Company Attests Compliance with European & Swiss Data Privacy & Security Control Framework

NEW YORK – July 17, 2015 – ​Socure, the provider of next­ generation SaaS-­based anti­-fraud and compliance solutions, formally announced today the company’s completion of the U.S.–EU and U.S.–Switzerland Safe Harbor framework self­-certification process from the U.S. Department of Commerce. This certification states Socure handles sensitive customer and client data according to European Union and Swiss privacy standards.

privacy shield framework “We understand and value the importance of keeping the data we process safe, secure, and private, and our Safe Harbor certification tells the world we can work with data from within the EU and Switzerland with confidence,” said Sunil Madhu, CEO of Socure.

The patent­ pending Socure Social Biometrics™ solution leverages online and social behavior checks in real­time, verifying the authenticity of customer identities registered on websites and mobile applications. Enterprises using Social Biometrics APIs achieve higher user acceptance rates with reduced friction, fraud losses and manual review costs. Additionally, Social Biometrics enables a quicker path to Know Your Customer Socially (KYC+S) and Anti­Money Laundering (AML) compliance.

Enacted in 1998, the Safe Harbor framework provides a bridge between the U.S. and EU states and Switzerland when transferring private data. The framework ensures users and businesses that Socure services adhere to the data privacy and security controls for those countries. More information can be found at: http://export.gov/safeharbor

“Our international customers and vendors have asked about this, and today we’re proud to say we’re officially certified,” said Ken Allen, senior vice president of operations. “This demonstrates our continued commitment to data integrity and privacy, no matter where that data is from.”

You can read the Safe Harbor policy on the Socure website at: http://www.socure.com/safeharbor.html

About Socure

Socure is the leader in real­time online identity verification solutions that protect enterprises against identity fraud, increase acceptance of valuable customers and reduce the cost of compliance and manual review. Socure was founded in 2012 and is based in NYC.  

Topics: Press Release

Socure

Socure

Socure is the leader in Day Zero 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, device, velocity, and the broader internet to verify identities in real-time. The company has more than 300 customers across the financial services, gaming, telecom, and eCommerce industries, including three of the top five US banks, eight of the top 10 card issuers, three of the top MSBs, the largest payroll service, the second-largest retailer in the world, and over 100 of the largest and most successful fintechs such as Varo Money, Public, Chime, and Stash. Socure recently received numerous industry awards and accolades including being named “Best New Technology Introduced over the Last 12 months – Data and Data Services” at the 2020 American Financial Technology Awards (AFTAs), ranked number 70 on Deloitte’s Technology Fast 500™, being named a Gartner Cool Vendor, recognized by Forbes as one of the “Top 25 Machine Learning Startups to Watch,” listed to CB Insights: The Fintech 250, and awarded Finovate’s Award for Best Use of AI/ML, to name a few. For more information visit www.socure.com.