DALLAS, July 24, 2018 /PRNewswire/ — GIACT Systems®, the leader in helping companies positively identify and authenticate customers, today announced rapid growth in the first half of 2018. New client growth increased 73% compared to the same period the prior year with an 88% year-over-year increase in revenue. Client retention remained high at over 99%.
During the first half of 2018, GIACT announced the launch of a new product offering, Beneficial IDTM, the first comprehensive digital platform built to directly address FinCEN’s beneficial ownership rule. GIACT’s new offering is designed to streamline the collection and verification aspects of beneficial ownership, expected to cost FIs over $250 million in staff training in the first year of implementation alone (according to FinCEN).
“GIACT’s performance in the first half of 2018 highlights our unique position in the market and the industry-leading fraud prevention tools we provide,” said Melissa Townsley, co-founder and CEO of GIACT.
Additional products within GIACT’s EPIC Platform also remained strong with increased interest in enrollment, payment and identity fraud solutions.
“GIACT’s performance in the first half of 2018 highlights our unique position in the market and the industry-leading fraud prevention tools we provide,” said Melissa Townsley, co-founder and CEO of GIACT. “GIACT’s solutions are ever-evolving to stay ahead of new threats and complex regulation. Keeping our customer’s protected is the key to GIACT’s success.”