Prodigy's IDVerifact joins forces with EnStream to verify identity using mobile telecom services

TORONTO, June 21, 2021 /CNW/ - Prodigy Ventures Inc. (TSXV: PGV) ("Prodigy" or the "Company") today announced an agreement entered into between its wholly-owned subsidiary, IDVerifact Inc. and EnStream, the only company with direct access to mobile telecom information in Canada, covering over 90% of Canadians on all major mobile networks.

As part of the agreement, IDVerifact will integrate EnStream's identity verification services into the IDVerifact platform, providing the inputs that enable mobile phone owners to allow verification of their identities, mobile numbers and devices when transacting digitally.

"We are delighted to partner with Enstream to deliver their device and identity verification and authentication services with our IDVerifact platform," said Tom Beckerman, Prodigy's Founder & CEO. "Enstream's frictionless mobile network capabilities are unique in Canada and greatly enhance IDVerifact's platform service offering."

EnStream is deeply integrated into mobile operator networks and their customer account data allowing for reliable and definitive identity verification and improved user authentication. With over 15 years of experience, EnStream provides real-time verification that doesn't require any preloaded device software and works with any mobile device on any supported network, in ways that can't be spoofed.

"The smartphone is powering the digital economy," said Almis Ledas, EnStream's President and COO.  "A number of countries have already made it possible to sign contracts, arrange loans, buy property and even vote using a verified mobile device.  EnStream's services will help IDVerifact accelerate the use of mobile verification across Canada."

To learn more, visit our websites, https://prodigy.ventures/ and  https://idverifact.com/.
To learn more about EnStream and the services it provides, visit: https://www.enstream.com/.

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.

About EnStream

EnStream is a joint venture of Canada's leading mobile telecom companies – Bell Mobility, Rogers Communications and TELUS Communications – that provides identity verification and device authentication for 3rd party applications. Intended for banks, credit bureaus, insurance companies, government, utilities and many others, with end-user consent, these services can help provide timely and accurate verification of mobile subscriber identity and related account and service information, to enhance user convenience and reduce identity theft and fraud.

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 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