Javelin Strategy & Research’s 2024 Identity Protection Services Provider Scorecard Names Equifax Best in Class
30 Abril 2024 - 9:10AM
Today, Javelin Strategy & Research, an Escalent company,
released its 2024 Identity Protection Services Provider Scorecard.
This comprehensive evaluation assesses 16 prominent identity
protection services (IDPS) providers and serves as a valuable
resource for vendors, financial institutions, and industry
stakeholders, providing insights into the strengths and weaknesses
in existing identity protection services and tools.
Javelin has uncovered vast opportunities for growth and
improvement across the IDPS industry, specifically related to IDPS
providers’ ability to provide services consumers cannot readily
access or find elsewhere. These opportunities fall within the
realms of stronger identity verification that relies on biometrics
and behaviors, as well as more services surrounding identity theft
protection support for children and families.
“IDPS providers have significant growth opportunities in
refining their focus on specialized identity protection services,"
said Tracy Kitten, Director of Fraud & Security at Javelin
Strategy & Research. "By offering unique, value-added services
and prioritizing clarity and consistency, they can bolster consumer
trust and unlock new avenues for success in this evolving
market.”
Among other key findings, Javelin highlights the need for
greater industry standardization and a clearer mission and strategy
for market share among IDPS providers. The scorecard reveals that
vendors must focus more attention on building trust among
consumers, by migrating away from direct-to-consumer sales and
leaning more heavily on a white-label business model that provides
IDPS to consumers via financial services providers, financial
institutions in particular.
Equifax, renowned for its ID Watchdog Premium + Family service,
emerges as the Best in Class IDPS provider in the 2024 scorecard.
Equifax's focus on prevention, education, and empowering consumers
to protect their identities, coupled with detection, monitoring,
and alerting services to notify consumers of suspicious activity,
and robust resolution support through call centers, chat, and
identity fraud insurance coverage, propelled Equifax to the
forefront. Allstate and TransUnion also stood out as Leaders in
this arena.
To compile the scorecard, Javelin analysts rigorously assessed
each of the 16 providers across various categories, including
identity theft detection, prevention and resolution. Equifax's
overall performance underscores the importance of prioritizing
identity protection services in an increasingly competitive
market.
For more information on the 2024 Identity Protection Services
Provider Scorecard, visit javelinstrategy.com.
About Javelin Strategy & ResearchJavelin
Strategy & Research, part of the Escalent family, helps its
clients make informed decisions in a digital financial world. It
provides strategic insights to financial institutions including
banks, credit unions, brokerages and insurers, as well as payments
companies, technology providers, fintechs and government agencies.
Javelin’s independent insights result from a rigorous research
process that assesses consumers, businesses, providers, and the
transactions ecosystem. It conducts in-depth primary research
studies to pinpoint dynamic risks and opportunities in digital
banking, payments, fraud & security, lending, and wealth
management. Learn more at javelinstrategy.com.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/657dc4ed-8cfa-4827-9ed9-8a154e74bb79
Contact
Sarah Keller
734.779.6847
sarah.keller@javelinstrategy.com