Canada
Acuant Announces the Acquisition of Hello Soda to Strengthen Its Trusted Identity Platform and Global Position in Digital Identity
The acquisition follows the company’s best quarter in history with record revenue
Acuant, the global trusted identity platform for fraud prevention and AML compliance, announced the completion of the acquisition of Hello Soda as part of their continued investment and commitment to innovative technology. Hello Soda is a global provider of identity verification and KYC solutions headquartered in the UK with focus on the European and Asian markets. Along with the company’s deep expertise in eMoney and gaming, with customers including VirginBet, Klarna and Paysafe, the union will bring together powerful technology and data science capabilities that are key to unlocking trust in digital identities.
“Our goal has always been to power trust for all, a vision we share with Hello Soda whom we are excited to welcome to the Acuant family,” said Yossi Zekri President and CEO of Acuant. “This is truly the most exhilarating time in our company’s history, coinciding with the disruption of traditional financial markets, the rapid digitalization of the world and the need for business and governments to help safeguard identity more than ever before. Adding Hello Soda to our Trusted Identity Platform will reach more people today and position us even stronger for the future of digital identity.”
Hello Soda’s foundation in advanced analytics has driven its success in developing and delivering to market, a suite of solutions that leverage digital data sources and capabilities for the purpose of KYC and AML. With a strong focus on ensuring businesses receive actionable insight, Hello Soda’s technology utilizes proprietary analytics, matching algorithms and data science modelling to provide configurable and composite scoring, enabling businesses to make trusted decisions from the point of onboarding to enhanced due diligence (EDD) and continuous monitoring. Their leading dark web solution mitigates the risk of impersonation fraud by searching over 600 million records on the dark web for a customer’s information and provides an extra level of security by searching and monitoring customer PII against compromised data. Its innovative and multilingual platform has enabled Hello Soda to become a market leader in automated identity solutions, currently verifying identities in over 180 countries.
“We could not be happier to join Acuant, bringing our talent, technology, network and expertise to strengthen all we have accomplished and to take our mutual vision further as a team,” stated James Blake, Founder and CEO of Hello Soda. “Our combined technology will serve us well in our joint mission to democratize trust and provide solutions to reach every sector of the global population, allowing every individual to conduct trusted transactions when and where they wish.”
Acuant Experiences Record Growth
The acquisition comes on the heels of Acuant’s best quarter in company history and groundbreaking accomplishments:
Robust Growth: In Q1 2021, Acuant saw record revenue with over 30% growth YOY and ARR up over 60%, compliance revenue (with the acquisition of IdentityMind AML solutions in 2020) also grew over 170% YOY; adding several key new hires, total headcount grew over 30% YOY; the company welcoming dozens of new partners (including Refinitiv, Unisys, CoreSE and Albo) and had noticeable business spikes in healthcare and cryptocurrency verticals.
Patented Technology: This quarter, Acuant was awarded Patent # 10,931,461 and 10,965,668
the USPTO both for system and methods relating to digital identity verification (adding to patent
10,872,338); the company also celebrated hitting over 450M digital identities being created with their patented eDNA®).
Enhanced Global Coverage & Technology Partners: Along with the industry’s largest ID library (6k+ templates), Acuant has expanded its leading third-party data ecosystem to expand offerings and increase global coverage for verification to reaching more of the world’s population without physical IDs and/or smart devices.
Industry Leadership: Acuant has joined the Digital ID and Authentication Council of Canada (DIACC), Open Identity Exchange (OIX) and The Investing and Savings Alliance (TISA) to expand its membership of working groups such as the Document Security Alliance (DSA) and Association of Document Validation Professionals (ADVP), among others, and continues to meet INCITS, ICAO, NIST and ISO standards, and is in on track for FedRAMP certification in 2021. The Company continues to be the gold standard with PCI, SOC 2 and ISO 27001 certifications and is on track for FedRAMP certification in 2021. Acuant works to meet with INCITS, ICAO and NIST standards and puts privacy first and puts consumers in control of their identity (see their latest with Microsoft in Verifiable Credentials).
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AGCO
AGCO Fines Great Canadian Casino Resort Toronto $350,000 for Serious Regulatory Violations Linked to Impromptu After-Party on Gaming Floor
The Alcohol and Gaming Commission of Ontario (AGCO) has issued monetary penalties totaling $350,000 against Great Canadian Casino Resort Toronto for multiple violations of provincial gaming standards. The penalties follow an impromptu after-party that was permitted to take place in the pre-dawn hours directly on the casino’s gaming floor.
On September 27, 2024, an electronic dance music event attended by thousands of people was hosted in the theatre adjacent to the casino at Great Canadian Casino Resort Toronto. The event was marked by widespread intoxication, disorderly behavior, and numerous criminal and medical incidents – both inside and outside the venue – including alleged assaults, drug overdoses, and acts of public indecency. Although paid duty officers were present, additional police and emergency services were required to manage the situation.
In the midst of this high-risk environment, casino management approved an unscheduled request by the performing artist to host an after-party on the active gaming floor. The artist and more than 400 guests were permitted onto the gaming floor where the artist was allowed to perform amidst operational table games and gaming machines – without any prior risk assessment or planning.
As a result, security personnel were unable to effectively control the casino floor, including witness reports that an attendee was seen climbing onto slot machines. Failure to maintain appropriate control compromises the security, safety, and integrity of the casino floor. Following the conclusion of the event, the operator failed to promptly report these incidents to the AGCO as required.
Based on the findings of its review, the AGCO’s Registrar has issued an Order of Monetary Penalty (OMP) totaling $350,000 against Great Canadian Casino Resort Toronto. These penalties address critical failures in their operations, incident reporting, employee training, and the management of disturbances.
A gaming operator served with an OMP has 15 days to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), an adjudicative tribunal that is part of Tribunals Ontario and independent of the AGCO.
“Casino operators have a fundamental duty to control their gaming environment. Great Canadian Casino Resort Toronto’s lapses in this incident compromised the safety of patrons and the security and integrity of the gaming floor,” Dr. Karin Schnarr, Chief Executive Officer and Registrar of AGCO, said.
The post AGCO Fines Great Canadian Casino Resort Toronto $350,000 for Serious Regulatory Violations Linked to Impromptu After-Party on Gaming Floor appeared first on Gaming and Gambling Industry in the Americas.
International Game Technology PLC announced that its subsidiary, IGT Canada Solutions ULC (hereinafter “IGT”), signed an eight-year agreement with Atlantic Lottery to supply its IntelligenEVO video lottery central system technology across Atlantic Canada. The agreement includes the option for multiple extensions and positions the Atlantic Lottery to become the first World Lottery Association (WLA)-affiliated lottery operator to deploy IGT’s next-generation central management system in a game-to-system (G2S) distributed market.
“By leveraging IGT’s IntelligenEVO technology, Atlantic Lottery will power its video lottery network with the industry’s best-in-class central system and position itself to maximize future contributions to good causes. As an organization that prioritizes system security and exceptional player experiences, Atlantic Lottery believes that IGT’s IntelliegnEVO solution will help generate high player satisfaction and optimal network performance,” said Michael MacKinnon, Atlantic Lottery VP, Product.
“As a long-time supplier to Atlantic Lottery, IGT looks forward to helping the Lottery achieve its growth and player engagement goals with our leading-edge IntelligenEVO video lottery central system. IGT’s IntelligenEVO is a scalable technology for the WLA market that is backed by decades of experience and operator feedback, and maximizes the benefits of real-time data, cloud-based technologies and in-depth analytics,” said David Flinn, IGT SVP Canada, EMEA and LATAM, Gaming Sales.
With peak system security, network availability and responsible gaming functionalities, IntelligenEVO is a reliable, scalable solution that can meet the needs of today and in the future. The solution will accelerate time-to-market and enables the Atlantic Lottery to benefit from the system’s suite of player-focused functionality. The technology’s G2S and open API design optimizes data collection and delivery and will enable Atlantic Lottery to customize their program for evolving player needs.
The post IGT and Atlantic Lottery Sign Eight-Year Video Lottery Central System Technology Agreement appeared first on Gaming and Gambling Industry in the Americas.
NetGaming, a fast-growing online casino content supplier, is proud to announce its launch in Ontario with Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States, Canada and Latin America. This strategic collaboration marks a significant milestone for NetGaming as it continues to expand its footprint across regulated North American markets.
As part of the launch, Ontario players on BetRivers can now enjoy a diverse portfolio of NetGaming titles, known for their high-quality graphics, immersive gameplay, and unique themes. Standout games such as Zeus’s Thunderbolt, Bison Gold, and Fireball Inferno are among the first to go live, with additional titles set to follow soon.
This partnership is just the beginning. NetGaming plans to extend its collaboration with Rush Street Interactive into Michigan, New Jersey, Pennsylvania, Delaware, and Mexico over the coming months.
Pallavi Deshmukh, CEO of NetGaming, commented: “We are thrilled to go live with Rush Street Interactive, a powerhouse operator with a strong presence and loyal player base. This launch marks a significant milestone in our
North American expansion strategy and underscores our commitment to delivering exceptional gaming experiences tailored to local player preferences across the region.”
Richard Schwartz, CEO of Rush Street Interactive, commented: “We are pleased to partner with NetGaming to bring innovative, premium games to our players in Ontario. This collaboration aligns with our strategy to offer world-class
entertainment through engaging, action-packed online casino games. We look forward to expanding this partnership into additional regulated markets in the months ahead.”
This strategic partnership highlights both companies’ dedication to providing high- quality, innovative, and responsible entertainment to players in regulated markets.
The post NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform appeared first on Gaming and Gambling Industry in the Americas.
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