Digital Identity: Socure Makes Progress Toward Helping Governments Deliver Inclusive ID Verification

Socure, the provider of digital identity verification and fraud solutions, announced today that its Socure ID+ platform has been added to the State Risk and Authorization Management Program’s (StateRAMP) Progressing Product List after illustrating the core regulatory and industry-defined requirements for StateRAMP compliance.

Socure is now one step closer “to achieving authorization status for StateRAMP, a certification program for service providers to verify their compliance with NIST 800-53 standards.”

The certification “helps state and local governments manage third-party risk and efficiently verify cloud security.”

Matt Thompson, senior vice president and general manager of public sector solutions at Socure, said:

“Secure digital identity is critical to making government services accessible online while preventing fraud. Our pursuit of StateRAMP authorization is a reflection of Socure’s commitment to delivering secure, accurate, and inclusive identity verification solutions in support of the vital missions of state and local government agencies.”

Founded in 2020, StateRAMP provides “a standardized approach to cloud security verification and helps state and local governments manage cyber risk while protecting critical data, systems, and infrastructure from cyber-attacks and ransomware.”

The organization “uses independent audits and continuous monitoring to ensure providers remain in compliance.”

Only 50 solutions “are on the Authorized Product List for StateRAMP, and Socure is one of only 43 that are in the ‘Progressing’ category on their way to full authorization.”

Socure is the first identity verification and fraud prevention provider “to be featured on the StateRAMP Progressing Product List. A full list of Authorized Products is available online.”

As noted in the update, Socure claims it is “the leading platform for digital identity verification and trust.”

Its predictive analytics platform “applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from physical government-issued documents as well as email, phone, address, IP, device, velocity, date of birth, SSN, and the broader internet to verify identities in real-time.”

The company says it “has more than 1,700 customers across the financial services, government, gaming, healthcare, telecom, and e-commerce industries, including four of the top five banks, 13 of the top 15 card issuers, the top three MSBs, the top payroll provider, the top credit bureau, the top online gaming operator, the top Buy Now, Pay Later (BNPL) providers, and over 400 of the largest fintech.”

Customers reportedly “include Chime, SoFi, Robinhood, Gusto, Public, Poshmark, Stash, DraftKings, the State of California, and Florida’s Homeowner Assistance Fund. Socure customers have become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, and Synchrony.”

Additional investors “include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures, and others.”

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