- As cyber-attacks increase in sophistication and frequency, the need for solutions to protect sensitive data has never been greater
- Data443 continues its string of success, securing two additional contracts with fintech clients; appears poised to expand its market footprint to include insurance, rating agencies, and large and small banks
- Data443 appears ahead of the curve in EFT/MFT, positioning the company for continued growth
Data443 Risk Mitigation (OTC: ATDS), the “All Things Data Security” software company recently announced two contract wins from large fintech clients, growing relationships within the financial technology sector based upon their commitment to keep sensitive data safe and secure in an increasingly digital world (https://ibn.fm/2hXT8).
The first win is the additional contract from a leading global organization that provides services in the merchant, banking and capital market solutions marketplaces. This powerhouse client is a major player, processing a staggering 75 billion transactions per year. With a total transaction value of more than $9 trillion annually, the client has been confident in Data443’s ability to handle its enterprise file transfer for more than 15 years.
This success is only the beginning of Data443’s winning streak. The company has also secured a contract with another long-time payment technology and services client that annually transfers over 10 million sensitive files for thousands of merchants, issuers, and consumers. In the payments space, data security is vital as any breach or leak could have devastating consequences both in terms of monetary losses and irreparable damage to reputation and trust. “Today’s announcement continues a trend of growing momentum in our client renewals, enhancing our sales and emphasizing driving recurring revenue. The response from our clients has been overwhelmingly positive when pursuing contract renewals, leading to a very full sales funnel that can meaningfully contribute to growing our top line over the next several months”, said Jason Remillard, CEO and founder of Data443 as he announced this achievement.
Data443’s Data Placement Manager processes thousands of sensitive data files hourly, making it a reliable and essential part of clients’ operations. The company apart is not only providing cutting-edge technology, but flexible pricing options such as pay-per-file-transfer that help businesses bypass prohibitive costs that often hinder their access to innovation. “Our goal is to eliminate the cost barrier to allow businesses to focus on more strategic architectural choices,” Remillard explained.
As the digital age advances, cyber-attacks and data breaches have become a major threat to businesses across different sectors and sizes. In 2022 alone, 1.2 billion records were compromised in just the top 35 global breaches (https://ibn.fm/eeApt). A lack of adequate security measures to protect sensitive information can lead to astronomical costs. A recent IBM study shows that the cost of a data breach averaged $4.35 million in 2022, hitting an all-time high (https://ibn.fm/U7wLS). Given the massive amounts of confidential data it stores, the financial sector is especially vulnerable as a prime target for cybercriminals. Here, the loss of trust from customers and investors can be devastating. Still, despite increasing data security risks, solutions currently available on the market tend to be fragmented and slow to deploy, often failing to detect and defend when they are most needed.
With companies like Data443 Risk Mitigation, businesses can breathe a little easier. Designed to bring businesses peace of mind, knowing that their sensitive data is in safe hands, the company’s solutions aim to deliver a secure, audited, and operationalized capability to transfer sensitive data. As a result, businesses can move their data quickly and efficiently without having to worry about the logistical challenges of managing and maintaining their own data infrastructure.
With two impressive wins under its belt, Data443 has shown yet again that it is a force within the data security and privacy space. The company is focused on expansion of its market footprint to include other financial sectors – such as insurance, rating agencies, and large and small banks – which are now recognizing the need for rapid, managed data movement capabilities.
Data443 Risk Mitigation, Inc. (ATDS) Investor Relations
For more information, visit the company’s website at www.Data443.com.
NOTE TO INVESTORS: The latest news and updates relating to ATDS are available in the company’s newsroom at https://ibn.fm/ATDS
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