BOCA RATON, Fla.--(BUSINESS WIRE)--IDI, Inc. (NYSE MKT: IDI), a data and analytics company, today announced a business update on the Company’s leading-edge, investigative solution for the risk management industry, idiCORE™.
Market Traction through June 2, 2016
In just 32 days since the commercial release of idiCORE (May 2, 2016), IDI has on-boarded over 2,800 users. These users represent a variety of industries within the risk management space, including law firms, debt recovery companies, investigative companies, process servers, and more.
Derek Dubner, CEO of IDI, stated, “While confident that we would see positive market reaction upon the release of our new technology, the current rate of adoption has exceeded our own expectations for the initial commercial offering of idiCORE. This is especially exciting given that this is only an early phase of the evolution of this product. We know historically that strong market adoption is the precursor to integration into end-user workflow, which then translates to strong revenue.”
Released by IDI subsidiary Interactive Data, LLC, idiCORE’s applications are in support of organizations’ rapidly growing need for fast, accurate, and cost-effective information solutions to power due diligence, risk assessment, fraud detection and prevention, authentication, and more.
The release of idiCORE is expected to rapidly accelerate the company’s growth into additional segments of the market, including government, financial services, law enforcement, insurance, and corporate risk.
“As additional data sets, consisting of billions of data points, are fused into the platform, our proprietary system transforms this data into actionable intelligence, expanding the comprehensive profiles of people and assets,” added Mr. Dubner. “As such, throughout the remainder of this year, we expect to greatly expand the addressable markets served by idiCORE, and to further address the diverse needs within each client organization.”
About IDI, Inc.
At IDI, we believe that time is your most valuable asset. Through powerful analytics, we transform data into intelligence, in a fast and efficient manner, so that our clients can spend their time on what matters most – running their organizations with confidence. Through leading-edge, proprietary technology and a massive data repository, our data and analytical solutions harness the power of data fusion, uncovering the relevance of disparate data points and converting them into comprehensive and insightful views of people, businesses, assets and their interrelationships. We empower clients across markets and industries to better execute all aspects of their business, from managing risk, conducting investigations, identifying fraud and abuse, and collecting debts, to identifying and acquiring new customers. At IDI, we are dedicated to making the world a safer place, to reducing the cost of doing business, and to enhancing the consumer experience.
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipate," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward looking statements include statements about whether we will greatly expand the addressable markets served by idiCORE. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed above together with the additional factors under the heading "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K filed on March 18, 2016, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q and other SEC filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.