GeoComply Solutions Inc., the market-leading provider of geolocation, fraud and risk solutions, has acquired OneComply Inc., a compliance and licensing management company that assists companies operating in unregulated markets to manage their personal and corporate licensing obligations.
This is GeoComply’s first acquisition and the deal will allow Geocomply’s customers to use OneComply’s set of tools to complete the entire licensing processing, be it completing initial applications for licenses or continuous compliance management.
OneComply offers a centralized and automated licensing compliance service, which, given the complex and piecemeal nature of the gaming regulatory landscape, is essential to have in order to streamline the compliance processes for those operating in regulated markets. Thanks to OneComply, organizations can save valuable time and resources, as this platform eliminates the complexity of licensing compliance by automating the process.
In an industry made up of operators and affiliates expected to adhere to a stringent compliance framework, this acquisition should prove to be a welcome one by all businesses within the iGaming realm. Players may not know this, but even promotions of no deposit free spins from nodepositworld.com would have gone through the wringer before actually being greenlit.
The terms of the transaction were not released.
GeoComply’s Offering
Founded in 2011, GeoComply offers solutions for preventing fraud and enhancing cybersecurity. Their primary focus is on detecting location fraud and verifying the digital identity of users. With over a decade of experience, GeoComply has gained the trust of renowned brands and regulatory bodies. Their geolocation solutions are currently installed on more than 400 million devices and analyze more than a billion transactions each month.
The company’s innovative products have been developed specifically for the highly regulated and intricate US online gaming and sports betting market. In addition to iGaming, GeoComply also provides geolocation fraud detection solutions to streaming video broadcasters, online banking, payment services, and the cryptocurrency industry. Notable customers includee Akamai, Amazon Prime Video, BBC, BetMGM, DraftKings, FanDuel, and Sightline.
About OneComply
Headquartered in Vancouver Canada, OneComply is a platform provider that specializes in compliance and licensing management to assist companies operating in regulated markets. By centralizing and streamlining data, OneComply helps these companies manage their licensing obligations for both individuals and corporations. This platform integrates various technologies, specifically tailored for the gaming industry, to automate compliance processes, providing improved efficiency, security, and overall management.
Comments from GeoComply
GeoComply Co-Founder and CEO Anna Sainsbury expressed her great pleasure at having completed the acquisition process, which was an opportunity they had been looking forward to as a company from their first interactions with OneComply.
According to Sainsbury, despite the necessity of licensing organizations and individuals, the process can be painful for any entity working in regulated markets like gaming or fintech. In this light, she affirmed the extent to which OneComply eases that pain both for GeoComply and for other regulators administering the process.
She also highlighted the benefits of having a high standard of compliance for those operating in the gambling industry. By adding OneComply’s innovative technology and solutions to their offerings GeoComply will be able to offer its customers a simplified, secure and easy-to-administer set of tools for the entire licensing process.
OneComply’s Comments
Echoing Sainsbury’s comments, Cameron Conn, the Co-Founder and CEO of OneComply mentioned that GeoComply has always been a source of inspiration for them. He further expressed their sense of anticipation to continue their journey as part of a wider GeoComply Team. Conn also affirmed his conviction that by joining forces with GeoComply they can improve the compliance and licensing solutions that they can offer to any regulated industry the world over.
