VerifyMe Nigeria, a firm that develops identity verification and e-KYC technology, has introduced QoreID, a digital identity and analytics solution for commercial organisations.
The organisation stated that QoreID would continue to be a VerifyMe Nigeria firm while providing API infrastructure and data services that connect businesses to people and their information across Africa.
According to a release, it offers a suite of safe verification and identification solutions that connect businesses to reliable identities and crucial consumer insights like alternative credit scoring for the unbanked and much more, and is aimed at the medium and enterprise company segment.
Esigie Aguele, co-founder and chief executive officer of VerifyMe, said during the reveal that QoreID was poised to disrupt industries across Africa and spur expansion in important regions.
“It will be supported by local and global best practices for security and compliance, making transactions less vulnerable to fraud, errors, and other risks,” Aguele said.
According to Aguele, the new tool is a trusted data infrastructure to build business or products on.
He said, “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.”
Aguele said that the company had completed plans to extend its footprints across Africa, beginning with Ghana.
He said, “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.
“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.”
The company’s new product will focus on supporting growth within the emerging digital and consumer credit economies, including open banking, FinTech, digital and e-Commerce companies, banks, insurance, and other legacy financial services, the company stated.
