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Securefact


Security & Identity | Toronto, ON | Founded: 1995 | Employees: 42 | www.securefact.com

PHONE: (800) 396-8241 | LINKEDIN PROFILE | BLOOMBERG PROFILE

Last updated December 3, 2018 | To download a PDF version, click here

 

Company Overview

Securefact is a technology and transaction services company that offers public records and commercial relationship risk management services. It provides advisory, on-demand, and managed services for its customers’ know-your-customer (KYC) and customer identification needs, regulatory compliance requirements, and secured lending portfolios. The company works to convert time-consuming manual and sub-optimal processes into fully-compliant solutions.[1]

[1] https://www.crunchbase.com/organization/securefact#section-overview

Senior Management

David Sudbury: President and CEO (2012-Present). Previously: Vice Chair, Central East Local Health Integration Network, Ministry of Health (2016-Present); President, 2305555 Ontario Inc O/A Sudbury Advisory Services (2012-Present); VP Chief Compliance Officer and Secretary, Honda Financial Services (1982-2011), Vice President, Honda Canada Inc. (1982-2006). Education: BA History (1982).

Doug Lister: Vice President Sales (2016-Present). Previously: National Sales Leader, Serengeti Law (2006-2016); National & Global Accounts Sales Leader, Dun & Bradstreet (1990-2006). Education: Business, Humber College

Jeremy Fisher: Senior Director of Product Management (2017-Present). Previously: Leader, Product and Integrated Solutions, Teranet Inc. (2016-2017); Strategic Product Manager, Real Estate, Teranet Inc. (2010-2016); eService Program Manager, Teranet Inc. (2002 – 2010); Webcommerce Program Manager, Sun Microsystems (1999-2002); Product Marketing Contractor, Sun Microsystems (1996-1999). Education: BCom, University of Windsor (2002); MBA, e-Business, Bently University (1999).

Bernard Riverin: Director, Client Solutions (2014-Present). Previously: Lending Solution Expert – Analysis, Design and Implementation, Davis + Henderson Inc. (2006-2013); Business Development – Lending Solutions, Emergis Inc.(1999-2006); Internet Solutions Advisor for Small Business, Industry Canada (1997-1998). Education: BA, Economics & International Management, DESS-CE, e-Business, University of Montreal – HEC Montreal.


History

Gabor Horvat founded Securefact in 1995 and Securefact has been rapidly growing and creating strategic partnerships with data providers and technology platforms to increase its KYC capabilities.


Funding

Securefact remains to be a private company with no external funding. In 2015 it was listed on the PROFIT 500, a ranking of Canada’s Fastest-Growing Companies with a ranking of 68th and a five-year revenue growth of 1,067%.[2]

[2] https://www.businesswire.com/news/home/20150929005101/en/Securefact-Ranked-Number-68-2015-Profit-500


Key Corporate Developments

Press releases: https://www.securefact.com/securefact-blog
Dec 12, 2017: Zafin Introduces Zafin Origin — a Digital Origination Platform and Ecosystem for Banks
Feb 22, 2018: EnStream Announces Enhanced Consumer Identity Verification Services
Jul 3, 2018: Securefact and PPSA Canada enter into strategic partnership

 

Business Highlights

Strategy

Securefact leverages its technology along with its network of data and technology platform partners to target business & retail banking, payments & remittance, equipment & auto finance, wealth, brokerage & exchange, real estate brokerage, and insurance firms in the following functions:

  • Compliance & Risk – Securefact leverages its non-face-to-face KYC solution that meets Canadian regulations to deliver a more convenient compliance process for Canadian financial institutions and their clients. Securefact partners with data providers to centralize KYC information from multiple databases.
  • Finance & Operations – Securefact’s digital channel solution improves back-office efficiency and digitizes repeatable tasks involved with new client onboarding and reduce the cost of acquiring customers. Securefact leverages its strategic partnerships with platform and data partners to provide developer friendly API’s and information security.


Products/Pricing

  1. LEV® (Legal Entity Validator): LEV® streamlines the due diligence process for Canadian financial institutions with business customers. LEV instantly verifies legal entity information and allows for faster decision times for lending, payment processing and opening new accounts for corporate clients. LEV® is also capable of monitoring active status of a company and provide real time updates on changes to its public records.
  2. SIDni™ (Secure Identification Network for Individuals): Securefact developed SIDni™ as a solution for financial institutions to acquire new retail customers easier and conduct KYC on individuals through a non-face-to-face environment while remaining FINTRAC-compliant. SIDni™ automatically verifies the individual’s data with multiple authoritative databases and enables financial institutions to acquire new customers online while reducing costs.
  3. Attestanet™: Securefact’s solution for end-to-end digital KYC for Canadian financial institutions. It is a combination of LEV® and SIDni™ while with the added benefit of secured data storage and custom monitoring of data to ensure clients are compliant with the latest PCMFLTA (Proceeds of Crime (Money Laundering) and Terrorist Financing Act) regulations.


Technology

Securefact leverages technology that enables it to access a large number of databases provided by its data partners in order to quickly verify individual and corporation entities. The technology platform partners allow Securefact to customize its platform for customers in a variety of industries.

Distribution/Logistics

Securefact serves Canadian financial institutions along with its network of technology platform and data partners depending on the nature of the solution and the client’s industry.


Marketing

Securefact provides its solutions directly to financial institutions along with its network of strategic partners. It markets itself through both company blogs and issuing opinions through new sources.

 

Competitors

There are several KYC and customer identification service providers operating in the Canadian financial institution space, for example:

  1. ESC Corporate Services – (Toronto, ON) ESC provides customized and automated solutions to validate the status of business entities including both primary and secondary proof of existence, as well as performing other compliance activities associated with client on-boarding and credit risk management.
  2. Trulioo – (Vancouver, ON) Trulioo provides secure access to traditional and alternative data sources worldwide to instantly verify consumers and businesses online



Corporate Profile Created By: Jerry Wang, Ivey HBA 2019