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.
Data Vault Holdings ha stretto una partnership con CLEAR, una piattaforma di sicurezza per l'identità, per migliorare la sua soluzione Know Your Customer (KYC). Questa collaborazione ha l'obiettivo di soddisfare le crescenti esigenze di KYC, in particolare nell'era del NIL (Nome, Immagine, Somiglianza). Integrando la tecnologia di CLEAR, Data Vault Holdings migliorerà la sicurezza, la conformità e la fiducia per i nuovi account utenti, soprattutto nella protezione dei diritti NIL e nelle transazioni finanziarie.
La partnership è tempestiva, poiché si prevede che la spesa globale per AML e KYC aumenti da 3,1 miliardi di dollari nel 2023 a 6,8 miliardi di dollari entro il 2028, con un CAGR del 17%. Questa collaborazione unirà la tecnologia di digital twinning e monetizzazione dei dati di Data Vault Holdings con la piattaforma di verifica dell'identità di CLEAR, migliorando l'accuratezza e l'efficienza del KYC in vari settori.
È importante notare che Data Vault Holdings è sotto un accordo definitivo di acquisto di attivi per vendere i suoi beni e diritti IP e IT Datavault® e ADIO® a WiSA Technologies, Inc. (NASDAQ: WISA). La chiusura di questa transazione è prevista prima del 31 dicembre 2024, soggetta a condizioni consuete e approvazione degli azionisti.
Data Vault Holdings se ha asociado con CLEAR, una plataforma de identidad de seguridad, para mejorar su solución Know Your Customer (KYC). Esta colaboración tiene como objetivo atender las crecientes necesidades de KYC, especialmente en la era del NIL (Nombre, Imagen, Semejanza). Al integrar la tecnología de CLEAR, Data Vault Holdings mejorará la seguridad, el cumplimiento y la confianza para las nuevas cuentas de usuario, especialmente en la protección de los derechos de NIL y las transacciones financieras.
La asociación es oportuna, ya que se proyecta que el gasto global en AML y KYC crezca de 3.1 mil millones de dólares en 2023 a 6.8 mil millones de dólares para 2028, con un CAGR del 17%. Esta colaboración combinará la tecnología de gemelos digitales y monetización de datos de Data Vault Holdings con la plataforma de verificación de identidad de CLEAR, mejorando la precisión y eficiencia del KYC en varios sectores.
Es notable que Data Vault Holdings está bajo un acuerdo definitivo de compra de activos para vender sus activos de IP y TI Datavault® y ADIO® a WiSA Technologies, Inc. (NASDAQ: WISA). Se espera que el cierre de esta transacción ocurra antes del 31 de diciembre de 2024, sujeto a condiciones habituales y aprobación de los accionistas.
Data Vault Holdings는 보안 신원 플랫폼인 CLEAR와 협력하여 고객 신원 확인(KYC) 솔루션을 강화했습니다. 이번 협력은 NIL(이름, 이미지, 유사성) 시대의 KYC 필요성을 충족하기 위한 것입니다. CLEAR의 기술을 통합함으로써 Data Vault Holdings는 새로운 사용자 계정의 보안, 규정 준수 및 신뢰성을 향상시켜 NIL 권리와 금융 거래를 보호하는 데 더욱 집중할 것입니다.
이번 파트너십은 전 세계 AML 및 KYC 지출이 2023년 31억 달러에서 2028년 68억 달러로 증가할 것으로 예상되며, 연평균 성장률(CAGR)은 17%에 이를 것으로 보입니다. 이 협력은 Data Vault Holdings의 디지털 트윈 및 데이터 수익화 기술과 CLEAR의 신원 확인 플랫폼을 결합하여 여러 분야에서 KYC의 정확성과 효율성을 높일 것입니다.
특히 Data Vault Holdings는 Datavault® 및 ADIO®의 IP 및 IT 자산을 WiSA Technologies, Inc. (NASDAQ: WISA)에 판매하기 위한 확정 자산 구매 계약을 체결하고 있습니다. 이 거래의 마감은 2024년 12월 31일 이전에 예상되며, 일반적인 조건 및 주주 승인이 필요합니다.
Data Vault Holdings s'est associé à CLEAR, une plateforme d'identité de sécurité, pour améliorer sa solution Know Your Customer (KYC). Cette collaboration vise à répondre aux besoins croissants en matière de KYC, notamment à l'ère du NIL (Nom, Image, Ressemblance). En intégrant la technologie de CLEAR, Data Vault Holdings améliorera la sécurité, la conformité et la confiance pour les nouveaux comptes utilisateur, en particulier en garantissant les droits NIL et les transactions financières.
Ce partenariat est opportun, car les dépenses mondiales en AML et KYC devraient passer de 3,1 milliards de dollars en 2023 à 6,8 milliards de dollars d'ici 2028, avec un taux de croissance annuel composé (CAGR) de 17%. Cette collaboration combinera la technologie de jumeaux numériques et de monétisation des données de Data Vault Holdings avec la plateforme de vérification d'identité de CLEAR, améliorant ainsi l'exactitude et l'efficacité du KYC dans divers secteurs.
Il est à noter que Data Vault Holdings est sous un accord définitif d'achat d'actifs pour vendre ses actifs IP et IT Datavault® et ADIO® à WiSA Technologies, Inc. (NASDAQ: WISA). La clôture de cette transaction est prévue avant le 31 décembre 2024, sous réserve des conditions habituelles et de l'approbation des actionnaires.
Data Vault Holdings hat eine Partnerschaft mit CLEAR, einer Sicherheitsidentitätsplattform, geschlossen, um seine Know Your Customer (KYC)-Lösung zu verbessern. Diese Zusammenarbeit zielt darauf ab, die steigenden KYC-Anforderungen zu erfüllen, insbesondere in der NIL (Name, Bild, Ähnlichkeit)-Ära. Durch die Integration der Technologie von CLEAR wird Data Vault Holdings die Sicherheit, Compliance und das Vertrauen für neue Benutzerkonten verbessern, insbesondere bei der Sicherung von NIL-Rechten und finanziellen Transaktionen.
Die Partnerschaft kommt zu einem günstigen Zeitpunkt, da die globalen Ausgaben für AML und KYC voraussichtlich von 3,1 Milliarden USD im Jahr 2023 auf 6,8 Milliarden USD bis 2028 steigen, mit einer jährlichen Wachstumsrate (CAGR) von 17%. Diese Zusammenarbeit kombiniert die digitale Zwillings- und Datenmonetarisierungstechnologie von Data Vault Holdings mit der Identitätsüberprüfungsplattform von CLEAR und verbessert die Genauigkeit und Effizienz von KYC in verschiedenen Sektoren.
Bemerkenswert ist, dass Data Vault Holdings unter einem endgültigen Vermögenskaufvertrag steht, um seine Datavault® und ADIO® IP- und IT-Vermögenswerte an WiSA Technologies, Inc. (NASDAQ: WISA) zu verkaufen. Der Abschluss dieser Transaktion wird voraussichtlich vor dem 31. Dezember 2024 erfolgen, vorbehaltlich der üblichen Bedingungen und der Zustimmung der Aktionäre.
- Partnership with CLEAR enhances security and compliance for KYC solutions
- Addresses growing KYC needs in the expanding NIL market
- Potential for increased market share in the rapidly growing global AML and KYC market
- Integration of advanced digital twinning and data monetization technology with CLEAR's identity verification platform
- Pending sale of Datavault® and ADIO® IP and IT assets to WiSA Technologies may impact future operations
- Closing of asset sale to WiSA Technologies subject to stockholder approval and other conditions
*Partnership to Address Growing KYC Needs in the NIL Era and Beyond*
By embedding CLEAR, Data Vault Holdings will further enhance security, compliance, and trust of its new user accounts. Data Vault secures NIL rights such as voice, appearance, and copyrighted material. Data Vault Holdings’ Information Data Exchange provides a robust solution for different financial transactions, ensuring KYC processes are seamlessly integrated to protect the authenticity of digital identities, addressing a major concern in these platforms.
“At CLEAR, we believe identity is foundational across so many industries,” said Andres Ricaurte, Head of Consumer and Financial Services at CLEAR. “We are partnering with Data Vault Holdings to deliver our secure, KYC compliant solution for its customers.”
The need for advanced KYC solutions is growing rapidly, as identity protection and fraud prevention become critical in the evolving digital economy. Global AML and KYC spending is projected to grow from
"Data Vault Holdings is proud to partner with a market leader like CLEAR, whose success and trusted partnerships have set a high standard in identity verification," said Nathaniel T. Bradley, CEO of Data Vault Holdings. "With the rise of the NIL market and the growing importance of KYC in revenue-generating activities, we are confident this collaboration will deliver industry-leading solutions for businesses and individuals alike."
Through this partnership, Data Vault Holdings will integrate its advanced digital twinning and data monetization technology with CLEAR’s identity verification platform, further improving KYC accuracy and efficiency for all participants, including businesses in the NIL space, sports and entertainment, financial technology, education and beyond.
Summary of WiSA Technologies & Datavault Business Combination
As announced on September 4, 2024, WiSA Technologies, Inc. (NASDAQ: WISA) entered a definitive asset purchase agreement to purchase the Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® Subject to customary conditions and approval by the stockholders of WiSA Technologies, the closing is expected before December 31, 2024. A webcast about the transaction is accessible under the Investors section of WiSA Technologies’ website.
About Data Vault Holdings Inc.
Data Vault Holdings Inc. is a technology holding company that provides a proprietary, cloud-based platform for the delivery of blockchain objects. Data Vault Holdings Inc. provides businesses with the tools to monetize data assets securely over its Information Data Exchange® (IDE). The company is in the process of finalizing the consolidation of its affiliates Data Donate Technologies, Inc., ADIO LLC, and Datavault Inc. as wholly owned subsidiaries under one corporate structure. Learn more about Data Vault Holdings Inc. here.
About CLEAR
CLEAR's mission is to create frictionless experiences. With over 25 million members and a growing network of partners across the world, CLEAR's identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell member data. For more information, visit clearme.com.
About WiSA Technologies, Inc.
WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA™ (the Wireless Speaker and Audio Association) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, include, among others, the Company’s and Datavault’s expectations with respect to the proposed Business Combination between them, including statements regarding the benefits of the Business Combination, the anticipated timing of the Business Combination, the implied valuation of Datavault, the products offered by Datavault and the markets in which it operates, and the Company’s and Datavault’s projected future results. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but are not limited to, risks and uncertainties impacting WiSA’s business including, risks related to our current liquidity position and the need to obtain additional financing to support ongoing operations, our ability to continue as a going concern; our ability to maintain the listing of our common stock on Nasdaq and other drivers, our ability to predict the timing of design wins entering production and the potential future revenue associated with design wins; rate of growth; the ability to predict customer demand for existing and future products and to secure adequate manufacturing capacity; consumer demand conditions affecting customers’ end markets; the ability to hire, retain and motivate employees; the effects of competition, including price competition; technological, regulatory and legal developments; developments in the economy and financial markets; potential harm caused by software defects, computer viruses and development delays; risks related to our proposed Business Combination, including our ability to obtain stockholder approval and any regulatory approvals required to consummate the transactions and our ability to realize some or all of the anticipated benefits therefrom, which may be affected by, among other things, costs related to the Business Combination, competition and the ability of the post-combination company to grow and manage growth profitability and retain its key employees; the risk that the Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of the Company’s securities; the occurrence of any event, change or other circumstance that could give rise to the termination of the Asset Purchase Agreement; the receipt of an unsolicited offer from another party for an alternative transaction that could interfere with the Business Combination; the effect of the announcement or pendency of the Business Combination on our and Datavault’s business relationships, performance, and business generally; the outcome of any legal proceedings that may be instituted against us or Datavault following the announcement of the proposed Business Combination; the risk of any investigations by the SEC or other regulatory authority relating to any future financing, the Asset Purchase Agreement or the Business Combination and the impact they may have on consummating the transactions; the ability to implement business plans, forecasts, and other expectations after the completion of the proposed Business Combination, and identify and realize additional opportunities; any risks that may adversely affect the business, financial condition and results of operations of Datavault, including the risk that Datavault is unable to secure or protect its intellectual property; our ability to protect our intellectual property; the post-combination company’s ability to establish, maintain and enforce effective risk management policies and procedures; the post-combination company’s ability to protect its systems and data from continually evolving cybersecurity risks, security breaches and other technological risks; the risk that the post-combination company’s securities will not be approved for listing on Nasdaq or if approved, maintain the listing; and other risks detailed from time to time in the Company’s filings with the
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination. This presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926899809/en/
Investors for WiSA Technologies and Data Vault Holdings:
David Barnard, LHA Investor Relations, 415-433-3777, wisa@lhai.com
Source: WiSA Technologies, Inc.
FAQ
What is the purpose of Data Vault Holdings' partnership with CLEAR?
How much is the global AML and KYC market expected to grow by 2028?
What is the status of Data Vault Holdings' asset sale to WiSA Technologies (WISA)?
How will the partnership between Data Vault Holdings and CLEAR benefit the NIL market?
