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

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Socure is the leading platform for digital identity trust. 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 500 customers across the financial services, gaming, telecom, and e-commerce industries, including three 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, and over 100 of the largest and most successful FinTechs. Marquee customers include Chime, Varo Money, Public, Stash, and DraftKings. Investors include Accel, Commerce Ventures, Scale Venture Partners, Flint Capital, Capital One Ventures, Citi Ventures, Wells Fargo Strategic Capital, Synchrony, Sorenson, Two Sigma Ventures, and others.

Socure has received numerous industry awards and accolades, including being named to Forbes America’s Best Startup Employers 2021, being awarded Best New Technology Introduced over the Last 12 Months – Data and Data Services at the 2020 American Financial Technology Awards (AFTAs), being ranked number 70 in Deloitte’s Technology Fast 500™, being listed as a Gartner Cool Vendor, being recognized by Forbes as one of the Top 25 Machine Learning Startups to Watch, being named to CB Insights: The FinTech 250, and being awarded Finovate’s Award for Best Use of AI/ML, to name a few.

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Janine Savarese
Savarese Communications
(908) 461-5767
jsavlowe@savcopr.com