RESEARCH TRIANGLE PARK, NC, April 11, 2023 (GLOBE NEWSWIRE) — via InvestorWire — Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443”), an “All Things Data Security” data security and privacy software company, today announces an additional contract win from one of its largest fintech customers.
The customer, a leading global organization, is a service provider in the trading solutions, banking solutions and capital markets solutions marketplaces. The client processes over 75 billion transactions worth more than $9 trillion annually. For over 15 years, Data443 has been a trusted partner for clients’ file transfer service requirements. Data443’s Data Placement Manager processes thousands of sensitive data files on an hourly basis for thousands of partners worldwide.
Secure data discovery, identification, management and distribution continue to be important areas of focus for the Data443 platform. According to the Gartner® report “Hype Cycle for Cloud Platform Services, 2022” [1]: “Managed file transfer (MFT) is a large market segment, with rapid growth of managed file transfer platform-as-a-service (MFTPaaS) in the segment.”
Business impact:
- Gartner estimates that MFTPaaS represented less than 25% of all MFT spending in 2021. MFTPaaS remains the fastest growing segment of the MFT market, outpacing the growth of on-premise MFT.
- The majority of MFT deployments today are on-premise, mainly due to privacy and security concerns surrounding cloud-based MFT solutions.
Customer obstacles:
- Adjacent technologies such as integration platform-as-a-service (iPaaS) and content collaboration platforms add deeper and broader MFT capabilities.
- The viability of some pure suppliers, many of which are likely to be acquired or exit the market in the next three to five years.
“The analysis from the referenced Gartner report aligns with our experience – moving highly sensitive data in a fully secure, audited and operationalized function is a key business driver for our customers,” said Jason Remillard, CEO and founder of Data443. “More organizations outside of fintech, such as insurance, rating agencies and other large and small banks, now need these capabilities. There are two major use cases that are largely driving customers’ accelerated transition to MFTPaaS: the growing need for fast and managed data movement capabilities that leverage cloud-first architectures and staffing constraints for operators and data engineers.”
Mr. Remillard added, “As evidenced by our product release frequency in 2022 and 2023, we continue to leverage our skills in large demands for Extended File Transfer/Managed File Transfer (EFT/MFT). We have been at the forefront of many opportunities at to enable our customers to drive product roadmaps and increasingly require more support and services Our solution is available on Microsoft Azure, Amazon AWS and Google Cloud Platform Several of our larger EFT clients are now leveraging the public cloud for scale, cost savings and disaster recovery. Our customers’ significant uptime, volumes and multi-million dollar investments in Data443 product lines drive our focus and passion for All Things Data™.”
Previous related announcements:
To learn more about Data443, watch the company’s video introduction on its YouTube channel: https://youtu.be/1Fp93jOxFSg
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTC: ATDS) provides software and services to enable secure data across devices and databases, at rest and in flight/transport, locally, on a network or in the cloud. We are All Things Data Security™. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data management and security by identifying and protecting all sensitive data regardless of location, platform or format. Our framework helps customers prioritize risks, identify security gaps and implement effective data protection and privacy strategies.
Forward-looking statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of terms such as “expect,” “believe,” “anticipate,” “may,” “may,” “will”, “should”, “plan”, “project”, “intend”, “estimate”, “predict”, “potential”, “according to”, “goal”, “continue” or negative of these words or other comparable terminology. Statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial results and operating results, and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or results are forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks, uncertainties and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They can relate to the outcome of court cases, settlements and investigations; actions of third parties, including government agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of or reduction in business with key customers; problems with growth and integration of acquisitions; product liability; cyber security risks; anti-takeover measures in the company’s charter documents; and the uncertainty created by global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. These and other important risk factors are described more fully in the Company’s reports and other documents filed with the Securities and Exchange Commission (“SEC”), including in Part I, Item 1A of Data443’s Annual Report on Form 10-K filed with the SEC on February 24, 2023 , and the Company’s subsequent filings with the SEC. Undue reliance should not be placed on forward-looking statements in this press release, which are based on information available to the Company as of the date hereof. Except as otherwise required by applicable law, Data443 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
“DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.
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1Gardener, “Hype Cycle for Cloud Platform Services, 2022” Yefirm Natis | Fabrizio Biscotti, July 19, 2022.
Gartner and Peer Insights are trademarks of Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product, or service depicted in this content, nor does it make any warranties, expressed or implied, with respect to this content, as to its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
