In what looks like a classic premium play, a basic free version of Garlik’s offering, rebranded Selftrade Identity Monitor Lite, is being made available to all of Selftrade’s customers with the option to upgrade to the full version, which offers more widespread monitoring of an individual’s ‘identity’ including address, passport number and credit/debit card and bank account details. The full offering will initially cost £35 per year, with presumably both Garlik and Selftrade sharing revenue.
Overall, it looks to be a smart partnership for Garlik since it gets to expose its products, albeit rebranded, white label-style, to Selftrade’s customer base – the exact kind of demographic who are likely to be concerned with identity fraud and theft.
Garlik (see our previous coverage) was founded by Mike Harris, founding CEO of online bank Egg, former Egg CIO Tom Ilube and former British Computer Society president Professor Nigel Shadbolt. The company, which has offices in the UK and US, is backed in the tune of $7.34m by three of the UK’s leading blue chip investment firms, Doughty Hanson Technology Ventures, Encore/DFJ Esprit and Noble Venture Finance.