VersaBank's DRT Cyber Enters Into Reseller Agreement With Syrenis for Leading Consent and Preference Email Solution, Cassie

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Aug 31, 2021, 10:49 ET

– Reseller Agreement for Cassie Further Expands Suite of Services Offered by DRT Cyber with a Highly Complementary Solution to RAVEN Anti-Spam Legislation Solution –

LONDON, ON, Aug. 31, 2021 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VB), a leader in digital banking and cyber security solutions, today announced that its wholly-owned, Washington, DC-based subsidiary, DRT Cyber Inc. ("DRT Cyber") has entered into a Reseller agreement (the "Agreement"), with UK-based Syrenis, under which DRT Cyber will sell Syrenis' subscription-based, flagship product, Cassie, a world leading Consent and Preference Management solution for organizations globally. DRT Cyber will add Cassie to its suite of innovative solutions for data protection, cyber security and compliance.

Syrenis' Cassie empowers organizations to maximise their data, while ensuring regulatory compliance. Cassie provides a central, single source of truth for all Data Subjects across the myriad of systems found in multinational corporations (e.g. web-based cookie and embedded consent capturing and management), helping clients comply with increasingly stringent and complex global privacy laws while also managing consented data to ensure their clients can confidently and legally use that data in marketing activities. Cassie integrates seamlessly with DRT Cyber's anti-spam legislation solution, RAVEN (launched earlier this year) to provide full compliance with complex, global anti-spam laws.

"The addition of Cassie to DRT Cyber's suite of offerings marks another meaningful step forward in our provision of a comprehensive suite of services that form the four pillars of addressing the cyber security challenges of corporations and government today – Assessment, Detection, Protection and Privacy," said David Taylor, President and Chief Executive Officer, VersaBank. "It is an excellent complement to our RAVEN anti-spam legislation solution and together, these two solutions are a powerhouse in the privacy compliance sector, as businesses and governments globally deal with ever-increasing and increasingly complex regulation around online user data."

"We are delighted to welcome VersaBank's DRT Cyber as a partner for our Cassie solution, as they have particular expertise in data security and privacy that can offer new and existing clients a complementary range of specialist solutions," commented Glenn Jackson, Chief Executive Officer, Syrenis. "As the global data privacy environment becomes more complex, with a growing number of constantly evolving data protection laws, it's critical to entrust privacy solutions to specialist organizations that understand the principles of data privacy."

ABOUT SYRENIS

Syrenis provides personal information management and stakeholder engagement solutions for large global enterprises. The company's flagship product, Cassie, is an enterprise consent and preference management solution that enables large multi-national corporations to manage their data in compliance with global data privacy regulations, while at the same time, developing customer engagement and trust. Syrenis' Stakeholder Relationship and Management Tool, SMART, gives organisations the ability to track and trace their relationships with key internal and external influencers and stakeholders. Syrenis' solutions enable compliance, demonstrate transparency, minimize risk and establish engagement and trust. Syrenis has a widespread user base and the company's solutions are used extensively in many different sectors including healthcare, financial services, retail, resourcing, media and public sector. The company's client base covers Europe, North America, Middle East & Asia-Pacific. Syrenis is backed by angel investors, renowned business leaders, Sir Terry Leahy (formerly CEO of Tesco) and entrepreneur Bill Currie. Based in the UK, the company has ambitious plans for global growth and to support and expand its client base in North America. www.syrenis.com

ABOUT VERSABANK

VersaBank is a Canadian Schedule I chartered bank with a difference. VersaBank became the world's first fully digital financial institution when it adopted its highly efficient business-to-business model using its proprietary state-of-the-art financial technology to profitably address underserved segments of the Canadian banking market in the pursuit of superior net interest margins while mitigating risk. VersaBank obtains all of its deposits and provides the majority of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses. In addition, leveraging its internally developed IT security software and capabilities, VersaBank established wholly owned, Washington, DC-based subsidiary, DRT Cyber Inc. to pursue significant large-market opportunities in cyber security and develop innovative solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.

VersaBank's Common Shares trade on the Toronto Stock Exchange under the symbol VB and its Series 1 Preferred Shares trade under the symbol VB.PR.A.

Visit our website at: www.versabank.com

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SOURCE VersaBank