Best Identity Theft Protection Software For Your Business in 2021

As a business, there are many dangers that you can be exposed to now more than ever before. Particularly when operating online, threats can be present to any business regardless of their size or how long they’ve been kicking around for.

There are plenty of software options out there though that can help keep your business safe and protected from harm’s way. Although there’s no guarantee that you won’t fall victim to identity theft, the right software in place can provide that extra layer of security.

So how does identity theft protection software work? What are some of the best options out there for your business? With a growing concern for cybersecurity threats, now is the time to introduce those preventative measures in the fight against cyberattacks of all kinds.

How does identity theft protection software work?

Identity theft is a big part of the cybersecurity issues that many businesses and individuals across the globe experience. In fact, 4.8 million identity theft and fraud reports were received by the FTC in 2020. This number was up by 45% in comparison to the 3.3 million filed in 2019.

It’s clear to see just by these statistics alone that identity theft continues to be a real issue and one that could certainly affect your business if security is lacking. As many of us have an online presence, who knows if you might be next?

Identity theft protection software works by providing extra security to your most confidential and personal data. Apple’s Face ID is a piece of software that can be classed as identity theft protection because it allows only you (and your face) to access the device. The same goes for two-factor authentication, which you tend to see more for online banking.

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Then there’s the major players in online protection that provide a wealth of services and softwares, including identity theft protection. It’s these service providers that can bring effective solutions to your online security worries.

Best Identity Theft Protection Software

As a business, it’s beneficial to assess and compare what’s on the market currently to help protect your company and it’s workforce. With that being said, we’ve compiled some of the best identity theft protection software for you to trial out for your business security.

SEON

With over 5,000 trusted brands including Air France and ID Finance on their client list, SEON is a fantastic platform for your online business. Whether it’s spotting fake accounts or having a 360 viewpoint of your users, this fraud prevention service is a recommended software for any business in 2021.

The AI-driven system helps you spend more time growing as a business and less time reviewing. With transparent fraud scores available and instant device data collection when deploying SEON, you’ll start seeing results immediately without it having to slow down business operations.

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In an online world where cyberattacks are commonplace, SEON is one of the leading fraud prevention services you’ll find available on the web. With its next level automation integrations with Zapier, there are plenty of reasons to choose this software for your security needs. 

The ROI of this software is high in value and it provides transparent pricing, whether you want to try out their free trial first or head straight into their pay-as-you-go pricing. With no hidden costs or contracts necessary, you can scale your business security with peace of mind for years to come.

The cost of the software comes with all the additional support you’d need as a business to stay protected. They have a great payday loan identity theft guide worth reading too.

ID WatchDog

ID WatchDog is a recognised software that is available for both consumers and businesses alike. The platform helps to monitor for signs of potential fraud that can be sourced from billions of data points across the internet.  There are a variety of other features that help keep your data safe, which includes:

• Credit report monitoring
• High-risk transaction monitoring
• Public records monitoring
• Dark web monitoring

As an employer, it’s not only necessary to protect your own data and that of your customers, but also your employees too. ID WatchDog offers expanded family plans for those businesses who want to do more to protect their valued workforce.

Offering built-in customer care and end-to-end employer support, it’s a software that’s easy enough to roll out and start immediately providing protection where it’s needed. There are a range of individual plans for employees and packages tailored specifically to your business depending on your needs and requirements as an organization.

Aura

If you’re looking for customer satisfaction, then you can certainly tell that Aura is focused on providing the very best for all it’s customers both old and new. Aura is described as the new standard in digital security, offering a range of features including identity theft protection.

Aura understands the risks that can come from an exposed digital footprint and so it’s necessary to secure online accounts and be made aware should anything become compromised. 

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With over one million satisfied customers and trusted by many notable institutions such as Forbes and TrustPilot, Aura is a great pick for those needing expert tech without the complex onboarding.

From monitoring wire transfers to bank fraud and preventing criminal damages, the features of this software can have eyes and ears on all of your business existence on the web. In regards to pricing, Aura is an affordable option for businesses of all sizes. Choose from basic identity theft protection at $10 a month or go for something more advanced between $20-$30 a month.

IDnotify

Created by Experian, IDnotify is a theft protection service that offers credit monitoring, bank account monitoring, internet surveillance and more. As part of Experian, they help their customers to keep tabs on all the activities across the web, whether it be their identity or credit information.

With three monitoring plans from essential ($9.99), select ($17.99) and premier ($25.99), there are affordable options for all customer types. For businesses, they can ensure all areas of the business operations are monitored, including your employees. Daily and active monitoring is critical for most businesses to have in place as identity theft or fraudulent activities can happen at any given moment.

For those whose identity is stolen, the theft insurance on offer can pay out up to $1 million based on the plan you pick. A somewhat reasonable amount for many businesses to come back from if they found themselves in this position.

As Experian is a trust business already, it’s easy to see why so many utilize this software for their business or personal usage.

The advantages of using identity theft protection software

There’s no harm in giving your business’ security a boost to it’s defenses and to regularly assess its effectiveness in protecting the company. A software or service like identity theft protection in place has it’s advantages, so here’s some to consider for your business.

Offers peace of mind to you and your customers

For many customers nowadays, trust is very important. 55% of customers now trust companies less than they used to and this can be a real challenge for businesses to gain that trust. Being seen to have excellent security protocols in place is going to provide peace of mind for any customers that you acquire or that you currently have existing.

Data breaches are certainly common and so every effort must be seen to be made in order to gain your customer’s trust and loyalty.

Alerts you when your sensitive information is in the wrong hands

One of the major advantages with identity theft protection software is that it can alert you at any point when your sensitive information gets into the wrong hands. The earlier that this is noticed, the quicker these security software and systems in place, can act to help minimize the damage.

The longer the fraudulent activities go unnoticed, the more of an impact it’s likely to have on your business in both the short-term and long-term.

Protection from human error

Human error contributes to a lot of mistakes made within a business and in daily life. According to one statistic, human error is claimed to be responsible for anywhere between 70-100% of incidents.

As much as this type of software and protection can be good for protecting what’s attacking from the outside, it’s also good as a preventive measure internally too. Whilst you can trust your employees to be cautious online, it’s very easy to fall into a fraudulent trap.

Training opportunities for employees on cyber awareness

Talking of human error, it’s worthwhile using this type of software for your business because it usually comes with an opportunity for training. This can be provided to your employees in order to improve their cyber awareness on the internet.

Invest in identity theft protection software

There’s no doubt that identity theft protection software and other cybersecurity services can help protect your business, it’s workforce and your customers. If you’ve not assessed your online security recently, then now might be a good time to do so.

Author Bio: Natalie Redman (LinkedIn)

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Freelance writer for many clients across multiple industries. Natalie has two years of copywriting experience. Natalie has a wide range of experience copywriting for web pages for businesses across many industries. She’s also an owner of two blog websites and a Youtube content creator.