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/.
About BioConnect
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.