Debix Identity Protection Network
Debix Inc. was established in 2004 and is a privately held company that is based in Austin, Texas. The company was first financed by Facebook’s chief financial officer, Gideon Yu and former vice chairman of Merrill Lynch, Launny Steffens. Since that time, the company has received funding from two venture firms, Merus Capital (based in Palo Alto, CA) and Trellis Partners (Austin TX) in the amount of $9.3 million.
Debix became widely recognized when it was contracted by the State of Ohio to protect taxpayer and worker identities following a major data breach. As a younger company, this was a major advantage since it illustrated a level of trust at the state government level in comparison with its competitors. This situation provided Debix with instant credibility.
Since then, Debix has achieved more successes by signing up voters in the City of Nashville and Connecticut State residents after subsequent data breaches in those locations. This has led Debix to be the company of choice for states, private and public companies and hospitals that have experienced large data breaches.
Debix Fraud Protection Technology
Debix utilizes the technique of monitoring the credit files of the three credit bureaus in order to protect its customers. Their exclusive “OnCall” Credit monitoring system is then used to notify customers by phone when a new account is opened.
In circumstances involving other credit monitoring services, an email would be sent in order to notify a customer of credit file changes. In many cases, duplicate emails and various unnecessary information is received by the customers. This can become repetitive and frustrating for the customers. This situation will not occur with the Debix system. Rather than receive emails that can be ignored, a Debix customer will receive a call.
It works through a process that begins with Debix placing a customer’s phone number in their credit file. When a change has occurred in that customer’s credit report, a call will then be routed automatically to up to three provided phone numbers. The calls are authenticated by providing a recording of the customer’s own voice (known as a voice key). The voice key is recorded at the time of sign up. Once the voice is recognized, the customer just presses the number 1 on their phone to continue with approving the change to the report.
If the change is unauthorized, the customer will press the “star” key on their phone. This indicates possible fraud and will also put the customer in touch with a Debix Investigator. The Debix OnCall Investigator is licensed in the State of Texas as a private investigator and will assist with notification of the proper authorities. The investigator will continue to work with the customer to stop any identity fraud.
The Debix system will also provide an audit trail should a dispute arise. This can come in handy should a business claim that a loan was approved when the Debix system says otherwise. The Debix system can also, in some cases, indicate how the customer’s personal information became compromised in the first place. This can assist in preventing another occurrence. Law enforcement will become involved, if necessary. Once the Debix system has detected and stopped the identity fraud, their Restoration Specialists will work with the victim in order to repair and restore their identity to its normal state.
Debix Pricing and identity Theft insurance
Pricing for Debix is straightforward and runs at a monthly rate of $9.95 for adults and $2.50 for children (under 18 years old).
Debix also carries an identity theft insurance guarantee through Lloyd’s insurance in the amount of $1,000,000. This insurance is designed to cover expenses associated with identity theft occurrences such as lost wages and legal defense.
Debix Customer Support can be reached during their normal hours of operation for phone support, which are Monday – Saturday, 9am – 5pm Central at 888-DEBIXME (1-888-332-4963).