Youverify digital wallet promises biometric security for individuals and businesses in Africa
Youverify, a Lagos-based biometric identity verification company, has rolled out an all-in-one digital identity wallet that enables individuals to preserve personal ID information in an encrypted format.
The wallet, which is in the form of a free downloadable app, also allows businesses the possibility of biometric onboarding for customers without them having to manually fill out Know Your Customer (KYC) forms or compromising trust, Business Day Nigeria reports.
Businesses integrating the app can allow users to easily share KYC information, and can track and monitor physical address locations of customers while maintaining trust, minimizing incidents of fraud and ensuring procedural compliance, the company explains.
Youverify’s YouID, which was launched in Lagos this week, can be used to securely sign up to websites or other online services without any need for passwords or usernames.
ID documents such as digital ID cards, passports and driver’s licenses can be stored on the digital wallet, which authenticates user identity with face biometrics through a selfie. The wallet is also designed to constantly keep track of any data breaches and leaks to inform users, Business Day notes.
YouID Key allows users to implement a passwordless feature or use multi-factor authentication to protect their passwords, TechBuild.Africa reports.
Outlet Techeconomy quotes Youverify CEO Gbenga Odegbami as saying the digital ID solution was developed to respond to the growing need of Nigerians and Africans in general to carry around their ID information in a secure manner.
He said the YouID solution is developed to bring that extra layer of security, convenience and comfort of use, as users go about their day-to-day activities.
The Youverify CEO and his team members say the solution will, among other things, allow its users access to the vast online marketplace where they can make deals with trusted and verified business entities. The app can also inform users if any of their passwords have been breached or if their stored information is tampered with by a third party.
Last year, Youverify was awarded two key certifications from the International Organization for Standardization (ISO) related to the protection of sensitive information like biometrics, namely the ISO 27018 and ISO 27001 certifications.