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Does Red Flag compliance help my bottom line?

Question: 
Does Red Flag compliance help my bottom line?
Answer: 

Possibly. Adding more identity theft protection to the line-up of offerings will only increase value in the eyes of the customer, however, unless it is communicated properly and part of an overall strategy, it may not translate into more money for the financial institution. Also, a recent Unisys survey confirms 50 percent of households would switch their bank for better identity protection. Total Red Flag compliance will reduce a bank's overall liability, protect their reputation and when implemented correctly increase non-interest income.

Secure Identity Systems is the only company in the U.S. that offers the end-to-end solution for Red Flag compliance including: Initial Risk Assessment, Policies and Procedures Manual, New Account Authentication, Change of Address Verification, Identity Theft Protection with fully managed recovery, On-site Staff Training, and an Anti-Phishing Program with site take-downs. For more information, visit us online at www.secureidentitysystems.com, or contact us by phone: (615) 377-7661 or e-mail: bansley@secureidentitysystems.com.

Secure Identity Systems was initially created to mitigate the risk for financial institutions by identifying growing security threats. Today, SIS serves financial institutions, businesses and families with the most robust products and services available. For more information on Secure Identity Systems, please call 877.304.3349 or visit SecureIdentitySystems.com. Follow Secure Identity System on Facebook and Twitter for security updates and special offers.

First published on 09/08/2008

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