to expand globally, tools that streamline both verification and payment risk are likely to become essential components of any secure checkout experience.
Frequently Asked Questions
What information is required from the user? Only a mobile phone number is needed to start the process, followed by a quick confirmation to link a bank account.
Is the user’s bank data stored by Socure? No. Bank account details are handled by Aeropay’s secure API, and Socure only receives the verification outcome and risk scores.
Can businesses customize the risk thresholds? Yes, the integrated platform allows merchants to set their own risk parameters based on the combined identity and payment data.
