Annual T3 FinTech Report Highlights Paperclip Solutions

Rhea-AI Summary

Paperclip, Inc. (OTCMKTS:PCPJ) announced that its solutions—SAFE®, Internet eXpress, and Virtual Client Folder (VCF)—were recognized in the T3 Inside Information Advisor Software Survey for their growing market share. The survey, involving feedback from over 3,300 advisors, acknowledged Paperclip's SAFE® for its revolutionary encryption-in-use technology, which ensures data security even during use. Notably, SAFE's market share increased by 150%. This recognition underscores Paperclip's commitment to enhancing cybersecurity for financial advisors, a sector that is still lagging in this area. The findings were shared at the T3 Technology Tools for Today Conference in Tampa.

Positive

• SAFE® solution recognized for a 150% increase in market share.
• Increased ratings and recognition in key categories like Document Management.
• Secure data solutions appealing to the underserved cybersecurity needs of financial advisors.
• Strong participation from 3,309 advisors indicating significant industry influence.

Negative

• None.

The ‘Technology Tools for Today’ Inside Survey recognized Paperclip’s SAFE®, Internet eXpress and VCF solutions for gaining market share

HACKENSACK, N.J., April 05, 2023 (GLOBE NEWSWIRE) -- Paperclip, Inc. (OTCMKTS:PCPJ) has three solutions named in this year’s T3 (Technology Tools for Today) Inside Information Advisor Software Survey. The annual FinTech software report recognized Paperclip’s SAFE, Internet eXpress and VCF solutions for gaining market share.

T3 is a trusted resource for financial advisors, sharing the latest news plus in-depth reporting on financial services technology.

“The FinTech community has trusted Paperclip with its content management for more than three decades,” said Mike Bridges, President and COO of Paperclip. “And now they can rely on us to secure their data with SAFE® encryption-in-use.”

SAFE ensures that data is always encrypted, even while it is queried or in use. This level of encryption is revolutionary for financial services companies that need to secure sensitive information while ensuring it’s still accessible.

“One takeaway from the 2023 T3/Inside Information Technology Survey is that advisors still are not doing enough in the area of cybersecurity, said Joel P. Bruckenstein, CFP®, founder of T3. “There are numerous excellent solutions that advisors should consider when looking to improve their cyber readiness. Paperclip is one of the firms that has been working with advisors to keep advisor and client data secure.”

Paperclip’s SAFE® encryption-in-use solution, which launched in 2022, was listed in the Cybersecurity Resources section of the report showing a 150% increase in market share and a jump in ratings from 2022.

“Cybersecurity is obviously an important category in any advisory firm’s tech stack, not only from a regulatory standpoint but also because it protects against some of the most frightening forms of business risk,” the report stated. “But the market penetration statistics—albeit slightly on the rise—tell us that profession-specific cyber tools are not getting the attention they deserve.”

In addition to Paperclip SAFE, Paperclip’s Virtual Client Folder (VCF) and Internet eXpress were featured for the first time in this year’s report within the Document Management and Processing Tools sections, respectively.

“The goal of this annual survey is, and has always been, to help advisors and members of the fintech community answer their most basic and important questions about technology in the financial advisory space,” according to the report. “Pulling data from the previous survey, we can also measure which software/solutions are gaining market share, and track changes in user satisfaction ratings.”

The survey results were revealed at the T3 Technology Tools for Today Conference held in Tampa last month. The survey included participation from 3,309 advisors and planners.

“Paperclip listened to our customers to create solutions that help their businesses run more smoothly,” Bridges said. “We’re confident that with our current solutions and new innovations, we will continue to grow our market share in the FinTech space.”

About Paperclip, Inc.
Paperclip is a proven technology partner that continues to revolutionize content management and data security for Fortune 1,000 companies worldwide. Every second of every day, Paperclip’s innovative solutions are securely processing, transcribing, storing, and communicating sensitive content across the internet. Our solutions are designed to maximize efficiency to save millions annually, while maintaining absolute security and compliance. For more information, visit paperclip.com.

About T3 (Technology Tools for Today)

Founded by Dave Drucker and Joel Bruckenstein at the turn of the century, the T3 Technology Hub provides insights on technology for financial advisors. The website and newsletter provide the latest news plus in-depth reporting on financial services tech. T3 also hosts a large FinTech conference each year, bringing together a community of financial advisors, vendors, and industry experts.

MEDIA CONTACT:
Megan Brandow
Paperclip, Inc.
MBrandow@paperclip.com
585.727.0983

FAQ

What recognition did Paperclip Inc. (PCPJ) receive in 2023?

Paperclip's SAFE®, Internet eXpress, and Virtual Client Folder solutions were recognized in the T3 Inside Information Advisor Software Survey.

How much did Paperclip's market share increase for its SAFE® solution?

Paperclip's SAFE® solution saw a 150% increase in market share.

What did the T3 survey reveal about cybersecurity for financial advisors?

The T3 survey indicated that many financial advisors are not doing enough regarding cybersecurity.

When was the T3 Technology Tools for Today Conference held?

The T3 Technology Tools for Today Conference took place in March 2023.