May 22, 2018 in Member Spotlights, News by DIACC

Spotlight on Prodigy Ventures

Meet Prodigy Ventures

1. What is the mission and vision of Prodigy Ventures?  

Prodigy Ventures’ mission is to enable its clients with faster digital transformation through the design, development, testing, and deployment of emerging technologies that drive value. Our experienced professionals are building new innovative solutions in mobile, secure digital identity, voice/smart speaker, video, and more.

2. Why is trustworthy digital identity critical for existing and emerging markets?

All our clients have 3 things in common. First, they offer products and services to consumers. Second, they have one or more digital transformation projects underway; either moving their business online (e.g. selling insurance products directly to consumers), or wanting to leverage the efficiency benefits created through digital processes (e.g. reduce cost, increase convenience and security with online self-service applications, etc.). And third, they share the need for a trustworthy digital ID, either because of regulation, or financial risk. Facebook or Google IDs simply don’t meet their needs.

As part of that digital transformation, a number of classic digital identity use cases emerge. Prodigy is working on a series of “privacy-by-design” enabled solutions that facilitate the use of trustworthy digital identity to support account creation and updates, account recovery, eligibility checks, as well as service add-ons and changes.

3. How will digital identity transform the Canadian and global economy? How does Prodigy address challenges associated with this transformation?

Canada is one of the most connected countries of the world. We believe Canadian businesses and the economy in general will take a major leap forward when a solid, trustworthy digital identity service becomes available to all Canadians. It will create groundbreaking business opportunities.

Prodigy plays a critical role in helping companies go from “aspiring to change”, to “realizing the benefits” from digital transformation. Central to this is the need for a trustworthy digital identity. One that enables end-to-end digital business processes, which until now have been too often fractured, incorporating physical documents, requiring in-person interactions and/or using questionable data.

4. What role does Canada have to play as a leader in the space?

We can find in the country’s very own history the foundation for two important aspects that make for a strong and trustworthy digital identity service. First, the Canadian government and provinces all recognize and protect its citizens’ privacy. This is clearly demonstrated in a number of ways, from the appointment of privacy commissioners’ responsibilities, to the incorporation of privacy-by-design requirements when introducing the development of new consumer-facing services. Second, Canadians are used to cooperating. Around the world, telcos or banks are rarely the first to cooperate. In Canada however,  we have seen this a number of times. Since 2014, we have been witnessing banks, private and public sector institutions, and telcos, working together to build the foundation of a trustworthy Canadian digital identity.

What we are collectively building and the accumulated knowledge around an inclusive, strong, secure, private digital ID, is clearly something that should make Canadians proud. We believe this makes Canada uniquely positioned to lead, with plenty to offer to other countries.

5. What else should we know about Prodigy?

We are a public Canadian innovation company (TSX:PGV) with combined thriving enterprise services business (Prodigy Labs) and a venture builder (Prodigy Ventures). Highly complementary, these businesses work together to drive growth with the latest technologies.

Prodigy is helping to accelerate the adoption of Canada’s first digital identity network by enabling enterprise clients to rapidly test, deploy and demonstrate business value with Verified.Me.