TrustedID(R) Introduces New Identity Threat Score(TM), the First Consumer-Facing Predictive Identity Rating

2008-11-11 16:16:01 -

- Atomic PR Marco Torresi, 415-402-0230 marco@atomicpr.com TrustedID, the leading provider of identity theft prevention solutions, today announced TrustedID's Identity Threat Score, the first predictive identity rating for consumers. The Identity Threat Score allows people to understand, via a numerical score, their individual risk profiles for identity theft, and to determine immediate next steps that should be taken for prevention.

TrustedID's Identity Threat Score is based on a predictive scoring model called IdentityScan(TM), which uses scientifically-based analytics to look deep into billions of pieces of information available from hundreds of sources, including public records, credit reports, the Internet and other proprietary databases. TrustedID's predictive scoring model is tested and validated by identifying patterns and combinations of information quantitatively proven to increase a consumer's risk of identity theft. With early identification of risk, TrustedID's IDFreeze(R) service can be even more effective in helping to stop identity theft before it happens.

"During times of economic uncertainty, people have more reason than ever to be concerned about their identities, but up until now, most technology has been developed to protect the enterprise only," says Scott Mitic, CEO of TrustedID. "TrustedID's Identity Threat Score was developed to protect consumers by offering them an unprecedented degree of insight into their own risk profiles. This further empowers our customers to take a proactive approach to identity theft prevention, rather than simply monitoring what has already occurred."

TrustedID's IdentityScan Predictive Analytics

TrustedID's Identity Threat Score is based on a groundbreaking technology called IdentityScan, which analyzes a vast pool of data to discern specific patterns that are likely to make someone vulnerable to identity theft. IdentityScan empowers consumers with access to the type of sophisticated technology that is currently used by major credit card providers around the globe. IdentityScan's unique, patent-pending capabilities include:

Accurate Predictions

IdentityScan's machine-learning models balance dozens of variables for highly accurate predictions of identity theft. The system is designed to identify key combinations of data that indicate increased risk of identity theft and limit the number of false positive alerts, which lead to unnecessary concern on the part of consumers.

Continuous Validation

Direct, real-time communication with customers hones the accuracy of IdentityScan's scoring models, factually identifying real cases of fraud or identity theft and the patterns of data that lead up to them. IdentityScan uses a combination of adaptive rules-based and data-driven predictive models designed to improve its ability to identify risk over time. This allows TrustedID to quickly update scoring models to stay current with changes in the ways that identity theft is perpetrated.

Custom Profiles

IdentityScan allows customers to set their own profiles of behaviors and identity footprints, helping to enhance the analytic accuracy of scoring models.

TrustedID's efforts in these areas are part of a growing trend acknowledged by industry experts, toward consumer adoption of protection rooted in identity monitoring and identity scoring.

"Identity scoring services have the potential to be a very effective new tool for helping consumers to proactively avert identity theft," said Tom Wills, Senior Analyst Risk, Security and Fraud, Javelin Strategy and Research. "Consumers benefit because it's intuitive, easy to understand, and immediately gives them a sense of whether they're at a particularly high risk."

IdentityScan continues TrustedID's long-standing commitment to providing consumers with the most proactive and comprehensive identity protection possible. The benefits of the new IdentityScan service will be available to customers of TrustedID's IDFreeze by the end of this year, with enhanced features becoming available in early 2009.

About TrustedID

TrustedID delivers proactive identity theft protection solutions to help safeguard individuals, families, and businesses. With the industry's most comprehensive platform of identity theft prevention solutions, TrustedID provides over a dozen forms of protection. TrustedID's IDFreeze service includes access to our 24/7 On-Call Protection team and is backed by a $1,000,000 warranty. The company's latest innovation, Identity Threat Score, calculates an individual's immediate risk of falling prey to identity theft and recommends immediate steps that can be taken to prevent it. These and other aspects of TrustedID's protection are based on proprietary technology that dramatically reduces the likelihood of identity theft. TrustedID's Data Breach Solutions group serves businesses of all sizes with protection for data breaches, immediately safeguarding the identities of those directly affected.

Recognized by the Identity Theft Resource Center and financial experts including Suze Orman, TrustedID is a privately held company, with headquarters in Redwood City, California. For more information about our products and services visit our website at www.trustedid.com.

Uses Predictive Analytics to Forewarn Customers About Their
Personal Risk of Identity Theft and Suggests Preventative Steps