IdentityForce's UltraSecure+Credit (Version 5.1)
Company: IdentityForce, Inc., Framingham, MA
Company Description: For nearly 40 years, IdentityForce, Inc. has provided best-in-class, highly scalable, award-winning identity theft, privacy, and credit protection solutions to consumers, businesses, and government agencies. A pioneer of identity protection, IdentityForce’s innovation and customer-centric approach has made the company a trusted partner for both organizations and individuals.
Nomination Category: New Product & Service Categories - Software
Nomination Sub Category: New Product or Service of the Year - Software - Identity & Access Security Solution
Nomination Title: IdentityForce's UltraSecure+Credit (Version 5.1)
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and performance to date:
For nearly 40 years IdentityForce has provided best-in-class, highly scalable, award-winning identity theft, privacy, and credit protection solutions to consumers, businesses, and government agencies. Identity theft statistics are astounding: approximately 15 million U.S. residents have their identities stolen each year with financial losses totaling upwards of $50 billion. The damage and emotional toll can be devastating and the fall-out hard to contain.
The IdentityForce product development team strives to develop quality products and enhancements that will provide their customers with identity protection capabilities necessary in today’s digitalized world. In order to meet these needs, IdentityForce introduced the UtraSecure+Credit (Version 5.1), product in 2016. It offers new features including, Two Factor Authentication, Advanced Fraud Monitoring, and Smart SSN Tracker.
UltraSecure+Credit is IdentityForce’s premier identity theft monitoring package for customers. Retailing at $19.95 a month or ($199.50 a year) members receive continuous monitoring of personal information to detect illegal trading and selling, comprehensive public records monitoring including criminal and court and sex offender records. There are also special pricing packages available for organizations that extend IdentityForce as an employer paid or voluntary benefit. Alerts give members instant notification when their personal information is being misused and the power to act before the damage is done. UltraSecure+Credit provides 24/7 fully-managed restoration services from their Certified Protection Experts and customers have access to their credit reports, scores with a monthly score tracker and credit score simulator.
RESULTS TO DATE:
In 2016, IdentityForce witnessed a 43 percent YoY growth in sales driven by both consumer membership renewals and the addition of major partnerships within High-tech, Financial Services, Telecommunications, and Government with product innovation key to its success in these industries. In fact, IdentityForce entered Q1 2017 with record revenues.
Following the introduction of microchip equipped credit cards in 2015 in the United States, which make the cards difficult to counterfeit, criminals focused on new account fraud. New account fraud occurs when a thief opens a credit card or other financial account using a victim’s name and other stolen personal information. IdentityForce answered the call for increased protection through the capabilities released in early 2016 around Advanced Fraud Monitoring, Smart SSN Tracker, and boosting member security through Two Factor Authentication. With these expanded capabilities of UltraSecure+Credit, IdentityForce witnessed exponentially increased adoption rates both with consumers and with organizations adopting Identity Theft Protection as an employee benefit.
“As we plan for our next high-growth this year, we’re excited to see our sales, marketing, services, and product teams expand exponentially. We’ll remain laser-focused on delivering the best-in-class identity protection services that our members, and the organizations we serve, rely on every day to protect what matters most,” Steven Bearak, CEO of IdentityForce.
IdentityForce earned several accolades in 2016, including recognition from analyst firm Javelin as an Identity Protection Leader, while also being named the #1 Identity Protection Services by independent review site TopTenReviews. Additionally, the company maintains an A+ rating from the Better Business Bureau.
In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service (up to 150 words).
• Advanced Fraud Monitoring: Capabilities focus on real-time, proactive alerts minimizing the damage done by identity thieves and further ensures credit score protection. TopTenReviews recognized IdentityForce’s extended security measures indicating that the company has “the best data system protection that an ID monitoring service can use for its networks.”
• Smart SSN Tracker (SSN): Offers secure social security number tracking that intelligently alerts members if there’s an unfamiliar name, alias, or address associated with their SSN, which could be an indication of fraud. This capability greatly reduces the time, money, and emotional stress associated with stolen SSN.
• Two Factor Authentication: Instead of the usual a Login involving only a User ID and Password, IdentityForce Members receive a second form of authentication — a verification code — delivered by email, text, or phone. Two-step verification creates an extra layer of security that forces identity thieves to do more than just crack a password.