VeroTrust to Provide Trust Solutions to Leading Online Translation Marketplace ProZ.com
11/20/01 7:56 AM Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)--Nov. 20, 2001--
Using Unique US SEARCH DARWIN(TM) Technology, Internet Trust Services
Division Provides Security Tools to Promote Growth
US SEARCH (Nasdaq:SRCH), a trusted, reliable source of information and risk management services, today announced that its VeroTrust(TM) Division has signed an agreement with ProZ.com, the leading online translation marketplace. VeroTrust(TM) will immediately begin providing trust services to ProZ.com\'s U.S.-based customers. Through its TrustIdentity(TM) product suite, VeroTrust(TM) provides an essential service that enables translators and those wishing to use the services of translators to transact online with the confidence of knowing they are dealing with someone whose identity has been verified by an independent third party. This application incorporates the first use of US SEARCH\'s DARWIN(TM) data retrieval and assimilation technology announced previously. This unique technology was originally introduced in a US SEARCH press release dated September 26, 2001.
DARWIN allows VeroTrust to easily construct a highly efficient mechanism to retrieve the assimilated data required to intelligently identify members within the trusted ProZ.com community.
Implementing VeroTrust\'s(TM) identity verification solution allows ProZ.com to create a highly trustworthy community that encourages e-commerce and attracts new members. TrustIdentity becomes part of ProZ.com\'s Platinum Membership Program and current translators may now submit for verification.
\"VeroTrust(TM) fills a long-standing need for instant identity verification solutions in community-based marketplaces like ProZ.com, where trust is critical in attracting and stimulating online commerce,\" said Henry Dotterer, CEO and president, ProZ.com. \"TrustIdentity adds exceptional value to our workplace. As a result of having had their identities verified with a high degree of certainty by an independent third-party, participating ProZ.com members will enjoy increased trust, and in turn, increased business.\"
TrustIdentity instantly cross-references up to 100 databases to validate and verify the registered identity of U.S.-based ProZ.com members. Verified members are awarded a TrustIdentity Seal that lets other site participants know that its holder\'s identity has been verified, while maintaining their privacy. The solution is expected to be available to international based users in 2002. ProZ.com will also take advantage of VeroTrust\'s(TM) Agent Services bureau to manually verify the small percentage of marketplace members whose identities cannot be verified instantaneously.
\"VeroTrust(TM) is pleased to be working with an online leader and innovator like ProZ.com,\" said Brent Cohen, CEO and president, US SEARCH. \"By integrating VeroTrust(TM) applications and our unique US SEARCH DARWIN(TM) data retrieval technology, ProZ.com provides benefits to its users by increasing their confidence in transacting with one another, strengthening the site\'s mission of expanding translation opportunities and providing online efficiencies.\"
About US SEARCH\'s DARWIN(TM)
US SEARCH announced on Sept. 26, 2001, that it had filed a patent for a unique data retrieval and assimilation software technology. DARWIN is the brand name that has been given to this patent-pending technology.
About US SEARCH
Founded in 1994, US SEARCH (Nasdaq:SRCH) is a trusted, reliable source of information and risk management services, supplying individual, corporate and small business clients with one-stop access to a broad range of records and information. A leader in finding people and property, US SEARCH has extended its business to trust services through its VeroTrust(TM) Division, offering e-commerce companies and customers risk mitigation solutions through a combination of identity verification and fraud prevention tools. US SEARCH provides its customers with the right information to make faster, safer, smarter decisions(SM). The company is backed in part by Pequot Capital Management, Inc., a leading private investment fund group with more than $10 billion under management.
With over 25,000 members, ProZ.com is the Web\'s leading marketplace for translation services. In the \"jobs\" area of the site, tools are provided for translation agencies to locate the freelance translators best suited to their needs. The \"terms\" area of ProZ.com, dubbed KudoZ(TM), is a collaborative network, where freelancers gain points by helping each other to provide the best possible translations for clients.
ProZ.com is based in Oakland, California. For more information, see http://www.proz.com or contact Henry Dotterer, President, at 510/839-5793.
US SEARCH Forward-Looking Statements
This news release may contain forward-looking statements regarding future events or the future performance of US SEARCH with respect to, among other things, the demand for and the availability of the Company\'s services, especially its Trust and Verification Services, the benefits of VeroTrust(TM) products and their ability to mitigate risk and improve online liquidity, the benefits of agreements with third parties, the Company\'s plans for expansion and growth especially in the Trust Services segment, capabilities of its technical infrastructure, and US SEARCH\'s ability to grow its business and expand its service offerings. These projections and statements involve risks and uncertainties. Readers are referred to the documents filed by US SEARCH with the Securities and Exchange Commission, specifically those included in the Company\'s latest Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. US SEARCH\'s actual future events or results may differ materially as a result of risks facing US SEARCH or actual results differing from the assumptions underlying such statements. Such risks and assumptions include, but are not limited to, US SEARCH\'s ability to expand and market its product line and service offerings, particularly those intended for the Trust Services market, maintain and establish partnerships and Internet marketing arrangements, and respond to changes in the competitive environment.
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