Secure Identity Systems today announced it has been signed as the ID theft prevention service of choice for Wyoming Bank & Trust, a locally owned bank serving Laramie County, Wyoming. Effective immediately, Wyoming Bank & Trust will provide Secure Identity Systems’ recovery and education services free of charge to customers holding personal checking accounts, with the option to upgrade to the complete version at a discounted rate. Secure Identity Systems will also provide its total identity theft protection program to bank employees as part of a competitive benefits package. With this program, Wyoming Bank & Trust can continuously monitor for and detect potential ID theft, as well as ensure employees full recovery in the event of a breach.
“At Wyoming Bank and Trust we are committed to providing our customers with the best personalized banking services available, and incorporating Secure Identity Systems’ total ID theft protection services into our offering does just that,” says Jeff Wallace, President at Wyoming Bank & Trust. “No other vendor in this space offers the level of total ID monitoring, fully managed recovery, and education that Secure Identity Systems provides. By adding this layer of protection we are taking a proactive step in addressing the problem of identity theft and ensuring that all our employees and valued customers are safeguarded against its devastating effects.”
Wyoming Bank & Trust employees will receive the full Secure Identity Systems Plus program as part of their compensation and benefits package. Personal checking account holders with the bank automatically obtain recovery assistance and access to educational seminars when they sign up, and have the choice to subscribe to the complete service at any time. Secure Identity Systems’ four-pronged solution includes:
1. Total identity monitoring. Basic credit monitoring finds only 34 percent of identity breaches. To flag the other 66 percent, Secure Identity Systems tracks hundreds of databases that use Social Security numbers, including utilities, DMV records, medical records, and financial institution records. When a potential breach is detected, Secure Identity Systems contacts the victim directly to ensure privacy.
2. Fully managed breach recovery. Secure Identity Systems manages the entire recovery process, from the first breach to the final resolution, by providing a professional recovery advocate who, through limited power of attorney, works on victims’ behalf to restore their identity. The recovery advocate, not the member, handles the recovery process from beginning to end, including all research, phone calls, letter writing, documentation, and follow-through. Recovery is expedited, while victims’ stress is greatly reduced because they know the process is being professionally managed.
3. Expense reimbursement insurance. High, out-of-pocket expenses and time off from work can cost victims up to $16,000 in lost income on average, according to the Identity Theft Resource Center. Secure Identity Systems reimburses identity theft victims–at a zero deductible–for expenses they incur up to $20,000 during recovery efforts. In fact, it’s the only identity theft protection service to cover all financial losses associated with the recovery process, including legal expenses, lost wages, loan application fees, telephone bills, mailing and postage, notarization fees, credit reports, and so on.
4. Ongoing education. Secure Identity Systems puts boots on the ground with the industry’s only on-site field staff that helps financial institutions and individuals implement their systems. This high-touch approach encompasses on-site employee training, member programs, and customized community seminars that fulfill Community Reinvestment Act requirements, while teaching participants how to get the most out of their ID protection benefit.
“With over nine million people falling victim to identity theft and fraud each year, credit card, data and identity theft has quickly become one of the biggest problems facing consumers and financial institutions today, and even more troublesome when it’s not detected early on,” says Bryan Ansley, CEO of Secure Identity Systems. “Wyoming Bank & Trust is doing a great service to its customers and employees by empowering them with a total identity theft protection program that will deliver greater security and peace of mind, and keep their good names safe.”