VerifyMe Nigeria begins international expansion, rolls out digital ID orchestration platform
Lagos-based digital ID verification company VerifyMe Nigeria has developed an API infrastructure and data services platform dubbed QoreID for businesses to build workflows for digital transactions such as remote onboarding with customer analytics.
Recently launched, QoreID is a dedicated consumer analytics platform which comes with a package of secure digital ID verification and authentication tools to enable medium and enterprise-size business entities easily connect customers and their information, The Cable reports. ID document checks, face biometrics and liveness detection are among the tools QoreID can be used to orchestrate customer transactions with.
Built to help boost sustainable growth in the consumer credit and open finance markets with tools like alternative credit scoring, QoreID is meant to assist fintechs in obtaining customer information for regulatory compliance.
Esigie Aguele, co-founder and chief executive officer of VerifyMe Nigeria said during the launch of the product that it has been developed to meet the exigencies of local and international best practices in terms of security, and will push business growth in Africa in certain key market segments.
“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,” says Aguele as quoted by The Cable.
Ghana launch announced
According to Aguele, the company’s vision is to expand beyond Nigeria and support the growth of other businesses especially as businesses continue to interconnect within the African 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,” says Aguele. “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.”
QoreID is built on the trust which VerifyMe Nigeria has earned over the years from its major fintech and financial sector customers. It provides solutions such as real-time identity verifications, business verification, financial profiling, fraud prevention, automated last-mile for fintechs, digital addressing, AI-powered authentication, just to cite these few, notes The Cable.
Speaking recently during an exchange with journalists, Esigie Aguele emphasized the need for greater collaboration among industry stakeholders in order to enhance KYC compliance.