We expose ourselves to credit card fraud, bank fraud, and identity theft almost daily. We have to; it is an online world that we live in. Whether paying a utility bill or ordering a new pair of shoes, most of us type in our information, cross our fingers, and hope for the best. We mutter a little prayer that the corporations and businesses we entrust with our data and credit card numbers are well-protected. Unfortunately, many of us have lost money, and equally adversely, many of us have had our identities hijacked and misused.
Some of us, much less trusting and more proactive, don’t leave these matters to chance. We utilize the solutions that are out there, but unfortunately, they only solve one problem at a time, like virus protection on our computers or password managers to protect our passwords. So, how do we protect all of our assets, our passwords, our account information, and our identity? How do we repair the damage that has already been done? It seems virtually impossible.
But, a new all-in-one solution that protects our credit cards, finances, and identity has emerged that can help us not only prevent but repair damage that has already been done. That solution is on the horizon–Dteckt. Dteckt is an online consumer privacy, identity, cybersecurity, and financial security platform that brings identity protection into the future.
“In the last ten years, every American has had their information stolen,” Dteckt Founder and CEO Matt DeVico shares, “So, it’s really a matter of having a tool to proactively manage and monitor their online presence to reduce that risk of financial and identity loss.” That is what Dteckt offers.
Dteckt: When Passion and Need Converge
DeVico had worked for a startup in the past and fell in love with the process, so when he noticed a market void, the creative, problem-solving part of his brain meshed with his many years of experience in finance. He went to work on what is now Dteckt. “I love building things. So, having the opportunity to build something that aligned with where my thought process was at the time was super appealing to me. And I saw a market void and an opportunity to really help consumers.”
DeVico witnessed a great deal of innovation and funding going into cybersecurity in the corporate world. “But,” he shares, “it was all going into business-to-business-type solutions as corporations were gearing up to defend against attackers.”
He notes, “It became apparent that innovation and money were going towards protecting the corporations, but consumers were largely left unprotected and without a viable solution that helped them recover from identity theft and restoration and that provided cybersecurity.”
Risk management, as DeVico explains, is complex, expensive, and siloed. He saw a clear opportunity to streamline and offer a consumer advocacy tool that provides online safety in today’s digital age, where virtually everything is conducted online, often involving data sharing with various companies. “We took those legacy risk management approaches and really tried to build something geared towards the consumer to manage that risk. It’s common for us to rely on these corporations for data safety, but with Dteckt, we are putting it in the hands of consumers so they can guarantee that they’re safe.” Without a tool to passively monitor the organizations that a consumer is doing business with, providing insights on privacy and protection, there is very little a consumer can do to get that information.
Many consumers have confidence in the companies they give their information to; maybe it isn’t so much confidence but little choice when it comes to purchasing the things they need online or paying their internet service provider, for example. But DeVico warns that consumers deserve better and, in this day and age, should take matters into their own hands.
“When you look at the data, and you look at identities that are being stolen or financial losses that are incurred from identity theft, and you look at families that need help in that space, I think what’s obvious is that it’s on the rise.”
While corporations continue to fight the good fight against the onslaught of numerous hacks, DeVico’s vast experience in the financial space has shown him that it is tough. “In the corporate world, there are blue teams and red teams. The blue team plays defense, and the red team attacks. If the red team really wants to get into an organization or target you as a consumer, they’ll likely succeed. It’s very hard to cover every single base.” While some organizations and businesses are genuinely trying for good cyber ‘hygiene,’ it’s nearly impossible to account for everything that could happen. And, frankly, some organizations don’t care about consumer security and privacy.
Consumers have to understand that and add another layer of protection. DeVico passionately shares, “At the end of the day, the individual is the one who’s responsible for his or her identity and online security.”
Dteckt’s Team of Experts
To see his vision for Dteckt come to fruition, DeVico knew he needed help. “I have a heavy tech background myself, on the cyber side, and I’ve also worked at a cybersecurity company. While working in the financial industry and in software services, I’ve had the opportunity to work with a lot of developers and network with them, and I was able to land some very talented people.”
Working with a number of executives across large financial institutions also gave him the opportunity to cross paths with John Idakazu and Joe Robinson, who now sit on the board at Dteckt. “Joe is a tech executive at 5th/3rd bank while John has executive tech experiences at MUFG, Union Bank, and Zions Bank.”
“We have a solid tech background. Our team has worked in fintech, worked for credit companies, and we have Experian executives. We have landed some great partnerships, and we are positioned well for a 2024 push.”
While there are identity protection and antivirus providers out there, there is so much more that consumers need: credit repair, identity restoration, identity theft monitoring, and persona monitoring. Matt DeVico’s Dteckt platform is the solution.
“At the end of the day, you’re trying to protect your identity, and you’re trying to protect your finances. So bridging that gap of all the different disciplines across online protection is key to really getting a full picture.” And it–Dteckt–provides that picture in OLED.
