Exclusive Interview With The CEO: StrikeForce Technologies, Inc. (SFOR) - Mark L. Kay
June 13, 2012 - The Wall Street Transcript has just published Business and Application Software Report offering a timely review of the sector. This Special Report contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. Please find an excerpt below.
Mark L. Kay, Chairman and Chief Executive Officer at StrikeForce Technologies, Inc., joined the company in May 2003 and led the company to become a registered public company effective August 2005, which started trading on the OTC Bulletin Board in December 2005. From August 1977 to December 2002, Mr. Kay worked at JPMorgan Chase & Co., where he was a Managing Director for the majority of his employment there. Also, at JPMorgan, he led strategic and corporate business groups with global teams of more than 1,000 people. His responsibilities also included Chief Operating Officer, Chief Information Officer and Global Technology Auditor during his tenure. His business concentrations were securities - fixed income, proprietary trading and treasury, global custody services, audit, cash management - including money transfer and demand deposit, corporate business services and Web services. Before his employment with JPMorgan, Mr. Kay was a Systems Engineer at Electronic Data Services for more than five years. He holds a B.A. in mathematics from The City University of New York. Mr. Kay is also on several university business and computer science advisory boards, as well as a member of various networking groups and security organizations.
TWST: What is StrikeForce Technologies?
Mr. Kay: StrikeForce Technologies (SFOR) is a company that has software that prevents identity theft. We're a manufacturer of the software, and we are the proprietary owners and developers of it.
TWST: What are the company's principal solutions?
Mr. Kay: Our two principal solutions are ProtectID and GuardedID. ProtectID is a two-factor and out-of-band authentication platform. We are the only vendor in the market that has a platform solution for authentication that includes many two-factor authentication token methods combined with out-of-band methods. We use key fobs, and we provide soft token solutions on almost any mobile device. We've developed Apple iPad and iPhone and other pad-type-device solutions for authentication, plus we have many out-of-band methods. On the out-of-band methods, we have eight of them currently and keep adding new methods as clients request them, such as the most recent being a voice biometric that is certified for e-signature requirements.Out-of-band means you could use your telephone or any mobile device in order to complete your authentication process. In that respect, we offer the most authentication methods in total and with all running on one software platform, ProtectID, that provides full redundancy options and could be installed in-house or using our cloud service or a combination. This was considered a complication years ago. Now, it's what people prefer. The customers prefer the alternative availability and multiple authentication options, as proven through the deals we have won.
TWST: Who are the typical customers of StrikeForce Technologies? Are they integrated verticals that the company tends to have more expertise in or tends to focus on?
Mr. Kay: We are strategically focused in sales by working through our channel partners. We've some major channel partners in the different regions of the world, and as we are developing those channels successfully, while we still have a number of direct sales through our relationships and direct requests. However, our goal is to leverage the channel partnerships, which takes longer to close the first deal, but keeps our costs down and allows us to grow exponentially without having to increase support staff.The majority of the channel sales today are with our GuardedID product, which is a keystroke encryption and real-time, anti-keylogger product that is gaining a lot of momentum through the channel with bundled identity theft solutions in various markets. We're getting a lot of traction now, and it takes years to get a channel working and fully effective and productive, but it's now there.And meanwhile, we continue to close some major inside sales contracts by getting a number of hits through our Web site and calls into the office as the name of StrikeForce and its products starts getting market recognition. The business growth is exciting and beating our expectations.
The remainder of this 43 page Business and Application Software Report can be immediately viewed by purchasing online.
The Wall Street Transcript is a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations.
For Information on subscribing to The Wall Street Transcript, please call 800/246-7673