TORONTO, June 28, 2021 /CNW/ - Prodigy Ventures Inc. (TSXV: PGV) ("Prodigy" or the "Company") today announced an agreement entered in between its wholly-owned subsidiary, IDVerifact Inc. and Fintainium, an industry leader in real-time payment verification and workflow automation.
As part of the agreement, IDVerifact will integrate Fintainium's robust suite of payment and workflow automation solutions. Fintainium also joins Prodigy's FinConecta Alliance Open Banking Platform, which will include AP and AR workflow automation, real-time payments, and on-platform lending.
Fintainium provides a new way to process invoices by removing payment friction, legacy paper, and manual processes while increasing productivity and working capital. Fintanium enables billers and payers to control the way they make and receive payments by providing the most innovative and wide-reaching selection of payment methods. Convert legacy paper-based invoicing and payment processes to real-time electronic systems that provide the rapid exchange of data, increase overall productivity, and optimize cash flow.
When asked about the new partnership, Fintainium CEO Richard Jackman remarked, "We are very happy to be part of the Prodigy ecosystem as they bring highly secure solutions to the Financial Services market. As the market continues to demand more digital payments, it's critical that these are secure. By combining the strength of Prodigy's IDVeritfact with the Fintainium platform, banks and credit unions can be confident that they can offer the newest of payment types to their customers in a secure environment."
About Prodigy Ventures Inc.
Prodigy delivers Fintech innovation. The Company provides leading edge platforms, including IDVerifact™ for digital identity, and new Fintech platforms for open banking and payments. Our services business, Prodigy Labs™, integrates and customizes our platforms for unique enterprise customer requirements, and provides technology services for digital identity, payments, open banking and digital transformation. Digital transformation services include strategy, architecture, design, project management, agile development, quality engineering and staff augmentation. Prodigy has been recognized as one of Canada's fastest growing companies with multiple awards: Deloitte's Fast 50 Canada and Fast 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018), Growth List (2018, 2019 and 2020) and Canada's Top Growing Companies (2019 and 2020).
About IDVerifact Inc.
A Prodigy venture, IDVerifact provides the ability to combine and access a complete suite of leading digital identity providers to meet any business use case. With IDVerifact, organizations stay ahead of fraud, quickly identify risk, and ensure compliance while optimizing their ability to grow revenues and improve client experiences with digital transactions. Providing solutions for identity proofing, KYC, AML, zero proofing and risk proof management.
With headquarters in Florida and Toronto, Fintainium facilitates the relationship between financial institutions, businesses, and other technology companies in North America. Fintainium combines world class domestic and international money movement products with workflow, accounting, and reconciliation automation. Fintainium enhances back-office operations for institutions and streamlines accounting processes for end-users.
Fintainium is an API-driven and modular platform that was designed to work seamlessly with other platforms. Fintainium's technology enables features such as three minute on-platform loan adjudication, integrated CFO toolkit with business intelligence, real-time payments, credit risk analysis, cash flow optimization, and back-office automation. Fintainium is the only platform that combines all these features into a simple, easy-to-navigate user interface and can also integrate into the background of a partner's larger solution.
Forward-Looking and Cautionary Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's Management's Discussion and Analysis for the three months ended March 31, 2021, a copy of which is filed on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Prodigy Ventures Inc.
For further information: PRODIGY VENTURES INC.: Andrew Hilton, Chief Financial Officer, [email protected], 416-606-8833; Yana Glushchenko, Marketing and Communications Lead, [email protected], 647-808-5081