GeoComply has announced the acquisition of solutions provider OneComply. The company said the merger will aid GeoComply in streamlining its compliance process and reducing non-compliance risk.
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.”
Sainsbury went on to add that the acquisition could potentially save money for the company’s current and new customers.
She commented: “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.”
OneComply assists companies that operate within regulated markets by managing both their corporate and personal licensing obligations.
Company 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.”
Elsewhere, GeoComply, a fraud and risk solutions provider, has agreed to finance a two-year research project for the International Center for Responsible Gaming (ICRG).
Through the grant, the ICRG will study self-exclusion programs used by both land-based and online gambling operators and their effectiveness long-term.
