- Deal Overview: Socure, a US digital identity verification and fraud prevention platform, will acquire San Francisco-based risk decisioning start-up Effectiv for $136 million.
- Expected Integration: The deal, expected to close next month, will integrate Effectiv’s AI-powered orchestration and decisioning platform with Socure’s digital ID technology.
- Enhanced Offerings: This acquisition enables Socure to expand its offerings to include real-time payments fraud detection and anti-money laundering (AML) transaction monitoring.
- Rule Management: Socure will use Effectiv’s platform to create and manage complex combinatorial rules for its solutions and those from third parties.
- Team Transfer: Effectiv’s entire team, founded by former Simility employees Ravi Sandepudi, Ritesh Arora, Jonathan Doering, and Anupam Tarsauliya, will join Socure.
- Existing Partnership: Effectiv already serves as a fraud and identity partner for Socure, laying a foundation for rapid integration and expanded midmarket services within 45 days.
Socure inks $136m deal to acquire AI-powered risk decisioning platform Effectiv
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