Socure, a leading provider of digital identity verification and fraud solutions, has signed an agreement with the Florida Department of Economic Opportunity (DEO) to address cyber issues related its latest pilot program.
The New York-based digital identity and biometrics firm announced in a press release that it will work with DEO to provide digital identity verification and fraud solutions for the state of Florida’s Homeowners Assistance Fund (HAF) program. The federal program is designed to mitigate financial hardships associated with the COVID-19 pandemic by preventing homeowners’ mortgage delinquencies, defaults, foreclosures, and displacements, as well as loss of utilities, home energy services, and insurance. Financial assistance will be provided based on the needs of homeowners in Florida.
“Socure has signed an agreement with the Florida Department of Economic Opportunity (DEO) to provide digital identity verification and fraud solutions specifically for the state of Florida’s Homeowners Assistance Fund program,” said Matt Thompson, senior vice president and general manager of Public Sector Solutions. “Florida’s Homeowner Assistance Fund (HAF) provides assistance to homeowners for mortgage delinquencies, defaults, foreclosures, and displacements, as well as loss of utilities, home energy services, and insurance.”
In particular, the company highlights the accuracy of its identity verification technology which will expedite auto-approval rates of up to 98 percent for “mainstream demographics” and up to 94 percent for hard-to-identify populations like Gen Z, Millennials, credit invisible, thin-file, and new-to-country. Additionally, Socure stresses meeting NIST IAL2 standards for government agencies that implement high assurance digital identity services.
It was originally reported that Socure had a larger role within DEO, but the company issued the following correction regarding the announcement.
“The previous press release issued by Socure inadvertently indicated that there were additional partnerships with DEO beyond the HAF program, which is not accurate and we apologize for any miscommunication. We look forward to working with DEO and the state of Florida on this important HAF program to help Florida homeowners in need,” Thompson added.