TORONTO, May 31, 2021 /CNW/ – Prodigy Ventures Inc. (TSXV: PGV) (“Prodigy” or the “Company”) today announced the launch of IDVerifact, a platform designed and developed to simplify the complexity of multiple digital identity solutions. (CNW Group/Prodigy Ventures Inc.)

Demands for digital identity are on the rise. Online stores, regulated products, lottery and igaming, banks, financial service providers and insurers are all looking to protect their customers, their revenues and their brand reputations. Currently, multiple identity verification platforms must be used to ensure trusted transactions, each one addressing only a small part of each individual identity verification requirement.

Prodigy has launched a simplified visual platform to address each one of those needs in a single platform. IDVerifact provides the ability to combine and access a complete suite of leading digital identity providers to meet any business use case. Tom Beckerman, Chairman and CEO of Prodigy, said, “Our mission at Prodigy is to deliver Fintech innovation. We are excited to launch IDVerifact, our new, advanced digital identity platform. There is great demand for this platform, which simplifies the complexities of integrating, customizing and maintaining a broad range of digital identity solutions for enterprises in all sectors.” Digital identity technology must be flexible enough to easily evolve as new threats and requirements emerge. George Colwell, Sr. Vice President at IDVerifact said, “There has been explosive growth in the range of digital identity solutions available on the market, with signs of additional momentum in the near future. The advances in digital identity globally, and our partners’ innovations, are a great leap forward. However, enterprise consumption of these various niche solutions still presents the challenges of integration, orchestration, and the continuous innovation and adoption of new digital identity types and solutions. IDVerifact is built to eliminate these complexities. We are excited to help our clients rethink and re-engineer their customer experiences with IDVerifact for rapid adoption, time to market, and value realization from digital identity solutions.” With IDVerifact, organizations will stay ahead of fraud, quickly identify risk, and ensure compliance while optimizing their ability to grow revenues and improve client experience with digital transactions.

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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), Canada’s Top Growing Companies (2019 and 2020).

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. Forward looking statements in this press release include statements regarding the demand for digital identity solutions, the adoption of IDVerifact and the impact it will have on clients.  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 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.