This past week MyBankTracker.com participated in Finovate Spring 2011 in San Fransisco, a two-day conference series featuring new technologies and identifying trends in the financial world. We will introduce you to some brand new products, as well as present innovations and updates to previous products.
As technologies become more advanced and we pour more of our lives into our phones and computers, hackers and identity thieves have even more to feast on, which makes advances in security more crucial than ever before. Security comes in many forms, and ID Analytics, Hoyos and TrustedID all created different products and platforms to help consumers ensure their privacy.
Some of the largest U.S. companies and critical government agencies use ID Analytics to make risk-based decisions to enhance revenue, reduce fraud and protect consumers. By utilizing proprietary data from the ID Network, they are able to identify customers’ risk and creditworthiness.
My ID Alerts is a new service they have introduced which stops identity fraud before it starts. It provides users with real-time mobile ID Alerts as soon as someone attempts to use your personal information.
The problem that ID Analytics had to tackle was that it takes mere seconds for someone to steal your identity and abuse your good name, but usually a lot longer than that for you to be notified, and even more time to repair the damage. An assigned, industry-standard ID score will assess your risk of identity fraud, and the Not Me Notification System allows you to respond within seconds of someone attempting to steal your identity stopping fraud before it even begins. The service costs $4.95 per month.
In a very futuristic innovation, Hoyos corporation has developed the EyeLock, the first and only personal mobile identification product to use an iris scanner instead of a password. Just like a flash drive, EyeLock simply connects to a computer and then scans the user’s iris, potentially becoming the first device to bring such high-level biometrics technology to the masses.
EyeLock works by scanning the iris and identifying about 2,000 unique points to determine whose eye it is. When it confirms, it generates a unique string of numbers for each log-in, eliminating the password altogether. After first installing some software and establishing the sites they want to be EyeLock protected, users simply hold the $99 wand-like device up to the eye and the scanning begins.
TrustedID, the makers of top industry security product IDEssentials, provides consumers with identity protection services which safeguard customers’ credit and identity with over a dozen advanced security checkpoints.
Now comes IDSafe, the first product designed to give consumers a way to reduce the risk of identity for free. It delivers a strong, core level of protection including privacy monitoring, credit scores, $50,000 limited service warranty and more.
“With no subscription time limit or purchase requirement, IDSafe provides the absolute best value for core protections that everyone should have in place,” said Scott Mitic, CEO and founder of TrustedID. “And, should you ever decide to deepen or broaden your protection, IDSafe customers will have easy access to an array of additional protections from TrustedID’s award-winning premium services to add comprehensive credit monitoring, online credit reports and more.”
TrustedID’s advanced Identity Restoration Assistance is included in case your identity is compromised as well as a unique Fraud Alert Reminder service which enables you to place and monitor ongoing fraud alerts on your credit record to help protect you from the most dangerous forms of identity theft.
Check Out: Cyber Criminals: Ravaging America One Dinner Date (or, Fake Bin Laden Image) at a Time