Dibbs Transforms Collector Onboarding Experience with Socure’s Industry-Leading Identity Verification and “Know Your Customer” Platform

By Business Wire On Apr 6, 2022

Integration Will Drastically Reduce New User Approval Time from Days to Milliseconds and Increase Deposit Conversion Rates by at Least 20%

Socure, the leading provider of digital identity verification and fraud solutions, 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 industry-leading, 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.

“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,” said Evan Vandenberg, co-founder and CEO of Dibbs. “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.”

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 industry-leading 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.

“A data-driven approach to identity verification and fraud prevention is critical to the growth of marketplaces like Dibbs,” said Johnny Ayers, founder and CEO of Socure. “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.”