DATA443 ANNOUNCES MULTI-YEAR CONTRACT TO PROVIDE DATA CLASSIFICATION AND PRIVACY SERVICES TO FLAGSHIP MIDDLE EAST BANK
Company’s Award-Winning Product, ClassiDocs, Selected After Rigorous Vetting Process, Long Term Agreement Signed
RESEARCH TRIANGLE PARK, NC, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (OTCPK: ATDS), the leading data security and privacy software company for ALL THINGS DATA SECURITY, is pleased to announce it has started the new year with another significant customer win for its industry leading ClassiDocs product which anchors its award-winning Global Privacy Manager technology suite. After a long and rigorous vetting process, Data443 was awarded a highly competitive win by a leading global bank headquartered in the Middle East.
This six-figure per year, initial three-year term deal will service the bank’s more than 10,000 employees. The Bank has made its relationship with Data443 a foundational component of its strategic plan to support its ‘cloud first’ approach which rapidly migrate its data and user base to the cloud. This Agreement and its strategic relationship enable the Bank to easily subscribe to Data443’ additional products on an ad-hoc basis.
When the vetting process began in July 2019, competing vendors were required to execute a proof of concept and pilot program that satisfied a ‘designed to break’ criteria, covering a wide swath of use cases, technologies and capabilities that the bank required immediately – and in the future. With a heavy focus on advanced Microsoft Digital Rights Management technologies (Azure Information Protection), and wide-ranging distributed platforms including big data platforms, Data443 was the only vendor that delivered on all fronts and proved to be successful in the proof of concept, resulting in the winning bid. The competitors included many big-name brands, including some that have raised hundreds of millions of dollars recently and profess to be unicorns.
Jason Remillard, CEO of Data443, commented, “We are thrilled to announce another significant customer win, and look forward to working with this prestigious Bank and the entire Middle East region in the coming years. The proof-of-concept process was incredibly challenging but was also rewarding and a major learning experience for us. From this process, we have increasingly adapted these lessons into adjustments to our product line, making ClassiDocs, Global Privacy Manager and the rest of our privacy and SaaS suites even better because of it, and continue to reap the rewards. Our results in 2020 demonstrated that success – even in an incredibly challenging year. 2021 continues to build on that foundation of success and strength. Leveraging the opening of our Dubai office and our new incredible partner in the Middle East, we look forward to continuing to be a leading provider of All Things Data Security!”