With cybercriminals and rogue nations engaging in illegal online activity more than ever The West keeping a very close eye on Russia, there was never a better time for MindWise’s suite of cybersecurity solutions. The company’s slate of offerings – present and future – include loan fraud detection, payment processor protection, data breach monitoring, account takeover and consumer information monitoring.
MindWise expects to launch a pay-as-you-go pilot program for its card protection product that charges institutions per compromised card. This pilot program is priced at a substantial discount compared to its future pay-as-you-go pricing model and the company also anticipates rolling out a subscription-based model which will charge financial institutions on a per issued card basis.
With online security top-of-mind among banks & other financial institutions, businesses in general, as well as individuals, MindWise is positioning itself to generate multiple revenue streams from the most relevant market segments. To that end, the company has entered a Pilot Program Partnership with LoanClose to provide loan application fraud screening and data breach monitoring. MindWise and LoanClose are also engaged in a profit-sharing agreement in which LoanClose will introduce MindWise to its banking partners as its fraud prevention provider in return for a finder’s fee.
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Since the start of the COVID-19 pandemic, interest in the global fraud detection and protection (FDP) market has spiked. According to markets, the global FDP is expected to grow from $20.9 billion in 2020 to $38.2 billion by 2025, representing a 12.8% CAGR over that time. Partly accelerated by the COVID-19 pandemic, the research firm reports that 60-70% of people are now using one or many digital platforms, including the use of digital banking platforms and mobile or digital wallets.
As digital activity across the board can only go up, MindWise is closing in on lucrative markets with endless growth on the horizon.
Investments in MindWise are now being accepted for a limited time. Interested investors are encouraged to check out this startup opportunity.
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