• Friday, July 19, 2024
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VerifyMe unveils new digital identity, consumer analytics solution for businesses

Digital innovation will drive future of  businesses in Africa – VerifyMe

Leading identity verification and e-Know Your Customer (KYC) technology company, VerifyMe Nigeria, has unveiled QoreID, a dedicated digital identity, and analytics solution for B2B.

QoreID will provide Application Programming Interface infrastructure and data services that connect businesses to people and their information across Africa and remain a VerifyMe Nigeria company.

Targeted at the medium and enterprise business segment, QoreID provides a suite of secure verification and authentication solutions that connect businesses to trusted identities and critical consumer analytics such as alternative credit scoring for the unbanked and much more.

The platform is built to help power sustainable growth within the emerging consumer credit and open finance markets, building products that help Fintechs get access to compliant customer information.

Speaking on the launch, Esigie Aguele, Co-founder and Chief Executive Officer of VerifyMe, stated that QoreID is positioned to transform businesses across Africa and drive growth within key markets by making customer acquisition faster, more affordable, and more efficient.

It will be supported by local and global best practices for security and compliance, making transactions less vulnerable to fraud, errors, and other risks.

According to Aguele: “QoreID is simply data infrastructure you can trust to build your business or products on. Many medium to large-scale companies spend valuable time and resources verifying customer information for KYC or approving them for credit or other services. This slows down their business development efforts and may result in several lost opportunities. It also increases the risk of insider abuses.
“With QoreID, businesses seeking to drive growth within key markets and enhance their overall customer experience can simply use our secure API hub or SDKs to meet their business or regulatory requirements.”

Read also: Digital identity key to deepening open finance In Africa; VerifyMe CEO

Additionally, Aguele disclosed that the company had completed plans to extend its footprints across Africa, beginning with Ghana.

He said: “Right from inception, we have been driven by a clear vision to grow Africa’s trust economy. Reinforced by the successes we have recorded in Nigeria, the continent’s most competitive market, we believe the time is right to spread out to other markets within the sub-region. This decision was not taken in isolation. As businesses continue to interconnect across the continent, customers who have experienced the superiority of our service offerings have also expressed the desire to have us support their businesses as they grow across the continent.

“We will be launching QoreID in Ghana within the next few weeks, and plans are also underway to open up in more markets both within the continent and beyond,” he added. “We are going beyond just providing a singular access point to verify Africans to building products for their cultural uniqueness. We believe this translates into profiling, allowing our customers to take advantage of underserved segments like unbanked Nigerians who are an informal economic force.”

Voted as a Notable Ecosystem Champion in Nigeria by StartupBlink, VerifyMe is trusted by over 55 percebt of commercial banks, 90 percent of digital banks, 50 percent of the top 15 insurance companies, and over 50 top
credit lenders in Nigeria.

QoreID builds upon this trust to provide more customized and robust B2B solutions for ID verification, onboarding technology, and accurate financial profiling for approvals so that people can easily access services.

Solutions include real-time identity verifications, business verification, financial profiling, fraud prevention, automated last-mile for fintech, digital addressing, AI-powered authentication, and much more.

Other services are alternativ credit analytics, income and statement verification, marketplace data, real-time vehicle verification, asset verification, and identity authentication services such as liveness check, face matching, and Identity document verification.

QoreID will focus on supporting growth within the emerging digital and consumer credit economies, including open banking, FinTech, digital and e-Commerce companies, banks, insurance, and other legacy financial services.