Ugo Aliogo
VerifyMe Nigeria, a digital identity verification and Know-Your-Customer (KYC) business, has launched VeriFind.
A statement by the organisation said the service is a proprietary geo-tagging solution targeted at improving address verification for seamless customer onboarding.
The statement also noted that VeriFind is Anti-money Laundering (AML) compliant and backed up by a nationwide verification logistics network of over 13,000 agents, adding that it is currently the most advanced and comprehensive address verification system in Nigeria.
The Chief Executive officer, VerifyMe, Esigie Aguele, “VeriFind has a higher address verification completion rate due to its unique addressing platform and Geographic Information System (GIS) feature. It deals with vague or incorrect addresses promptly shortening the verification process to a couple of hours.”
“Many organisations see the address verification component of KYC as a chore, and the 24 to 48 hour wait period for traditional processing is simply unsuitable to the demands of today’s fast-paced businesses. Our aim is to enable businesses to focus on their core mandate, confident that they have a credible trust-based system backed by strong KYC infrastructure,” he added.
The statement also noted that in addition to VeriFind, the verification company also launched two other services: a Facial Liveness tool and the NUBAN verification service.
Aguele remarked that the new Facial Liveness Tool checks identity theft by authenticating identities online using live photos and access to authoritative national databases such as National Identification Number (NIN) and Driver’s License.
According to the statement: “The NUBAN Account Verification Solution prevents online fraud by cross-referencing transaction details with multiple data sets, including account name, mobile number, first and last names, date of birth and gender. This is to ensure that the bank account owner is the one authorising the transaction.
“With a growing clientele that includes 30 commercial banks, the top five insurance firms, gaming companies, over 60 lenders, and three pension fund managers, the company has witnessed 90% increase in transaction volume in the last six months. Over 5,000 domestic employers also use VerifyMe solutions in making hiring decisions for nannies, drivers, cooks, and other household staff.”
