Steady Achieves SOC 2 Type 2 Certification

Pioneering income verification solution earns recognition for compliance with industry-leading security and privacy standards

ATLANTA, June 7, 2023 /PRNewswire/ -- Steady, which works with federal and state governments, lenders, and other organizations to streamline income verification for the non-standard workforce, today announced that it has been certified for the System and Organization Controls 2 (SOC 2 Type 2) standard. This certification reinforces Steady's commitment to the highest levels of security for both its 6 million users and the enterprise and government partners who use Steady's technology to improve benefits distribution and reduce fraud.

"Our focus is on serving the massive 1099, gig, and non-standard worker population who struggles to access needed public benefits like Medicaid and SNAP, in addition to critical wealth-building credit products like mortgages and income-enabling products such as auto loans,"said Adam Roseman, Co-Founder and President of Steady. "Supporting millions of workers who are so often locked out of opportunity requires a relentless focus on privacy and security. We're honored to achieve this certification, which reflects the commitment to data privacy that has long been a hallmark of Steady's work and culture."

A widely used auditing standard created by the American Institute of Certified Public Accountants (AICPA), SOC 2 was created to evaluate companies' management of consumer data according to a series of criteria, including security, availability, processing integrity, confidentiality, and privacy. In securing SOC 2 Type 2 compliance, Steady has been independently recognized for its work to ensure the secure processing and storage of customer data, in accordance with rigorous global security and confidentiality standards for technology companies.

Steady launched in 2017 with the goal of harnessing the potential of emerging technology to alleviate poverty. In the wake of the pandemic, several state governments partnered with Steady to create workflow solutions to support administration of unemployment insurance and other safety net benefits for non-standard workers, including SNAP and Medicaid. The company is also the leading administrator and impact data provider for cash assistance grants in partnership with cities nationwide including Baltimore, San Diego, Tacoma, Gainesville and more.

Steady's SOC 2 Type 2 audit was performed by Armanino LLP.

About Steady
Steady is the leading source of insight into the 1099, gig and contingent workers that now make up more than one-third of the U.S. workforce. Our user-permissioned Verification of Income (VOI) solution is used by governments to expedite the claim process— and reduce fraud. We help lenders to grow their addressable market and promote greater financial inclusivity. In partnership with cities and counties nationwide, we not only support and streamline the distribution of innovative cash grant programs — but also quantify their impact, from intervention to outcome. Co-founded by Shaquille O'Neal, Steady draws upon more than $1.5 billion of enriched financial transactions and $140 billion deposits from 6 million workers who use Steady to track and boost their earnings everyday.

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SOURCE Steady