|
FOR IMMEDIATE
RELEASE
National ID
Recovery and Veratad Technologies
Form Strategic Partnership to Offer
NEXUS ID- The only complete FACTA
“Red Flag Rules” Identity Theft
Compliance Solution
Shared
vision for a Best of Breed FACTA Red
Flag Rules Compliance Solution.
Norcross, GA., and Teaneck NJ -
September 29, 2008- National ID
Recovery, LLC and Veratad
Technologies, LLC announced today a
strategic partnership to release
NEXUS, a product based on a shared
vision for assisting businesses and
financial institutions nationwide in
the task of meeting the November 1,
2008 deadline for FACTA “Red Flag
Rules” Compliance. By engaging the
companies at the technology,
services, marketing and business
levels, the partnership will allow
both companies to drive new growth
opportunities and has the potential
to ultimately transform how
businesses approach FACTA Compliance
by reducing the costs and possible
complexity associated with
compliance.
NEXUS ID (NEXUS-Latin: to bind, a
connected series or group) combines
the ease of use of Veratad’s
world-class ID verification and
Customized Online Compliance Tools
with the quality and affordability
of National ID Recovery’s fully
managed Identity Restoration and
Data Breach Services which together
represent the nation’s first and
only truly comprehensive turn-key
FACTA “Red Flag Rules” Solution-
NEXUS offers the advanced
technologies, products and services
of each to offer one solution that
includes an online ID Theft
Prevention Program Document
Generator, Employee Training,
Identity and Address Verification as
well as components to Detect,
Prevent and Mitigate ID Theft; which
together make it easier and more
efficient for businesses to be
compliant by the deadline.
Taking a decisive step further,
NEXUS will offer a highly
competitive pricing structure,
affording businesses of any size an
opportunity to reduce their total
cost of ownership while better
protecting the identity of their
consumers.
“National ID Recovery and Veratad
have each led fundamental
transformations within their own
respective markets. NEXUS is a
complete compliance solution that
combines our [NIDR] proprietary
Identity Recovery Solutions,
Document Replacement and Data Breach
Services with Veratad’s FACTA ID
Theft Prevention Program Document
Generator and ID Verification
technology" said Brian Logan, Vice
President of National ID Recovery.
"By coordinating our unique
strengths, NIDR and Veratad are
proud to announce the delivery of
NEXUS, the only complete, turn-key
FACTA Compliance solution. NEXUS
delivers to our customers a total
package that provides for a separate
written policy to detect, prevent
and mitigate identity theft within
all covered accounts. The
coordinated effort brings a solution
with a user experience of the
highest quality, reliability and
lowest total cost of ownership.
That's where we can make a
significant difference."
"Our country is at an inflection
point regarding identity theft and
fraud," said Pattie Dillon,
President of Veratad. "This new
compliance offering which combines
our existing ID verification and
compliance tools with NIDR’s
identity restoration expertise, will
allow us to rapidly deliver a
high-quality, highly reliable
compliance solution that will
support business and financial
institutions in doing their part to
fight identity theft. The
opportunity for our customers is a
comprehensive compliance solution
that affords an economic and
business benefit from reduced
incidents if ID theft."
Under the partnership agreement the
companies will enter into a
multi-year partnership with
provisions for its extension. In
addition, the companies have agreed
to invest substantial resources in
marketing, business development,
delivery and collaboration on future
product development where the two
will jointly offer the NEXUS
compliance solution and any
associated services.
About NEXUS
NEXUS (www.nexusIDcompliance.com)
is a combination of custom services
that provide a complete Red Flag
Compliance Solution to any industry
or entity size. NEXUS includes the
ID Theft Prevention Program
Generator, Learning Management
Solution, and “front-end” Identity
Verification from Veratad in
conjunction with NIDR’s Fully
Managed Identity Recovery, Identity
Monitoring, Document Replacement and
Data Breach Services. NEXUS provides
for a completely scalable,
auditable, customized Red Flag
Compliance Solution. For more
information contact Pattie Dillon at
Veratad at 1-201-510-6000 xt12
About National ID Recovery, LLC
National ID Recovery, LLC (NIDR) is
a Georgia Corporation, founded in
April 2004 and managed by a team of
seasoned veterans with experience in
security, information technology,
communications, sales, management
and compliance. NIDR is dedicated to
providing the most efficient,
reliable, low cost and easy-to-use
ID recovery service in the
marketplace. NIDR's automated ID
theft recovery system, backed by
highly trained paralegals, allows
NIDR to clear over 48 known types of
identity theft with a 100 percent
recovery rate. http://www.nationalidrecovery.com
.
About Veratad Technologies, LLC
Veratad Technologies, LLC (
www.Veratad.com )is a world class
provider of real-time online
Identity Verification and Knowledge
Based Authentication Solutions
designed to verify an individual’s
identity and age while maintaining a
high level of consumer privacy. In
addition, Veratad offers a unique
online Red Flag Rules Compliance
tool for the creation of an ID Theft
Prevention Document and Employee
Training designed to meet the
compliance requirements of FACTA.
At the center of Veratad's success
is a state-of-the-art privacy
processing platform which delivers
Veratad's AgeMatch/Age Verification
Solution, IDMatch/Identity
Verification solution and
IDMatch+Plus/Knowledge Based
Identity Authentication Solution.
Veratad also offers a patent pending
solution that protects sensitive
customer information while offering
merchants increased online sales by
enhancing customer confidence.
Veratad verifications can be
delivered in a matter of seconds
directly through multiple
verification platforms to commerce,
financial and government
institutions. Veratad also provides
a wide range of custom data
solutions. For more information
contact
For More Information Contact:
Pattie Dillon
President
Veratad Technologies, LLC
Englewood, New Jersey
P: 201-510-6000 ext 141
F: 201-510-6036
pdillon@veratad.com
About Veratad Technologies, LLC
Veratad Technologies, LLC (
www.Veratad.com ) is a world
class provider of real-time online
Identity Verification and Knowledge
Based Authentication Solutions
designed to verify an individuals
identity and age while maintaining a
high level of consumer privacy.
At the center of Veratad's success
is a state-of-the-art privacy
processing platform which delivers
Veratad's AgeMatch/Age
Verification Solution,
IDMatch/Identity Verification
solution and IDMatch+Plus/Knowledge
Based Identity Authentication
Solution. Veratad also offers a
patent pending solution that
protects sensitive customer
information while offering merchants
increased online sales by enhancing
customer confidence. Veratad
verifications can be delivered in a
matter of seconds directly through
multiple verification platforms to
commerce, financial and government
institutions. Veratad also
provides a wide range of custom data
solutions. For more information
contact
info@veratad.com . Forward-Looking Statements
In addition to the historical
information contained herein, this
press release contains forward
-looking statements, such as
statements regarding the Company's,
and the combined companies',
anticipated future performance,
including the ability of the
combined companies to expand
verification and e-commerce
capabilities; to increase product
offerings and the size of the
distribution channel; as well as
statements containing the words,
"believes," "intends,", and similar
words. Such forward-looking
statements involve known and unknown
risks, uncertainties and other
factors which may cause the actual
results, performance or achievements
of the Company, or industry results,
to differ materially from any future
results, performance or achievements
expressed or implied by such
forward-looking statements. Such
factors include, among others: the
Company's limited operating history
and variability of operating
results; competition in the
electronic verification and commerce
market; the ability of the combined
companies to successfully offer the
market expanded verification and
privacy tools and e-commerce
capabilities and services and the
market's acceptance of such
offerings, and other risk factors
referenced in this release. |
