Prembly acquires Tunnel to expand selfie biometric ID verification

Prembly, which bills itself as a leading compliance and security infrastructure provider in Africa, announced that it has acquired Tunnel, a secure data sharing company, in order to expand its presence in emerging markets.

Prembly’s infrastructure combines document verification, face biometrics, liveness detection and other security and compliance tools to aid businesses in securely and quickly verifying users’ identities. Its Identitypass software provides selfie biometrics and liveness for customer onboarding and compliance with KYC regulations. The newly acquired Tunnel, based in Nigeria, specializes in data analytics and infrastructure with an emphasis on secure business data sharing.

The move means that customers will have access to a wider range of APIs offering creditworthiness assessments, anti-fraud checks, and online user behavior insights. It will also allow businesses to scale more easily by giving them access to real-time customer information through a unified API.

This could be particularly useful for financial institutions across the globe, as financial data can be fundamental in verifying identities, the statement from Prembly suggests. Tunnel allows clients to access and share data with lenders.

“This strategic move expands our financial data capabilities across emerging markets, enhancing our security and verification systems,” says Prembly CEO, Lanre Ogungbe. “This acquisition empowers us to provide businesses with accurate and actionable credit data.”

“We are proud to join forces with Prembly as we integrate our solutions into an extensive compliance and security network. This acquisition marks a drive towards empowering businesses, particularly with actionable customer information and insights,” says co-founder and CEO of Tunnel Tobi Okedeji in a statement.

Article Topics

acquisitions  |  Africa  |  biometrics  |  identity verification  |  Prembly  |  selfie biometrics  |  Tunnel