Sontiq® Acquires Fintech Provider Breach Clarity
Sontiq Adds Nationally Known Fraud, Banking and AI Experts to Lead Company’s Data Breach and Financial Fraud Protection Initiatives
BOSTON–(BUSINESS WIRE)–#BreachIQ—Sontiq, the leader in Intelligent Identity Security (IIS), today announced it has acquired award-winning data breach intelligence fintech Breach Clarity. As a result of the acquisition, Sontiq’s products – IdentityForce, Cyberscout, and EZShield – all built on its tech-enabled IIS Platform, will have the proprietary capability, BreachIQ™. Sontiq is the first provider in the identity security marketplace to offer consumers an AI-driven and proprietary personalized risk score with actionable next-steps based on their unique data breach history.
BreachIQ is powered by a patented, AI-driven algorithm developed by Breach Clarity Co-founder Jim Van Dyke, one of the country’s foremost data breach experts. Van Dyke is also the founder of Javelin Strategy & Research, serves as a board member of the Identity Theft Resource Center, and is a former board member of the U.S. Consumer Financial Protection Bureau (CFPB). Van Dyke will join Sontiq as SVP, Digital Financial Wellness. Breach Clarity Co-founder, Al Pascual, is a recognized expert in financial crime and former head of fraud and security for Javelin Strategy & Research. Pascual will join Sontiq as SVP, Data Breach Solutions. The rest of Breach Clarity’s team is also joining Sontiq.
BreachIQ analyzes more than 1,300 data points to curate a breach score based on the severity and risks of a publicly reported data breach. From a personalized perspective, BreachIQ combines the potential impact from multiple breaches involving an individual’s personal information. Then, it calculates the steps the individual has taken to mitigate additional breach exposure. From there, BreachIQ produces a proprietary, highly personalized risk score that is further updated with each breach incident. As BreachIQ becomes available to millions of Sontiq users, its universe of data and trend information will be broadened and yield a richer data set with more robust insights.
“Consumers’ sensitive personal information is exposed daily, and it is increasingly difficult for them to monitor who has their data and where it’s being leaked,” said Van Dyke. “With the integration of our artificial intelligence algorithm and risk expertise, Sontiq will provide clarity to millions of consumers around their individualized risk profile and the protective actions steps likely to have the greatest impact. In combination with personalized advice and recovery with Sontiq’s white-glove resolution experts, consumers have never been in better hands. We are excited to work with Sontiq’s team to deliver additional, innovative solutions in the coming months.”
“It is becoming clear that consumers and the organizations that serve them desperately need clearer, more detailed information about the impact of data breaches to better safeguard their identities,” said Sontiq President & CEO Brian Longe. “Consider our physical health; we wouldn’t accept generic health advice from a doctor. The same expectation for personalized protection must go for our digital health. BreachIQ provides the kind of analysis individuals aren’t getting anywhere else, and have gone without for too long.”
The acquisition of Breach Clarity marks an active first quarter for Sontiq. Since the first of the year, the company has revealed its acquisition of Cyberscout, the leader of cyber products and services to the insurance market, launched its next-generation IIS platform and announced a patent-pending online reputation management capability, RepIQ™.
BreachIQ is in market today for select Sontiq clients. A wider roll out will happen in Q2 of 2021.
Sontiq (pronounced Son-tick) is an Intelligent Identity Security company arming businesses and consumers with award-winning products and services built to protect what matters most. Sontiq’s brands, IdentityForce, Cyberscout and EZShield, provide a full range of identity and cyber monitoring solutions, best-in-class restoration, and response products and services. Sontiq’s products are used by an ever-growing community and empower millions of customers and organizations to be less vulnerable to the financial and emotional consequences of identity theft and cybercrimes. Sontiq and its brands have an outstanding track record for delivering high-touch support and fraud remediation services, demonstrated through its 99% customer satisfaction ratings. Sontiq is a portfolio company of the Wicks Group. Learn more at www.sontiq.com or engage with us on Twitter, Facebook, LinkedIn or YouTube.