GeoComply Solutions Inc., the market-leading geolocation, fraud and risk solutions provider, announced 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.
“From our first interactions with OneComply, we have been excited about the opportunity to welcome them into the GeoComply family,” said GeoComply Co-Founder and CEO Anna Sainsbury, “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 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,” Sainsbury said. “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.”
OneComply Co-Founder and CEO Cameron Conn added, “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.
