Drew Liwer

Imagine 2003.

And then they tried to push it through.

They tried to push it through.

didn't become a reality.

In 2021, the rules were amended and included a lot of cybersecurity things that were supposed to be enacted by December 2022.

The rules were so harsh, and people suddenly understood that, holy crap,

The FTC is now going to go after me if I have any kind of financial dealings with anyone.

So historically, the FTC and the federal government in general went after the big enterprise as far as rules are concerned and fines and so forth and so on.

Suddenly, this rule said anyone with financial dealings that are electronic with anyone

has to have a cybersecurity program in place to be compliant, or else they must cease to do that part of their business.

So the people that got affected were private trainers, stores, people that you would never think about, and car dealerships.

There are over 9,500 car dealerships in the US.

They are the second largest originator of consumer loans in the US.

And this rule basically said either comply or you can't offer loans to your customers anymore, which is a huge part of their business.

Well, there is a compliance company, a SaaS compliance company called Comply Auto, that was providing a compliance platform to car dealerships in the US.

Of the 9,500, about 4,000 of them were on that platform.

And then they said they came, we've met each other and they said, okay, we sell them regular compliance, you know, EIP and employee compliance and OSHA compliance and all the rest of the stuff in this platform.

How can we now sell them cybersecurity compliance as well?

We worked together, we created a joint offering, went to market, and virtually all of their 4,500 car dealerships are on our platform today.

This was one of the fastest onboardings we've ever had with a partner.