Deluxe ProventSM to Deliver Protection to Consumers, New Revenue to Institutions and Lower Risk for All EZShield Poll Reveals That Americans Need to Increase Vigilance about ID Theft, While They Overestimate Impact of Social Networks on Productivity
PALO ALTO, CA – February 16, 2010 – EZShield, Inc., a leading provider of identity theft protection and restoration services, today announced that it has teamed up with Deluxe Corporation (NYSE:DLX), a business partner to nearly 6,40 financial institution clients across North America, to deliver EZShield services to Deluxe customers in the financial services industry. EZShield will offer a comprehensive suite of identity protection services to financial institutions under the Deluxe Provent name.
Deluxe Provent will allow financial institutions to offer state-of-the-art identity protection and restoration to their customers. For a nominal cost per customer – paid either by the customer or the institution – the institution and the customer will lower their respective risk profiles and potential for loss.
With over $50 billion in consumer losses annually (Source: FBI), and over 11 million victims in 2009 (Source: Javelin Group, 2010), identity theft is a major issue impacting consumers and the financial institutions serving them. Both groups lose substantial time, money and productivity to this crime. Consumers are taking action by buying protection in bits and pieces – through credit-monitoring, for example – but a comprehensive protection and restoration solution like EZShield’s provides the most value and peace of mind. Consumers are looking to their financial institutions to protect them with high value, low cost choices – and this is where Deluxe Provent meets a growing market need.
“Partnering with a trusted and recognized partner like Deluxe greatly expands our market footprint and leverages our experience in working with financial institutions,” said John Herr, CEO, EZShield. “Deluxe Provent’s comprehensive suite of solutions is a win-win for financial institutions and consumers, and we anticipate significant demand.”
Deluxe Provent’s key features are packaged and sold according to financial institution and consumer preferences. Such features include proactive protection and restoration solutions as well as a secure online location to store copies of key documents. Via EZShield’s restoration service, Deluxe Provent provides a uniquely complete service to consumers, with just one number to call for any identity theft problems they experience. Without assistance from an expert, an identity theft victim will spend, on average, 330 hours – or the equivalent of eight work weeks – to restore his or her identity, according to the non-profit Identity Theft Resource Center.
For financial institutions, the joint offering also includes FraudTrac, a powerful case management tool that can help financial institutions comply with red flag reporting requirements. Through Deluxe Provent, financial institutions can also take advantage of a data breach risk assessment tool to identify risks and gaps in red flag compliance and to assist in the development of policies and procedures.
EZShield pioneered identity theft protection nearly a decade ago and today uses its experience and expertise to anticipate all forms of identity-related fraud, providing affordable and simple products and services that help shield your complete identity, on all fronts, all the time. EZShield provides protection services that extend well beyond credit monitoring to address the entire spectrum of identity fraud sources including online hacking, mail fraud, credit cards, checks, public records, memberships and several others.
About Deluxe Corporation
Deluxe Corporation is a growth engine for small businesses and financial institutions. Through its industry-leading businesses and brands, the Company helps small businesses and financial institutions attract and retain customers. The Company employs a multi-channel strategy to provide a suite of lifecycle driven solutions to its customers. In addition to its personalized printed products, the Company offers a growing suite of business services, including logo design, payroll, web design and hosting, business networking and other web-based services to help small business grow. In the financial services industry, Deluxe sells check programs and fraud prevention, customer loyalty and retention programs to help banks build lasting relationships and grow core deposits. The Company also sells personalized checks, accessories and other services directly to consumers. For more information about Deluxe, visit www.deluxe.com.