Identillect Growth Continues to Increase

Identillect Technologies (TSXV:ID), a trusted leading provider of SaaS email security today announced 41 percent increase in subscriber growth over the past 12 months.

As quoted in the press release:

Identillect CEO Todd Sexton stated, “We are seeing growth in the medical, dental, title/escrow, and legal industries. We are pleased with the growth over the past 12 months and anticipate more to come in 2018.  With Identillect’s product innovation and enhanced market visibility in the legal, real-estate, and reseller markets we anticipate higher market penetration throughout 2018.  Identillect is positioned to cater to these industries and to provide our customers the path of least resistance in order to meet and exceed changing regulatory requirements.”

As the sophistication of cyber criminals changes the landscape of the way information is handled on a continual basis, the way we need to handle information must also change. “Cybersecurity spending to exceed $1 trillionfrom 2017 to 2021. Cybercrime damages to hit $6 trillion annually by 2021. This represents the greatest transfer of economic wealth in history and will be more profitable than the global trade of all major illegal drugs combined.”

Regulatory demands continue to change the way corporations look at maintaining security measures as fines and damage to organizational reputation create more significant consequences. Regulations continue to expand their reach trying to mitigate the damage caused by cybercrime. GDPR, HIPPA, GLBA, along with state and federal regulations are being reviewed to limit the damaging effects of cybercrime.

A prime example of cybercrime effecting the economics of a given industry, real-estate saw a significant rise in just 1 year. Wire fraud has become “the fastest growing cybercrime in the U.S. Nearly $1B in real estate transactions target wire fraud in 2017”. Identillect is directly addressing this market with the only blockchain enhanced email security to prevent wire fraud. This is just one of many ways Identillect continues to innovate to create a significant impact upon these advancing cyber-attacks.

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