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iiDENTIFii biometrics chosen by Zambian bank to drive financial inclusion

iiDENTIFii biometrics chosen by Zambian bank to drive financial inclusion
 

South African biometrics and ID verification firm iiDENTIFii has sealed a deal with the Zambian National Commercial Bank (Zanaco) to facilitate inclusive access to financial services including opening bank accounts, accessing credit, and making secure transactions.

According to a news release, iiDENTIFii will provide its face biometric ID verification solution to the bank’s customers, which officials believe, will go a long way in curbing bank fraud and enhancing access to banking services.

“Many individuals across the continent lack recognized identification, which hampers their access to banking, healthcare, and government services,” iiDENTIFii Founder and CEO Gur Geva observes.

Geva posits that digital services in sectors like banking are important to the overall health of the economy. “The biometric data of individuals is central to this, and often integrated with the e-identity, or e-government and e-commerce services.”

Zanaco Chief Risk Officer Mutisunge Zulu says the partnership comes as a booster to its sustained commitment to the financial inclusion push in the southern African country.

The partners say the collaboration will be useful not only for the unbanked but also for those with limited digital literacy levels.

iiDENTIFii announced in September last year that it had raised $15 million to boost its face biometric authentication business across the African continent.

In July, the company pitched a liveness detection solution as part of its mission to support companies and banks against financial crimes of all forms.

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