Debix, an Austin startup that has been flying under the radar, made a splash today after appearing in an article in the New York Times on identity theft.  The NYT article focuses on the case of Gideon Yu, the CFO at Facebook, who had his identity stolen for over two years and racked up thousands by using his name and credit card number to make fraudulent purchases.  Mr. Yu is not alone in suffering from the effect of identity theft, as nearly 15 million Americans have been the victim of such crimes.  Hopefully, Debix and its rivals, such as LifeLock and TrustedID, will soon solve this increasingly common problem. 

Debix, which already has 275,000 customers, primarily through government and corporate accounts, charges $99 per year to protect your credit.  Prior to being able to open a new credit account, Debix will place a call to a prearranged number, requiring that the customer enter a four digit PIN code to approve the transaction.  The Company also offers up to $25,000 in identity theft insurance and identity recovery services.   

Judging by the strength of their management team, lead by Bo Holland, a start-up veteran who has been delivering innovative technology solutions to financial institutions for over fifteen years, its advisory board, which includes high level people from Citi, Charles Schwab, and RSA Security, and the huge market potential, Debix could soon become a household name.

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