red violet & Innovative Enterprises Announce Strategic Alliance to Deliver Advanced Solutions to the Background Screening Ind...
April 09 2018 - 8:30AM
Business Wire
Red Violet, Inc. (NASDAQ: RDVT), a leading provider of
information and analytical solutions, and Innovative Enterprises,
Inc. (“Innovative”) announced today a strategic alliance with the
goal of delivering advanced identity verification, fraud prevention
and risk mitigation solutions to the background screening
industry.
Through a long-standing commercial relationship, Interactive
Data, LLC (“IDI”), a red violet subsidiary, and Innovative have
identified significant opportunities to build upon the combination
of their powerful solutions and expertise. As a result, Innovative
will leverage IDI’s advanced algorithms and its proprietary data
and analytics platform, CORE™, to strengthen the accuracy, depth
and breadth of its market-leading products and solutions to the
background screening industry. IDI has designated Innovative as the
exclusive platform to deliver integrated products and solutions to
the background screening industry.
Innovative, an expert solutions provider to the background
screening industry, serves a majority of the largest and
highest-quality employment screening firms through its
enterprise-class solutions, supporting tens of millions of
background checks annually.
“Partnering with IDI and leveraging their unique analytical
capabilities delivers significant added value to the industry’s
leading professional background screening firms we serve,” stated
Clifford J. Williams, Innovative’s Founder and CEO. “IDI’s advanced
technology far surpasses what is currently available through
competing services, and we are excited to work with IDI’s team of
visionaries to deliver highly-differentiated solutions to our
customers.”
“Innovative’s decision to further strengthen our relationship
through this partnership when there are larger, more established
competitors is very significant to us in terms of the continued
acceptance and adoption of our solutions in the background
screening industry,” said Derek Dubner, CEO of red violet and IDI.
“We are excited to partner with Innovative, a top-tier provider and
thought leader, to build integrated solutions for the background
screening industry and to accelerate IDI’s market expansion.”
About red violet™
At red violet, 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.
At red violet, we are dedicated to making the world a safer place
and reducing the cost of doing business. For more information,
please visit www.redviolet.com or www.ididata.com.
About Innovative Enterprises, Inc.
For more than twenty years, Innovative has served as an expert
strategic partner to the background screening industry. Firms that
power their screening processes using Innovative's industry leading
solutions experience an average rate of growth that far outpaces
industry norms. Innovative commands an intimate knowledge of its
core competencies gleaned from more than two centuries of
cumulative staff experience in public records research and
aggregation, law enforcement, judicial administration and private
investigation. An industry leader since 1996, Innovative is a
founding member of the National Association of Professional
Background Screeners and has helped to raise the
bar through its active participation in the formulation of
best practice guidelines for industry providers across various
segments. Innovative was honored in 2008, 2009, 2015, 2016 and
again in 2017 as one of the Inc. 500|5000 Fastest Growing Privately
Held Companies in America. For more information, please visit
www.knowthefacts.com.
FORWARD-LOOKING STATEMENTS
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 are
subject to risks and uncertainties that are often difficult to
predict, are beyond our control and which may cause results to
differ materially from expectations, including whether Innovative
will be able to leverage IDI’s advanced algorithms and its
proprietary data and analytics platform, CORE™, to strengthen the
accuracy, depth and breadth of its market-leading products and
solutions to the background screening industry; whether the
strategic alliance between IDI and Innovative will deliver
significant added value to the background screening firms that
Innovative serves; and whether IDI’s technology far surpasses other
competing services. 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 Red Violet’s 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, except as
required by law.
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Alex Partners, LLCScott Wilfong,
425-242-0891PresidentScott@alexpartnersllc.com
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