RESEARCH TRIANGLE PARK, N.C., April 11, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443”), a data security and privacy software company for "All Things Data Security," today announces an additional contract win from one of its largest fintech clients.
The client, a leading global organization, is a service provider in the merchant solutions, banking solutions and capital market solutions marketplaces. The client processes over 75 billion transactions amounting to more than $9 trillion annually. For over 15 years, Data443 has been a trusted partner for the client's enterprise file transfer service requirements. Data443’s Data Placement Manager processes thousands of sensitive data files on an hourly basis for thousands of partners across the globe.
Secure data discovery, identification, governance and distribution continue to be significant focuses of the Data443 platform. According to the Gartner® report “Hype Cycle for Cloud Platform Services, 2022” : “Managed file transfer (MFT) is a major market segment, with rapid growth of managed file transfer platform-as-a-service (MFTPaaS) in the segment.”
- 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 in on-premises MFT.
- The majority of MFT deployments today are on-premises, largely due to privacy and security concerns surrounding cloud-based MFT solutions.
- 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-play providers, many of which are likely to be acquired or exit the market over the next three to five years.
“The analysis from the referenced Gartner report matches our experience – moving highly sensitive data in a completely secure, audited and operationalized capability is a major business driver for our clients,” stated Jason Remillard, CEO and founder of Data443. “More organizations outside of fintech, such as insurance, rating agencies, and other large and small banks, are now needing these capabilities. There are two major use cases that largely drive customers' accelerated move to MFTPaaS: the growing need for rapid and managed data movement capabilities leveraging cloud-first architectures and constraints around staffing 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 major enterprise enhanced file transfer/managed file transfer (EFT/MFT) requirements. We’ve been ahead of the curve regarding many capabilities by enabling our clients 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 options. Our clients’ significant uptime, volumes and multimillion-dollar investments in Data443 product lines drive our focus and passion for All Things Data™.”
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To learn more about Data443, please 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/in transit, 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 governance and security by identifying and protecting all sensitive data regardless of location, platform or format. Our framework helps customers prioritize risk, identify security gaps, and implement effective data protection and privacy management strategies.
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as "expect," "believe," "anticipate," "may," "could," "will," "should," "plan," "project," "intend," "estimate," "predict," "potential," "pursuant," "target," "continue" or the 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 performance and operating results, and any other statements regarding Data443's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous 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 may relate to the outcome of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in the company’s charter documents; and the uncertainties 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 ("the SEC"), including in Part I, Item 1A of Data443’s Annual Report on Form 10-K filed with the SEC on Feb. 24, 2023, and the company’s subsequent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the company on the date hereof. Except as otherwise required by applicable law, Data443 undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.
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1Gartner, “Hype Cycle for Cloud Platform Services, 2022” Yefirm Natis | Fabrizio Biscotti, July 19, 2022.
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