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NEWS
Data Vault Holdings Partners with CLEAR to Power its KYC (Know Your Customer) Solution
Data Vault Holdings has partnered with CLEAR, a security identity platform, to enhance its Know Your Customer (KYC) solution. This collaboration aims to address growing KYC needs, particularly in the NIL (Name, Image, Likeness) era. By integrating CLEAR's technology, Data Vault Holdings will improve security, compliance, and trust for new user accounts, especially in securing NIL rights and financial transactions.
The partnership is timely, as global AML and KYC spending is projected to grow from $3.1 billion in 2023 to $6.8 billion by 2028, with a CAGR of 17%. This collaboration will combine Data Vault Holdings' digital twinning and data monetization technology with CLEAR's identity verification platform, enhancing KYC accuracy and efficiency across various sectors.
Notably, Data Vault Holdings is under a definitive asset purchase agreement to sell its Datavault® and ADIO® IP and IT assets to WiSA Technologies, Inc. (NASDAQ: WISA). The closing of this transaction is expected before December 31, 2024, subject to customary conditions and stockholder approval.
The partnership is timely, as global AML and KYC spending is projected to grow from $3.1 billion in 2023 to $6.8 billion by 2028, with a CAGR of 17%. This collaboration will combine Data Vault Holdings' digital twinning and data monetization technology with CLEAR's identity verification platform, enhancing KYC accuracy and efficiency across various sectors.
Notably, Data Vault Holdings is under a definitive asset purchase agreement to sell its Datavault® and ADIO® IP and IT assets to WiSA Technologies, Inc. (NASDAQ: WISA). The closing of this transaction is expected before December 31, 2024, subject to customary conditions and stockholder approval.
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Mike Morency : How did you get this news so early? Please share your new release source. Thank you.