Versium Launches New Consumer Identity Risk Score Leveraging the Company’s Extensive LifeData® Platform and Predictive Scoring Technology.
Versium’s ID Risk Score measures the risk of becoming a victim of Identity Theft or Fraud and includes reasons for different risk levels such as discovery of compromised credentials.
REDMOND, Wash. – October 1, 2014- –Versium, a data technology company and leading provider of predictive analytics solutions today, announced it’s latest Predictive Score, the company’s new Consumer ID Risk Score. In a time when each week we learn of yet another significant data security breach, it’s becoming critical for consumers to understand their risk of identity theft and how to address this concern. Developed as an extension of the company’s Account Fraud Risk Score, Versium’s new Consumer ID Risk Score incorporates hundreds of LifeData® predictive signals to determine identity theft risk level. The solution is designed to complement existing identity protection and monitoring services by scoring a consumer’s identity theft risk level. If a consumer sees they have a high ID Risk Score, potentially due to the discovery of compromised credentials or a large data breach in the area, they might consider taking actions to address this risk such as:
- Change user names and passwords
- More closely monitor their credit alerts
- Lock down credit by canceling unused credit cards or getting new ones
- Install the latest security patches and anti virus software onto their computers
- Be more on the lookout for fraudulent offers or phishing scams
“In today’s digitally connected world, consumers want to ensure their identity is secure and safe. When it comes to identity protection and monitoring, we strive to deploy innovative solutions that help consumers monitor and protect their identity. The first step is to understand the level of risk of becoming a victim of these crimes. Versium’s Consumer ID Risk Score has proven to be more predictive than alternative approaches,” said Drew Smith, CEO of InfoArmor. “Incorporating this Score into our Privacy Armor and SNAPD Identity Monitoring products allows customers to immediately understand the risk of their identity being stolen and the drivers of the risk level.”
“We have been helping organizations get in front of fraudulent activity with our Account Fraud Score. Now we can help consumers as well with our new ID Risk Score,” said Chris Matty, Versium CEO. “We continue to look for ways to apply machine learning and predictive analytics technologies to our powerful LifeData® platform to bring innovative solutions to the market. As with all of our Predictive Scores, our ID Theft Risk Score incorporates a consumer’s unique LifeData® or living history data points. This data is then analyzed for correlation to high-risk behavior and a score is generated that measures identity theft risk level.”
By integrating Versium’s ID Risk Score into the Privacy Armor and SNAPD Identity Monitoring service, consumers can now immediately understand the risk of their identity being stolen. Additionally, Versium will provide to InfoArmor flags as to why the consumers Identity Theft Risk score is what it is, so that this risk can be better understood, and consumers can determine the best path of action.
Versium (www.versium.com) is a data technology company that operates the LifeData® predictive analytics scoring service. Versium delivers predictive scores that are built from the company’s proprietary LifeData® platform which contains over half a trillion data attributes sourced from publicly observable and commercially available means. When matched to an enterprise’s CRM, marketing, or other internal data elements, easy to understand scores are generated that deliver specific ROI value. For more information, please visit www.versium.com or follow us on Twitter @versiumsocial.
InfoArmor works with companies throughout the nation to provide identity protection and privacy management solutions to their employees, members and customers. The company’s innovative and user-friendly services help employers and partners offer a valuable benefit, enhance their brand, improve loyalty and generate revenue, while providing stakeholders enhanced security and peace of mind. InfoArmor was established in Scottsdale, Ariz., in 2007. For more information, visit infoarmor.com.