NetNut Enters the Fintech Market with Multiple New Customers

Rhea-AI Summary

Alarum Technologies' subsidiary, NetNut Ltd., has entered the fintech market and secured several new customers for its web data collection solutions. The global fintech market is valued at $305.7 billion in 2023, with a compound annual growth rate of 6%. NetNut's data collection services assist fintech companies in making data-driven decisions and staying competitive.

Positive

• NetNut's entry into the fintech market opens up new opportunities for growth and revenue.
• The global fintech market is estimated to be valued at $305.7 billion in 2023, with a compound annual growth rate of 6%.
• NetNut's web data collection solutions provide reliable and qualitative data required for fintech services.
• Fintech companies benefit from data collection services like NetNut for market research, price monitoring, lead generation, risk assessment, financial analysis, and competitive intelligence.
• Automating data collection from online sources allows fintech companies to make informed data-driven decisions and stay competitive.

Negative

• None.

The fintech market leverages technologies such as AI (artificial intelligence), RPA (robotic process automation), and big data to enhance financial services and activities

TEL AVIV, Israel, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of internet access and web data collection solutions, announced today that its of its wholly owned subsidiary, NetNut Ltd., has entered the dynamic world of Financial Technology (fintech), successfully securing several new customers that will leverage its cutting-edge solutions.

According to an analysis published by CEO Monthly (part of AI Global Media) in July 2023, the global fintech market has witnessed remarkable growth in recent times and is estimated to be valued at $305.7 billion as of 2023, growing at a compound annual growth rate of 6% as fintech solution providers leverage their growth through technologies such as artificial intelligence, robotic process automation, and big data to enhance their financial services and activities. NetNut is perfectly suited to enable the successful performance of such technologies and provide large amounts of reliable and qualitative data that is required for the fintech services.

Fintech companies adopt data collection services such as NetNut in order to collect vast amounts of data from the internet. Web data collection assists financial services and fintech companies in obtaining up-to-date data, which is essential for informed financial decisions. It offers benefits such as market research, price monitoring, lead generation, risk assessment, financial analysis, and competitive intelligence. By automating data collection from online sources, fintech companies can make data-driven decisions and stay competitive in their industries.

Shachar Daniel, Chief Executive Officer of Alarum, commented, "The fintech market recognizes the importance of quality web data collection, which is essential to fintech and financial services providers in making informed data-driven decisions and staying competitive in their industries. The recent onboarding by NetNut of its first several fintech customers validates the quality and competitiveness of our data collection solutions and allows us to bring our expertise to the forefront of the financial technology revolution. As NetNut makes its mark in the fintech landscape, we are dedicated to ensuring that our new customers receive the highest level of service and support."

About Alarum Technologies Ltd.

Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of internet access and web data collection solutions.

The solutions are based on our world’s fastest and most advanced and secured hybrid proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee privacy, quality, stability, and the speed of the service.

For more information about Alarum and its internet access solutions, please visit www.alarum.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Alarum is using forward-looking statements in this press release when it discusses NetNut’s expansion into the fintech market, the estimated growth of the fintech market and the advantages and benefits of NetNut’s solutions and its potential to address market need and/or demand. Because such statements deal with future events and are based on Alarum’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alarum could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Alarum’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, Alarum undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Alarum is not responsible for the contents of third-party websites.

Investor Relations Contacts:

Michal Efraty
+972-(0)52-3044404
michal@efraty.com

FAQ

What is the company behind the announcement?

The company behind the announcement is Alarum Technologies Ltd.

What is the name of Alarum Technologies' subsidiary entering the fintech market?

The subsidiary entering the fintech market is called NetNut Ltd.

What technologies does the fintech market leverage?

The fintech market leverages technologies such as AI, RPA, and big data.

What is the estimated value of the global fintech market in 2023?

The global fintech market is estimated to be valued at $305.7 billion in 2023.

What are the benefits of data collection services for fintech companies?

Data collection services like NetNut provide benefits such as market research, price monitoring, lead generation, risk assessment, financial analysis, and competitive intelligence.

How can fintech companies stay competitive?

Fintech companies can stay competitive by making data-driven decisions through automating data collection from online sources.