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Bullboard - Stock Discussion Forum Route1 Inc V.ROI

Alternate Symbol(s):  ROIUF

Route1 Inc. is a technology company that enables its clients with data-centric solutions. The Company brings security and operations together with real-time actionable intelligence to enhance safety and security. The Company has a background in software development, network operations, and cybersecurity. It provides advanced data in a usable format from video capture technologies to enhance... see more

TSXV:ROI - Post Discussion

Route1 Inc > We have news!
View:
Post by Pandora on Sep 24, 2020 1:44pm

We have news!

 

Route1 to provide MobiKEY to First Community

 

2020-09-24 13:40 ET - News Release

 

Mr. Gresham Hill reports

FIRST COMMUNITY BANK CHOOSES ROUTE1'S MOBIKEY OVER VPN

First Community Bank has chosen Route1 Inc.'s secure remote work technology, MobiKEY, for its 27 branches and 80 staff members over a competing virtual private network or VPN (virtual private network) solution.

The Situation

When Karl Kemp added two employees to his First Community Bank IT team six years ago, he learned about a secure remote work solution that promised advantages over virtual private networking (VPN). Kemp was intrigued.

"I was not unhappy with VPNs at the time," remembers Kemp, First Community's Senior Vice President and Director of Information Technology, "other than being a bit aggravated at the difficulties of managing them. I was, however, concerned about the overall security of allowing a computer outside of my network, my control and my cleaning processes to have a direct tunnel into my network. There just didn't seem to be a great alternative."

The alternatives that Kemp had considered included Mobile VPN solutions with a certificate, hard VPN solutions or VPN services, which he ruled out immediately. "As a bank, we are cloud-averse," he says. "I just don't like giving someone else the keys to my back door. The same goes for GoToMeeting and GoToMyPC." The other option that Kemp considered was IP-locked remote desktop protocols, which he finds painful to manage. He acknowledges that while firewalls can be bolstered to block most known threats, you can't protect against a Zero Day event with a firewall…or a VPN.

The Solution

The secure remote work solution that the new employees brought to Kemp's attention was MobiKEY. He deployed several of the devices for the IT team, then rolled them out for the executive team. The MobiKEY technology was well received. The staff found it easy to use and effective when remoting into their PCs at the head office or at any of First Community's 27 branches in Arkansas and Missouri. Both teams now carry MobiKEY devices at all times.

Kemp also valued the data loss-prevention aspect of the MobiKEY technology over VPNs. "It's tough to lose something that hasn't left the office," he chuckles. "When all of your files stay at the bank, the greatest risk you face is limited to losing a personal or bank-issued device that-because of MobiKEY-contains no bank information. I like that scenario a whole lot better."

First Community expanded its MobiKEY usage to include department managers, who previously came into bank branches after hours when work demanded it. Doing so incurred added risk, of course, which is now largely avoided by remoting in using MobiKEYs. "We also have people on leave, on maternity," notes Kemp, "and some that work odd hours. MobiKEY solves all of that."

Kemp has recently taken the ‘remote-in' approach to its ultimate conclusion: employees who live elsewhere in the U.S. and almost never come in to the head office now remotely access virtualized machines, which he has found to be an elegant solution.

Coping With COVID

When the Coronavirus pandemic hit, MobiKEY technology use at First Community exploded. Kemp rolled out MobiKEY MC3 devices for all office staff and instituted a simple training protocol. For most staff, the IT team ran quick in-person training. "We had them plug their MobiKEY into a machine and log in. It was a 10-minute process. Everyone found it simple. In other locations, we reached staff by phone and my IT guys walked them through it. There were no real problems."

At the peak of remote work, First Community had 80 staff logged in via MobiKEY at once. Kemp was initially concerned that coronavirus-related MobiKEY usage across the U.S. would overwhelm Route1 infrastructure, but he experienced no problems and no delay in service. While some employees in rural areas would occasionally experience a degree of sluggishness, this was simply a by-product of the quality of their Internet connections.

The main complaint his team fielded from employees centered on the inability to print documents - an optional security feature of the MobiKEY implementation that allows organizations to selectively disable remote printing to prevent data leakage or to ensure compliance with policies.

MobiKEY also offers the additional benefit of allowing employees to remote in to more than one computer. Kemp's MobiKEY, for instance, lets him remote into several machines.

Not only did Kemp find MobiKEY easy to ramp up when the coronavirus hit, but it helped him avoid business interruptions and avoid burning man-hours implementing a VPN solution with adequate capacity. "VPN would have been a nightmare to set up," he says. "We have people with Macs, different versions of Windows, some running on a USB WiFi connection…security drawbacks are one thing, but VPN setup is another entirely. There are so many variables out there that can break a VPN…getting that put together during COVID would have been an ordeal."

MobiKEY will continue to be a mainstay of First Community's IT strategy, as it offers staff a secure, hassle-free way to remotely access their desktops, laptops and virtual machines. Kemp sees MobiKEY as a permanent solution for retaining out-of-state employees without taking on extra risk.

Equally important is the mitigation of risk to the branches' physical security through fewer instances of after-hours visits. Kemp realized that the easy access and confidence the MobiKEY solution provided his staff improved overall security for the bank. Cybersecurity was the main reason to get MobiKEY, but the ability to improve the safety of employees and reduce the liability to the bank was a welcome hidden benefit.

Kemp actively recommends MobiKEY to colleagues for ease of access, reliability of access, support, and data loss prevention. "I don't know of anything better," he observes. When asked why he thinks that MobiKEY is not more prevalent in the industry, Kemp is philosophical. "It's just not a well-known solution," he observes. "There's an old saying in IT, ‘nobody ever got fired for recommending IBM'. That pretty much sums up the situation with MobiKEY: people are scared to take a chance on something unfamiliar and be wrong about it."

Comment by Pandora on Sep 24, 2020 1:52pm
Now there is an endorsement we have been waiting for. If only the word and confidence can spread to other banks and financial institutions.
Comment by TimeBuilder on Sep 24, 2020 1:54pm
VERY GOOD NEWS...good find & posting  :>)   W e need alot more of  this type of news/sales to help drive our long term holding share price HIGHER    Regards to ALL other Patient Investors, TimeBuilder
Comment by lscfa on Sep 24, 2020 3:22pm
Official link....     https://www.accesswire.com/607704/First-Community-Bank-Chooses-Route1s-MobiKEY-over-VPN
Comment by knowsjack on Sep 25, 2020 10:22am
This article is a real nice piece of marketing. Getting it into the hands of as many CEOs across the land as possible would be a challenge worth taking on.  dyodd knowsjack
Comment by sford121 on Sep 25, 2020 11:16am
Nice news release.. glad to see a corporate order.  There are hundreds of banks in the U.S.    Good start to many more we hope.   Will be great to see the Navy update next week.
Comment by Pandora on Sep 28, 2020 1:47pm
Buy back shares!  The more things change, the more they stay the same! People say this is a good strategy, a good use of cash flow -- I may be a skeptic. Presumably if they are doing this with the available cash they are not currently looking at any further expansion of the business??
Comment by Stanny on Sep 29, 2020 1:16am
I think share buybacks are a great move for companies of this size if you have the cash. Increases the equity holding for each of us. Most of us on this board are holders and are looking for a higher share price. Nothing wrong with a little financial engineering. I support the move. Last years average purchase price was 53 cents. That's a win. And with a ceiling of .75 cents on the buybacks ...more  
Comment by Pandora on Sep 29, 2020 11:07am
I will listen to your sage advice -- and how long have you been a shareholder of ROI? I bought my first batch in 2013. ACB is 4.5c pre consolidation. Today's price is just under 6c on those terms. So almost 1.5 cents in 7 years and they have been doing share buybacks for most of those 7 years so presumably that is the value of which you speak  :-))
Comment by rollthedice10 on Sep 29, 2020 11:33am
I'm not generally a fan of share buybacks unless Company is cash rich and properly valued. ROI is niether of those. But at least the buybacks help keep the share price from falling further off the radar of investors. Although it doesn't seem to be on a lot of radars. I've held this stock for 10 years or more so I might as well ride it out. I think only some VERY substantial news will ...more  
Comment by yp01048 on Sep 29, 2020 1:26pm
I couldn't have said it better myself. We wait. And the longer we wait, the older and crankier I get myself.  I mean I came on board so long ago it's like another lifetime. I have had many email and even phone conversations with Tony and I'm happy at his willingness to respond to shareholder inquiries, the fact remains the same.  We are always waiting for that " ...more  
Comment by Stanny on Sep 29, 2020 12:47pm
to answer your questions. I have been in for over 10 years. I understand the flubber posts but still disregard them since what happened a long time ago is in the past. I was in before this management group took it over a lifetime ago. My break even is approximately. 90 cents. It represents about 5% of my portfolio. Why some people insist on using pre split prices on their posts is disingenuous ...more  
Comment by Pandora on Sep 24, 2020 3:24pm
Virtually no reaction, virtually no market reaction -- so much for my judgement!
Comment by lscfa on Sep 24, 2020 3:30pm
Anyone understand exactly how Mobikey works? This sounds like something is routed through Route1 servers so with the growth in customers will come the need to build more infrastructure.   "Kemp was initially concerned that coronavirus-related MobiKEY usage across the U.S. would overwhelm Route1 infrastructure, but he experienced no problems and no delay in service."
Comment by Pandora on Sep 24, 2020 3:32pm
Check with Tony - he responds pretty quick usually. Or would you prefer I ask him?
Comment by lscfa on Sep 24, 2020 3:55pm
I think a Route1 server acts as the controller....... FIG. 3 shows controller 50 as having one processing sequence for interacting with a host computer, another processing sequence for interacting with a remote computer, and the ability for these processing sequences to exchange messages. Controller 50 communicates at substantially the same time with a host and a remote ...more  
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