ROLLING MEADOWS, Ill., Nov. 4, 2014 (GLOBE NEWSWIRE) -- Information Technology leader, Quadrant 4 System Corporation, (OTCQB:QFOR), and LifeLock, Inc. (NYSE:LOCK), the industry leader in proactive identity theft protection, announced today that the companies have entered into a new business relationship. As a result, Quadrant 4 will offer all of its private exchange clients access to all of the LifeLock products.
An estimated 16.6 million people, representing 7 percent of all persons age 16 or older in the United States, experienced at least one incident of identity theft in 2012, with losses of an estimated $25 billion.[1] LifeLock provides proactive alerts in its network to help identify potential threats to your identity before damage can be done. In the event that identity theft occurs, LifeLock provides award-winning Member Services.
"LifeLock is recognized nationally," says Nandu Thondavadi, CEO of Quadrant 4. "With identity theft on the rise, LifeLock can help provide our customers with protection and peace of mind. We see this relationship with LifeLock as one more way we can help our customers succeed at protecting their personal and financial data."
Quadrant 4 has developed the next generation of private exchange capabilities, allowing its clients to launch private exchanges for individuals and groups. As a Web Broker Entity, QFOR felt compelled to provide LifeLock services [or protection] as a product because of the problems associated with the sensitive financial information being shared to purchase insurance on the Healthcare.gov exchange.
SimpleSurance will be the first exchange to launch with the LifeLock products as a part of their overall product offering. Clarke Benefits, www.clarkebenefits.com developed SimpleSurance, www.simplesurance.com as an answer to the confusion surrounding Healthcare.gov. SimpleSurance is designed to help consumers better understand the complexities of insurance and healthcare and truly make it simple. SimpleSurance.com is the answer to this problem.
Quadrant 4 is a leader in the information technology industry, especially as it relates to their next generation private exchange solution. "We've found a true partner that aligns with our goals of helping people live freely in an always-connected world," says Don Beck, SVP Strategic Alliances at LifeLock. "We're delighted to join forces to better serve Quadrant 4's clients."
About Quadrant 4 Systems Corporation
Quadrant 4 (QFOR) is a SMAC (Social, Mobile, Analytics and Cloud) technology company offering state-of-the art PaaS (Platform as a Service) solutions in Healthcare (qHIX), Media (qBLITZ) and Retail (qSKU). Quadrant 4's highly scalable vertical cloud platforms coupled with our Global Professional Services organization provide our clients with a competitive advantage in the marketplace.
More information about Q4 Systems can be found at http://www.qfor.com.
About LifeLock
LifeLock, Inc. (NYSE:LOCK), is a leading provider of proactive identity theft protection services for consumers and fraud and risk solutions for enterprises. LifeLock's threat detection, proactive identity alerts, and comprehensive remediation services provide peace of mind for consumers amid the growing threat of identity theft. Leveraging unique data, science and patented technology from ID Analytics, Inc., a wholly-owned subsidiary, LifeLock offers identity theft protection that goes beyond credit monitoring. As part of its commitment to help fight identity theft, LifeLock works to train law enforcement and partners with a variety of non-profit organizations to help consumers establish positive habits to combat this threat.
[1] "Victims of Identity Theft, 2012," Department of Justice, 2013.