Prodigy's IDVerifact partners with BioConnect to verify identity across physical, IOT and digital applications
23 Aug, 2021, 07:30 ET
TORONTO, Aug. 23, 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 BioConnect.
As part of the agreement, IDVerifact will integrate BioConnect's Trust Platform, including multi-factor Authentication (MFA) and endpoint security solutions into its advanced digital identity platform. "IDVerifact's mission is to provide the most comprehensive platform of digital identity and trusted digital asset solutions to our enterprise clients. BioConnect is leading in the provision of digital and physical biometrics solutions. BioConnect's functionality allows us to expand the passive and passwordless capabilities for our clients providing IDVerifact with expanded flexibility when solving unique step-up and access use cases. Providing the ability to remove friction in existing identity validation and confirmation processes to our clients is essential in today's digital world," said George Colwell, SVP Digital Practices at IDVerifact.
The BioConnect Trust Platform is a modern security solution that connects your existing systems with the latest generation of biometric and mobile security. It is designed for large enterprises with complex infrastructure and security requirements, who need to reduce the risk of fraudulent digital transactions or access (for e.g., Financial Institutions), as well as those seeking to secure physical assets or facilities and increase regulatory compliance. "The integration of BioConnect's Trust Platform with Prodigy's IDVerifact will deliver identity assurance and adaptive authentication through mobile based multi-factor biometric authentication for digital transactions to meet enterprise customers' security needs, compliance requirements and to prevent fraud," said Mark Brady, VP Strategic Markets at BioConnect.
To learn more, visit our websites, https://prodigy.ventures/ and https://idverifact.com/.
To learn more about BioConnect and the services it provides, visit: https://www.bioconnect.com/.
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 experience with digital transactions. Providing solutions for identity proofing, KYC, AML, zero proofing and risk proof management. To learn more about IDVerifact, visit https://idverifact.com/.
BioConnect offers solutions to the toughest security problems that the enterprise faces. We help to increase security and identity assurance for any access event, no matter the deployment. Enabling trust in the connected world, BioConnect provides enterprise biometric authentication & a security platform to establish stronger trust in unifying a person's identity across physical, IoT and digital applications. The result is exact identity assurance, advanced cybersecurity and protection of the most valuable company assets; their people, data and IP. By innovating on the breadth of authentication options, BioConnect provides a level of trust that does not yet exist in the market today. The company is based in Toronto, Canada and is passionately powered by the brightest and most forward-thinking minds. With over 60 BioConnectors, we are quickly growing and scaling towards the future. To learn more about BioConnect and the services it provides, visit: https://www.bioconnect.com/.
About Prodigy Ventures Inc.
Prodigy delivers Fintech innovation. The Company provides leading edge platforms, including IDVerifact™ for digital identity, and tunl.™ for open banking and customer chat support, coupled with seamless integration of our partners best-of-breed Fintech platforms. Our services business, Prodigy Labs™, integrates and customizes our platforms for unique enterprise customer requirements, and provides technology services for digital identity, open banking, payments 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. For more information on Prodigy Ventures visit https://prodigy.ventures.
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 and six months ended June 30, 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
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