LONDON, ON, March 30, 2021 /PRNewswire/ - VersaBank
("VersaBank" or the "Bank") (TSX: VB), a leader in digital banking
and cyber security solutions, today announced its wholly-owned
subsidiary, DRT Cyber Inc. ("DRT Cyber"), following extensive
testing internally within the Bank, is releasing its new email
privacy compliance platform, RAVEN, as an external beta to a select
group of customers prior to full market release.
RAVEN is the first and only fully automated and integrated
solution that provides complete compliance with all major global
anti-SPAM legislation, thereby allowing clients to respect and
protect their customers', suppliers' and partners' privacy.
RAVEN is both email platform and email client agnostic; it covers
all emails, whether they are sent from a mobile device, laptop or
web interface. It does not require an install or rollout of a
new or specific email system or client, and it integrates with all
existing email client and server solutions.
"Compliance with the stringent, complex and evolving local and
international anti-SPAM laws is a massive and continual challenge
for businesses globally – one that can come with a huge cost, both
monetary and reputational, for those that are unsuccessful in doing
so," said David Taylor, President of
VersaBank and DRT Cyber. "Recognizing that a vast number of
corporations of all sizes remain unprotected or under-protected
when it comes to anti-SPAM compliance, we developed an affordable
solution that is superior to current alternatives in safeguarding
them against costly and damaging inadvertent errors."
Mr. Taylor added, "RAVEN is an important component of DRT
Cyber's business strategy, adding a "Privacy" solution to its
broader suite of cyber security solutions to be able to address
this critical aspect of every organization's cyber security needs,
and provide governments and corporate organizations with a
comprehensive suite of effective cyber security solutions."
RAVEN is fully configurable, by customers, allowing for
organization-specific rules or even rules for specific groups and
users within an organization. This not only ensures an
organization is fully compliant with all applicable laws on both a
global and local basis, but confirms they can prove this compliance
with full, detailed audit tracking and reporting at the press of a
button.
RAVEN acts as the centralized system of record for all consents
and unsubscribes for all email platforms. RAVEN ensures both
one-to-one emails (those sent by employees using platforms such as
Outlook or Gmail) and email "blasts" from bulk mail platforms and
CRM applications are entirely and consistently compliant across the
organization.
ABOUT DRT CYBER INC.
A wholly-owned subsidiary of VersaBank, DRT Cyber was formed to
identify significant cyber security threats and to develop
innovative solutions to address the rapidly growing volume of cyber
threats challenging financial institutions, multi-national
corporations and government entities on a daily basis. DRT Cyber
operates from Washington, D.C.,
and services clients globally. DRT Cyber's first offering,
VersaVault®, is the world's first digital bank vault built for
clients holding digital assets and blockchain-based assets,
providing leading world class security, privacy of secured keys and
client-centric access flexibility. Digital Boundary Group
(DBG), a DRT Cyber subsidiary, is one of North America's premier information technology
(IT) security assurance services firms, providing corporate and
government clients with a suite of IT security assurance services.
DRT Cyber's vision is to provide governments and corporate
organizations with a comprehensive suite of effective solutions
that addresses the four fundamental components of cyber security:
Assessment, Detection, Prevention and Privacy.
ABOUT VERSABANK
VersaBank is a Canadian Schedule I chartered bank with a
difference. VersaBank became the world's first fully digital
financial institution when it adopted its highly efficient
business-to-business model using its proprietary state-of-the-art
financial technology to profitably address underserved segments of
the Canadian banking market in the pursuit of superior net interest
margins while mitigating risk. VersaBank obtains all of its
deposits and provides the majority of its loans and leases
electronically, with innovative deposit and lending solutions for
financial intermediaries that allow them to excel in their core
businesses. In addition, leveraging its internally developed IT
security software and capabilities, VersaBank established wholly
owned, Washington, DC-based
subsidiary, DRT Cyber to pursue significant large-market
opportunities in cyber security and develop innovative solutions to
address the rapidly growing volume of cyber threats challenging
financial institutions, multi-national corporations and government
entities on a daily basis.
VersaBank's Common Shares trade on the Toronto Stock Exchange
under the symbol VB and its Series 1 Preferred Shares and Series 3
Preferred Shares trade under the symbols VB.PR.A and VB.PR.B
respectively.
Visit our website at: www.versabank.com.
Follow VersaBank on Facebook, Instagram, LinkedIn and
Twitter.
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SOURCE VersaBank