Equifax’s offerings compared with Symantec’s LifeLock
Credit bureau company Equifax (EFX) offers many credit-monitoring and identity-theft protection offerings, and its solutions include ID Patrol and ID Patrol Premier.
LifeLock, a noncredit monitoring bureau that was acquired by Symantec (SYMC) last year, offers similarly priced solutions. But unlike Equifax’s offerings, which provide only real-time credit monitoring, the LifeLock plans also provide liability compensation.
Equifax issues that might prove beneficial to Symantec’s LifeLock
Although Equifax has offered free monitoring services, the recent data breach makes one question the credibility of using its services over other competent offerings available on the market. On both pricing and features fronts, LifeLock offerings now appear to have more appeal.
The breach could further lead to significant market-share losses. LifeLock, which enabled Symantec’s unaided brand awareness or brand recall to rise 40%, is likely to grab up this opportunity to push its offerings and gain market share.