Zions Bancorp Partners with Sontiq® to Protect Small Businesses
ZIONS BANCORP ADDS SONTIQ® TO ITS BUSINESS COMPLETE MARKETPLACE
Partnership Enables Zions to Protect the Financial and Digital Profiles of Its Small Business Customers and Their Employees
Boston, Mass. — June 17, 2021
Sontiq, the leader in Intelligent Identity Security (IIS) today announced a new referral partnership with Zions Bancorporation, one of the nation’s premier financial services companies with total assets exceeding $80 billion. Zions will offer Sontiq’s Business Suite, an identity theft protection and mobile cybersecurity service to its small business customers and their employees within Zions’ Business Complete marketplace.
Nearly half of all cyberattacks today target small businesses. Coupled with the adverse economic conditions since March 2020, Zions recognized that Main Street needs extra support to rebuild and protect their livelihood post-pandemic. The impact of a cyberattack alone can cost a small business anywhere from $120,000 to over $1 million.
Cybercriminals targeting small businesses have been enabled by the vast troves of personally identifiable information (PII) compromised during the pandemic. The heightened vulnerabilities threaten the digital financial wellness of the small business and its employees; both groups are financially fragile in light of COVID-19, with 81% of small businesses losing revenue.
Sontiq’s Business Suite will be available through Zions’ Business Complete marketplace, an online shopping site featuring products and services designed to help improve the efficiency and financial wellness of small businesses.
Sontiq’s Business Suite includes the following capabilities, which will be available to small business customers through Zions Bancorporation subsidiary brands: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, and Vectra Bank.
- Mobile Defense Suite | Arms small businesses and their employees with key mobile cybersecurity capabilities including Secure My Network (VPN).
- Constant monitoring of the Dark Web for a small business’s information, including Employer Identification Number (EIN), domain, Creditsafe Safe Number, D-U-N-S Number, and corporate credit card number; additional alerts to employees if their personal information has been compromised.
- Business credit monitoring so that a small business can confidently manage their credit.
- Fully managed restoration for a small business’s employees, activated immediately in the event of misuse or fraud.
“Beyond providing financial services and support, it is our goal to connect small business customers with well-rounded and valuable resources that help them succeed long-term,” said Wes Barkell, SVP of Retail Specialty Products at Zions. “The business disruption caused by both identity theft and cyber-attacks is serious. With Sontiq’s identity theft and mobile cybersecurity protection, we believe that Zions’ small business customers will be better protected against the myriad of cyber threats they face every day.”
Sontiq President and CEO Brian J. Longe said that interest in Sontiq’s Business Suite has increased significantly over the past year. “Cyber concerns and identity fraud are now universal among businesses – it’s no longer a worry singularly reserved for large enterprises or those with a massive number of employees,” he explained. “We’re seeing cybercriminals adapt their strategies and methods to target small businesses and their employees more frequently. We can’t expect small business owners to be cyber experts too. Cybercrime and identity fraud can take a significant financial toll on small businesses – and recovery can often mean closing the doors.”
About Zions Bancorp
Zions Bancorporation, N.A. is one of the nation’s premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $80 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending. In 2020, Zions ranked as the 9th largest provider in the U.S. of the SBA’s Paycheck Protection Program loans. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good®.
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences, and personal empowerment for hundreds of millions of people. https://www.transunion.com
Sontiq, a TransUnion company, is an intelligent identity security company arming businesses and consumers with a full range of award-winning identity and cyber monitoring solutions, as well as restoration and response offerings. Sontiq products empower millions of customers and organizations to be less vulnerable to the financial and emotional consequences of identity theft and cybercrimes. Sontiq has an outstanding track record for delivering high-touch support and fraud remediation services, demonstrated through its 99% customer satisfaction ratings. https://www.sontiq.com