IRVINE, CALIFORNIA--(Marketwired - Apr 10, 2017) - Identillect Technologies Corp. (the "Company" or "Identillect") (TSX VENTURE:ID)(IDTLF), a trusted leading provider of SaaS email security today announced that it achieved double-digit subscriber growth over the past two quarters. The Company's growing momentum was driven by adoption of Identillect's Delivery Trust™ email encryption solution by new customers to displace solutions from other vendors. Identillect's subscriber base grew by 34 percent from the beginning of Q4 2016 (18.5%) to the end of Q1 2017 (15.5%). Identillect also continued to expand its global reseller network through new strategic technology alliances.
Identillect's Delivery Trust™ is a trusted email security platform which provides businesses of all sizes with the most effective and economical way to protect client personal identifying information and comply with increased regulatory requirements.
"Identillect has started 2017 strong. We are focusing our efforts to be the leader in security and data protection for our customers." said Todd Sexton, Identillect CEO. "To achieve this goal and to continue to build momentum, we are actively enhancing our product portfolio, expanding our sales teams and reseller networks and continually seeking new opportunities to meet the growing demand for cost effective, compliant cyber security solutions for business."
Recent well-publicized data breaches have put businesses on alert. On average, the cost to business of a data breach has risen to $4 million per incident - up 29% since 2013 - according to the 2016 Poneman Cost of Data Breach Study. In addition to rising total cost, the average cost per stolen record - personally identifiable, payment, or health information about an individual contained in a Company's database, for example - the cost per lost record has grown to $158 from $154 last year. Healthcare, a highly-regulated industry that trades in some of the most intimate personal information - which can include patient names, medical histories, credit card data, and Social Security Numbers - has the highest cost per stolen record at $355.
There's a simple lesson for businesses: Don't be caught off guard when the next data breach affecting your firm comes to light. When businesses delay the implementation of a solution such as Delivery Trust™ or implement an inferior solution they run significant risk of being out of regulatory compliance, eroding customer confidence, experiencing a loss of market share, as well as becoming a cyber security statistic.
Identillect (TSX VENTURE:ID)(IDTLF) is a leading provider of proprietary email encryption services. Identillect's Delivery Trust™ email security technology platform empowers individuals and businesses of all sizes a cost effective way to create a more secure digital environment and protect against cyber security risks. Delivery Trust™ is the industries simplest plug and play security solution with a broad range of features including; state of the art encryption technology, restricting email forwarding and printing, receipt confirmation, limiting time available to view, and retracting sent emails. Delivery Trust™ is available for iPhone®, iPad®, Android, Windows and Mac PC's and Laptops and the web's most popular email platforms. Since commercializing the product, Identillect has quickly grown its subscriber base and is becoming recognized in the security industry as a top e-mail security provider. To get more information, visit www.identillect.com; follow us on Twitter @IdentillectTech or on Facebook @identillecttechnologies.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.