'Civic' is an online platform that helps to prevent identity theft before it happens by sending push notifications to smartphone users when their social security number is used. Users will then be allowed to verify the purchases made using their social security number before they officially go through, as a way to ensure each interaction is valid.
The platform is offered free to smartphone users along with a $1 million dollar insurance plan should theft happen. The fees are charged to companies rather than the users, providing a virtually free form of protection against stolen card information. The app can be downloaded on to mobile devices so that the push notifications can be sent directly and immediately for constant scanning.
Identity Theft-Preventing Apps
'Civic' Sends a Notification When a Social Security Number Is Used
Trend Themes
1. Identity-theft Prevention - Opportunity for developing more advanced and customized identity-theft prevention apps.
2. Real-time Scanning - Opportunity for real-time scanning and notification technologies to prevent identity theft.
3. Mobile Security - Opportunity for mobile security companies to improve their services by leveraging real-time scanning technologies and offering insurance plans.
Industry Implications
1. Mobile Apps - Opportunity for mobile app developers to create and market customizable identity theft-prevention apps.
2. Financial Services - Opportunity for financial services companies to partner with identity-theft prevention apps in providing more comprehensive protection to their customers.
3. Insurance - Opportunity for insurance companies to partner or offer additional services alongside identity-theft prevention apps, such as fraud insurance and recovery support.