May 8, 2023 (Vancouver, BC) GeoComply Solutions Inc. (“GeoComply”), the market-leading geolocation, fraud, and risk solutions provider, is pleased to announce the acquisition of OneComply Inc., a provider of comprehensive solutions that assist companies operating in regulated markets to manage their personal and corporate licensing obligations.
The complex and piecemeal nature of the gaming regulatory landscape, coupled with the sheer number of newly regulated markets, makes it essential for operators, suppliers, and other licensed participants to have a centralized licensing solution to help them streamline their compliance processes and reduce the risk of non-compliance. By using the OneComply platform, organizations can eliminate complexity and automate licensing compliance, saving them valuable time and resources.
GeoComply Co-Founder and CEO Anna Sainsbury said, “From our first interactions with OneComply, we have been excited about the opportunity to welcome them into the GeoComply family, and it gives me great pleasure to have completed that process.
Licensing organizations and key individuals is necessary but can be a painful process for any entity working in regulated industries such as gaming or fintech. As an existing OneComply customer, we know just how much OneComply eases that pain, not just for us but also for the regulators administering the process.”
With the addition of OneComply’s innovative technology and solutions, GeoComply will offer its customers in gaming, fintech, and other regulated industries a streamlined, secure, and easy-to-administer set of tools for the entire licensing process, from initial license applications to ongoing compliance management.
“Adding their licensing platform and expertise to our portfolio of solutions will materially and cost-effectively help our existing and new customers in the gaming and other regulated industries achieve and maintain a new gold standard in compliance and risk services. Together, we will have unparalleled capabilities to support the mission-critical compliance needs of the gaming industry, including AML, KYC, licensing, geolocation, sanctions compliance, and fraud prevention technology,” added Sainsbury.
OneComply Co-Founder and CEO Cameron Conn commented, “As fellow Vancouver-based entrepreneurs, GeoComply has always been an inspiration. Our Co-Founder Aaron [Gould] and I are super excited about continuing our journey as part of the broader GeoComply team. I am sure that together we will amplify and enhance our world-class compliance and licensing solutions for regulated industries around the globe.”
The terms of the transaction were not disclosed.
GeoComply provides fraud prevention and cybersecurity solutions that detect location fraud and help verify a user’s true digital identity. Trusted by leading brands and regulators for the past 10 years, the company’s geolocation solutions are installed on over 400 million devices and analyze over a billion transactions every month.
Our award-winning products are based on the technologies developed for the highly regulated and complex US online gaming and sports betting market. Beyond iGaming, GeoComply provides geolocation fraud detection solutions for streaming video broadcasters and the online banking, payments and cryptocurrency industries, building an impressive list of customers, including Akamai, Amazon Prime Video, BBC, BetMGM, DraftKings, FanDuel, and Sightline.
OneComply is a compliance & licensing management platform that centralizes and streamlines all the data required to support and protect a company’s most valuable asset – their gaming license. With decades of experience in the highly regulated gaming industry, OneComply enables operators, vendors, suppliers and service providers to significantly improve the efficiency, security, and oversight of their critical compliance and licensing management processes. OneComply integrates several technologies – a secure data repository, workflow management, visual dashboards, and license application automation – into a single, purpose-built platform designed specifically for the gaming industry.
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