VerifyMe Nigeria extends digital ID services with launch of real-time verification for vague addresses
VerifyMe Nigeria has introduced a new service to reduce delays and enhance accuracy in the process of verifying and authenticating non-standardized addresses in digital ID for businesses and individuals.
The service uses 4D GIS technology to enhance efficiency in last-mile agent processes as it will run pre-screening for addresses using cell-tower and GPS positioning systems without any noticeable delays, according to Vanguard.
Vanguard quoted VerifyMe’s Chief Information Officer (CIO) Brandon Wang as explaining that the technology comes as a digital identity solution for a major problem companies in Nigeria have often faced; that of easily and accurately verifying and authenticating non-standardized or vague addresses. This, he said, has led to huge financial losses especially for companies in the financial and ecommerce sectors.
Wang recalled to Vanguard that when VerifyMe entered the digital ID market in Nigeria, they thought last-mile verification capacity was the problem. That, he stated, is not the case. He said their experience in the last few years indicates that the issue of vague addressing has to be handled first if last-minute authentication is to be a seamless process.
It is in response to this problem, he disclosed, that the company has developed its 4D GIS solution, which it says is user-inclusive because it greatly depends on the user’s personal input during the verification or authentication process.
“This is why we are launching our 4D GIS address verification service into the Nigerian market. It will help our customers and agents use the improved accuracy to verify incomplete or vague addresses in real-time. The new service will also be available to integrate into existing workflows for our customers, so a company like Jumia will be able to integrate with our webhook to pinpoint the exact location of non-standard addresses,” Vanguard quoted Wang as saying.
The VerifyMe CIO further made his case for their new solution by explaining a recent experience in which their company was unable to execute an order from a banking client for the verification of 1,500 addresses in one week because more than half of the addresses (which were those of loan applicants) were either incomplete or ambiguous.
“This issue significantly slowed down the onboarding process and translated to a loss of potential revenue for our client and staff-hours for us. Not to mention that over a thousand people were not able to get access to credit in that week,” Wang told Vanguard.